There exists a pretty simple concept of Fixed Deposits in India where some banks pay up to 7% return per annum with a good deal of flexiblity. This is a good option for those who want to have a totally safe cash-flow every quarter in the form of interest payments. However, I was wondering if there is any such thing in the U.S. especially for foreign nationals where people could save money and receive interest cuts every quarter as interest payments. All I want is a high interest paying fixed savings account with regular interest payouts. Check out this link to know more about regular fixed deposit account in India, or this link to see typical rates and terms.

Edit: This link should surprise some people as the FD interest rates are so high, sometimes beating the Stock Market.

  • 1
    I think your question would be easier to answer if you listed specific benefits you want from the investment, or what your goals are, rather than asking for something "similar" to something many have not heard of. For example, certificates of deposit (CDs), bonds, and high-interest savings accounts all exist, but serve different needs. At first blush, CDs sound similar, but 7% seems like a really high return for a CD.
    – jpaugh
    Commented Nov 1, 2019 at 19:36
  • I don't have your answer, but I find it interesting. Annuities have regular payouts, but I don't think they accrue any interest.
    – jpaugh
    Commented Nov 1, 2019 at 19:50
  • @dwizum Good eye! The original link will be more useful.
    – jpaugh
    Commented Nov 1, 2019 at 19:52
  • I added that one too - I missed that the OP had changed links in their edit.
    – dwizum
    Commented Nov 1, 2019 at 19:56
  • This link should surprise you, incredible interest rates with flexible FD policies. Economic Times, India Times. (Note: This is a credible website)
    – iamsumitd
    Commented Nov 1, 2019 at 23:05

1 Answer 1


The closest direct equivalent is a Certificate of Deposit. CDs in the US require you to leave a given amount deposited for a specified term - often several years. You cannot withdraw the original deposit during the term of the certificate. The deposit earns interest, which can be deposited into the account or paid out on a fixed interval (usually monthly or quarterly).

However, it's worth pointing out that typical current interest rates for CDs are much lower than the rates you are quoting - 2% - 3% might be typical, not 7%.

CDs do not typically have any different requirements than other depository US bank accounts, in terms of nationality.

  • CD in US is same as Fixed Deposit in India also known as Term Deposit in UK
    – Dheer
    Commented Nov 1, 2019 at 21:08
  • What is the typical interest rate in the U.K.?
    – iamsumitd
    Commented Nov 1, 2019 at 22:59

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