Highest 1-year FD rates: Where will Rs 5 lakh grow the most in just one year?

Many people choose fixed deposits (FDs) over other investments options because they want stable returns from a low-risk instrument. Some people invest in FDs to park large amounts that they don’t want to invest in high-risk equities or similar investment options. FD interest rates range between banks, and even a slight variation in rates might change the maturity amount you get. The FD tenure can be from 7 days to 10 years.

Investors can invest large amounts in FDs as most banks have no maximum investment limit for fixed deposits.
If you are planning to invest Rs 5 lakh in a one-year FD scheme, here's a look at the banks currently offering the highest FD interest rates. Also know the approximately maturity amounts that you can get in these FDs on a Rs 5 lakh investment.

Highest 1-year FD interest rates at PSU banks

Bank of India and Indian Overseas Bank are offering the highest interest rate at 6.5% each. Bank of Maharashtra is offering a 6.4% rate, while Bank of Baroda, Canara Bank, Punjab National Bank (PNB) and State Bank of India (SBI) have a 6.25% interest rate each in their 1-year FDs.

Highest 1-year FD interest rates (PSU banks) and maturity on Rs 5 lakh investment

Bank	Interest Rate (%)	Maturity amount (Rs)
Bank of India, Indian Overseas Bank	6.5	533,301
Bank of Maharashtra	6.4	532,776
Bank of Baroda, Canara Bank, PNB, SBI	6.25	531,990
Union Bank of India	6.2	531,728

Highest 1-year FD interest rates at private banks

SBM Bank India offers the highest 1-year FD interest rate at a 7.1%, while the interest rate at Bandhan Bank and RBL Bank is 7% each. DCB Bank offers a 6.9% rate to its investors, while Jammu & Kashmir Bank and Tamilnad Mercantile Bank offer a 6.8% each. IndusInd Bank has a 1-year FD interest rate of 6.75%.

Highest 1-year FD interest rates (private banks) and maturity on Rs 5 lakh investment

Bank	Interest Rate (%)	Maturity on Rs 5 lakh investment (Rs)
SBM Bank India	7.1	536,456
Bandhan Bank, RBL	7	535,930
DCB Bank	6.9	535,403
Jammu & Kashmir Bank, Tamilnad Mercantile Bank	6.8	534,877
IndusInd Bank	6.75	534,614

Highest 1-year FD interest rates at small finance banks (SFBs)

Suryoday Small Finance Bank and Ujjivan Small Finance Banks are offering the highest 1-year FD interest rate at 7.25% each among all SFBs. Equitas Small Finance Bank’s rate is 7.10%, while Jana Small Finance Bank is offering a 7% interest rate to its 1-year FD investors.

Highest 1-year FD interest rates (SFBs) and maturity on Rs 5 lakh investment

Bank	1-Year FD Rate (% p.a.)	Maturity on Rs 5 lakh investment (Rs)
Suryoday Small Finance Bank	7.25%	5,37,248
Ujjivan Small Finance Bank	7.25%	5,37,248
Equitas Small Finance Bank	7.10%	5,36,456
Jana Small Finance Bank	7.00%	5,35,930
AU Small Finance Bank	6.35%	5,32,514
(FD interest rate source: Paisabazaar)