In the US, fixed deposits are called Certificates of Deposit (CD). There are 5 main types of CDs offered by the banks. These are:
Traditional CDs: They have a fixed term length and interest rate. High-Yield CDs: They offer higher interest rates than traditional CDs. No-Penalty CDs: Allows early withdrawal with any penalties for a certain period. Bump-Up CDs: Allows the customer to request a one-time increase in the interest rate if market rates rise. Jumbo CDs: A significant deposit, usually $100,000 or more, is required to access the higher interest rates of these CDs.There are many banks that provide highly competitive CD rates:
Capital One 360 Ally Bank Marcus by Goldman Sachs Credit UnionsYou can select any bank and open a fixed amount there; all the banks provide good interest rates on fixed deposits.