The Smart Investors

The highest FD rate offered by any bank may keep changing according to the country and market condition. In some areas, new or smaller banks tend to offer higher interest to attract consumers, on the contrary, the big banks offer lower interest but they are safer. It is very vital to check out the current local FD rates by banks before you make any decision.

The rates on fixed deposits differ widely in every country. For instance, in some places, small regional banks or even new digital banks are offering the most attractive rates so that they can lure in customers.

I think people often just look at the interest rate, forgetting the much larger context. Government-backed banks may offer lower rates but have greater stability. To maximize safety, I would pick a slightly lower FD rate from a strong institution rather than chase the opposite.