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For those who invest money in the right place, one one-year fixed deposit (FD) is a reliable option. Here, the fund is safe, and the interest is also fixed. This is an excellent option for those who want to invest in case of an emergency, especially when there is an immediate need for cash. Many banks are offering great interest rates on one-year FD, so that investors can earn higher returns. So let's know which banks are offering the highest interest rate on a one-year FD.

These days, many banks in the country are offering 6% to 7% interest on one-year fixed deposits. However, some select banks are also offering more than 7% interest rate to investors, which can be a better opportunity for everyone.

Small Finance Banks
If you want to earn more interest by investing in an FD for one year, then small finance banks have emerged as an excellent option. Suryoday Small Finance Bank is offering around 7.5% interest, Jan Small Finance Bank is offering 7.25%, Equitas Small Finance Bank, and Ujjivan Small Finance Bank are offering 7.25% interest. Investing here can be best for small investors.

IndusInd Bank
If you want to do an FD in a private bank, then IndusInd Bank offers competitive interest rates ranging from 3.50% per annum to 7.75% per annum. By the way, this bank is giving around 7% interest on a 1-year fixed deposit. That is, if you deposit Rs 1 lakh, then after a year it can increase to Rs 1.07 lakh.

Axis Bank
If you are looking for an investment with safe and guaranteed returns, then the bank's fixed deposit (FD) can be the right option for you. Axis Bank, HDFC Bank, and Kotak Mahindra Bank are currently giving around 6.70% interest on 1-year FD. By investing in this, your fund can become very strong in just one year.

ICICI Bank

ICICI Bank offers an FD interest rate of up to 7.10% per annum for senior citizens (60 years and above) and up to 6.60% per annum for citizens below 60 years of age. So it is giving its customers a great opportunity to get safe returns on fixed deposits. Currently, the bank is offering around 6.60% interest rate on 1 1-year FD. This option is beneficial for those who want stable and reliable investment.

Government Bank

Actually, good returns are also being received on fixed deposits of government banks. Bank of Baroda, Punjab National Bank (PNB) and Union Bank, Canara Bank State Bank of India are also offering interest rates of 4 to 6 percent. That is, investors are easily getting safe and reliable options in government banks as well.

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