At a time when investors are searching for safe and guaranteed returns, a new Bank FD Scheme update has grabbed attention. Three banks are currently offering up to 8% interest on 3-year Fixed Deposits, making this one of the most attractive low-risk investment options available right now—especially for senior citizens and conservative investors.
Why 3-Year FDs Are Gaining Popularity
A 3-year FD tenure strikes the perfect balance between lock-in period and higher interest rates. With market volatility and uncertain equity returns, many investors are shifting funds into bank FDs that offer predictable income and capital safety.
These schemes are offered by reputed banks under RBI-regulated norms, ensuring high trust and stability.
3-Year FD at 8% – Scheme Overview
| Feature | Details |
|---|---|
| Investment Type | Fixed Deposit |
| Tenure | 3 Years |
| Interest Rate | Up to 8% |
| Risk Level | Very Low |
| Ideal For | Seniors, retirees, safe investors |
| Payout Options | Monthly / Quarterly / Cumulative |
These 3 Banks Offering 8% Interest on 3-Year FD
The following banks are currently offering bumper interest rates on 3-year FDs (rates may vary by customer category and scheme):
- Canara Bank
- Indian Bank
- Bandhan Bank
Senior citizens generally receive additional interest benefits, pushing effective returns close to or at the 8% mark.
Who Should Consider This FD Scheme
This FD option is suitable for:
- Senior citizens seeking steady income
- Retirees protecting capital
- Investors avoiding stock market risk
- People planning medium-term goals (3 years)
Tax and Withdrawal Rules Explained
Interest earned on FDs is taxable as per income tax slab. TDS may apply if annual interest crosses the threshold. Premature withdrawal is allowed but may attract a small penalty, depending on bank policy.
Conclusion
The 8% interest on 3-year bank FDs is a rare opportunity for investors who value safety, stability, and guaranteed returns. With trusted banks offering competitive rates, this scheme stands out as a smart fixed-income choice in the current environment. Checking the latest rates at the bank branch before investing is strongly recommended.
Disclaimer
This article is for informational purposes only. FD interest rates, eligibility, and penalties may change as per bank policy and RBI guidelines. Investors should verify current rates and terms directly with the respective bank before making any investment decision.