🏦 Scheduled Banks — DICGC Insured
Ranked by best general rate · Below ₹3 Crore deposits
| # | Bank | Best Rate (General) | Senior (+60) | Sweet Tenure | Rating | DICGC | Verdict |
|---|---|---|---|---|---|---|---|
| 🥇 |
SBM Bank
via NIYO App · Pvt. Sector
|
7.10% | 7.60% | 15 months – 3 years | ✔ Insured | ★ Top Pick | |
| 🥈 |
Kotak Mahindra Bank
Private Sector
|
6.80% | 7.30% | 390 days – 2 years | ✔ Insured | Strong Buy | |
| 🥉 |
ICICI Bank
Private Sector
|
6.50% | 7.10% | 15 months – 2 years | ✔ Insured | Strong | |
| 4 |
HDFC Bank
Private Sector
|
6.50% | 7.00% | 3 years – 5 years | ✔ Insured | Strong | |
| 5 |
IDBI Bank
Public Sector (Govt. stake)
|
6.50% | 7.00% | 1 year – 3 years | ✔ Insured | Solid | |
| 6 |
State Bank of India
Public Sector · Largest Bank in India
|
6.45% | 6.95% | 444 days (Amrit Vrishti) | ✔ Insured | Stable |
⚡ NBFCs — Higher Yield, No DICGC Insurance
Ranked by best general rate · Invest based on credit rating
| # | NBFC | Best Rate (General) | Senior (+60) | Sweet Tenure | Credit Rating | Insured? | Risk Tier |
|---|---|---|---|---|---|---|---|
| 🥇 |
Muthoot Capital Services
NBFC · Gold-backed lending
|
8.50% | ~9.00% | 3 years – 5 years | ✗ None | High Yield / Moderate Risk | |
| 🥈 |
Shriram Finance
NBFC · ICRA AA+ Stable
|
7.60% | 8.10% | 3 years – 5 years | ✗ None | High Yield / Low-Mod Risk | |
| 🥉 |
PNB Housing Finance
HFC / NBFC · PNB parentage
|
7.30% | 7.80% | 36 months – 60 months | ✗ None | Best Safety + Yield NBFC | |
| 4 |
Mahindra Finance
NBFC · IND AAA / Stable
|
7.00% | 7.25% | 24 months – 36 months | ✗ None | Solid AAA | |
| 5 |
Bajaj Finance
NBFC · CRISIL AAA + ICRA AAA
|
6.95% | 7.30% | 36 months – 60 months | ✗ None | Safest NBFC Choice |