Bank fixed deposit (FD) continues to be a popular investment product not only among the elderly who are looking for a guaranteed income but also investors who cannot accept the risk. But overexposure to FDs is not good, and you need to evaluate your asset allocation and goals to decide how much you should deposit in them. For example, saving for your child’s college education for another 15 years through FDs may not work because the FD’s after-tax interest rate may not give you an actual return (a higher-than-rate return). inflation), but if you plan to take a vacation in two years, FD can help. Before choosing a FD, you should compare the interest rates offered. Below is a list of banks that offer the highest FD interest rates for deposits up to 1 crore across different terms.