These days, small savings banks offer fixed interest rates. Generally he prefers to invest in his FD for 3 to 5 years can look for such a deposit.

However, when investing in new term deposits, it is imperative to compare the latest term deposit rates from other banks.

Here are the latest microfinance bank fixed deposit rates. The top three banks he offers interest rates above 7%.

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These are cumulative microfinance bank FDs. This means that the interest earned is reinvested into the initial deposit on a regular basis. For example, if you buy his FD for 2 years, the interest you earn quarterly will be added to your first deposit. In the next quarter, interest will be calculated on the increased initial deposit (initial deposit + interest from the previous quarter). Therefore, the amount on which interest is calculated increases each quarter.

For such FDs, the conditions of the scheme should also be checked. Such FDs can be purchased by visiting the website or your nearest bank branch. When you invest money in such FDs, you will receive a receipt to your email address if you invested online. Or if you went to the bank, you will receive a receipt from the bank after the investment is successful.

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