Bank Fixed Deposits: If you invest in FD then this news is useful for you. Many public sector and private sector banks are offering high interest rates to investors. Read the news in detail below…
After the increase in interest rates by RBI in the last one year, investors have turned towards FD. But do you know in which banks investors prefer to deposit their money. According to RBI data for the financial year 2022, 7 public sector banks and 3 private sector banks have 76 percent of the total deposits. Investors prefer to invest in major public sector banks and private banks.
SBI’s market share is 36 percent
At the same time, SBI is being preferred the most by the customers for investment. In this, 23 percent of FD of long duration is deposited. In terms of FD among public sector banks, SBI’s market share is 36 percent. Among private sector banks, HDFC is the most preferred bank for investors to make FD. This is the second bank with 8 percent of total bank deposits with FDs of multiple tenures. Its market share in terms of FD among private sector banks is 28 percent.
After SBI, investors preferred Canara Bank
Among public sector banks, after SBI, investors have preferred to invest in Canara Bank and Union Bank of India. These two account for 7 per cent of total bank deposits across all periods. Among public sector banks, Canara and Union Bank of India have 12 percent and 11 percent market share in FD. This is followed by BOB National Bank both with 6 per cent of total bank deposits across all periods.
I would like to do FD in ICICI very much.
Whereas among public sector banks, after HDFC, investors have preferred to invest in ICICI Bank the most. In this, the market share among private banks in all tenures is 6 percent and the market share among private banks in fixed deposits is 19 percent. The share of bank deposits preferred by investors for FD is 6 percent and the share of private banks in FD is 19 percent. Axis Bank is at third place in the top 10 list of banks preferred by investors for FD. It accounts for 5 per cent of total bank deposits across all periods and the share among private banks in FD deposits is 15 per cent.
