You’re planning to park your money for just 6 months but are confused which bank to choose is a real dilemma. You’re probably looking for good short-term returns, safety and quick access to your money. Now, many banks offer 6-month FDs, but not all give the same interest rate. The interest rates also keep changing from time to time, so it’s good to compare before locking in your funds.
Still confused and wondering which bank is best for fixed deposit for 6 months. As of now, small finance banks like Unity Small Finance Bank, Jana Small Finance Bank, and Fincare Small Finance Bank are offering higher returns around 7.5% to 8.5% for a 6-month FD.
I actually had the same confusion a few months back when I wanted to park some extra money for 6 months so sharing from personal experience here. I compared interest rates across a few banks to check which bank is best for fixed deposits for 6 months, and what I found was that small finance banks like Unity Small Finance Bank and Jana Small Finance Bank were offering the highest returns somewhere around 7.5% to 8.5% for a 6-month FD. But I also wanted to be cautious, so I checked that these banks are RBI-regulated and DICGC-insured, which means up to ₹5 lakhs is safe. I personally went with Suryodaya small finance Bank for the short term just because the rate was much better and the app experience was quite smooth too.