The country’s largest public sector bank SBI is giving interest ranging from 2.90 to 6.30 percent on FDs of less than Rs 2 crore. On the other hand, IDFC Bank of the private sector is giving interest ranging from 2.50 to 6.75 percent.
At present, we have many options available to invest money . Now many such options have been opened for investment in the country, where tremendous returns are available in a short time. Despite this, Fixed Deposit is still considered the safest and easiest way to invest. After the increase in the repo rate by the Reserve Bank of India on May 4, all government and private banks have also increased the interest paid on FDs. All government and private banks working in the country are now giving better interest on fixed deposits than before. Today we will tell you about the banks which are giving you the opportunity to earn maximum profit on FD.
Which bank is giving the highest interest rate
Now that all the banks are increasing the interest rates on FD, it becomes very important for all of us to know which bank is giving the highest interest. Now it is a bit difficult task to find out about the interest rates of all the banks. So here we will tell you about the interest rates offered by different banks at one place.
| Name of bank | Interest Rate (Ordinary Citizen) | Interest Rate (Senior Citizen) |
|---|---|---|
| State Bank Of India | 2.90 to 5.50 percent | 3.40 to 6.30 percent |
| HDFC Bank | 2.50 to 5.60 percent | 3.00 to 6.35 percent |
| IDBI Bank | 2.70 to 5.60 percent | 3.20 to 6.35 percent |
| Punjab National Bank | 3.00 to 5.25 percent | 3.50 to 5.75 percent |
| Canara Bank | 2.90 to 5.75 percent | 2.90 to 6.25 percent |
| Axis Bank | 2.50 to 5.75 percent | 2.50 to 6.50 percent |
| Bank Of Baroda | 2.80 to 5.35 percent | 3.30 to 6.35 percent |
| IDFC Bank | 2.50 to 6.25 percent | 3.00 to 6.75 percent |
| bank of india | 2.85 to 5.20 percent | 3.35 to 5.95 percent |
| Punjab And Sind Bank | 3.00 to 5.40 percent | 3.50 to 5.90 percent |
Huge profits are available on long term FDs
The country’s largest public sector bank SBI is giving interest ranging from 2.90 to 6.30 percent on FDs of less than Rs 2 crore. On the other hand, IDFC Bank of the private sector is giving interest ranging from 2.50 to 6.75 percent. It is very important to know here that the return on FD depends on the amount deposited by you and its tenure.
If you deposit a huge amount for a long period, then you will get huge profits. Let us tell you that all the banks in the country give more interest on FD to senior citizens than normal citizens.
