Fixed Deposit: Most of the people prefer to get FD done instead of keeping money in Savings Account. The biggest reason for this is that it is safe and least risky as compared to other schemes. One can also invest in it for short to long term.
New Delhi. Most of the people prefer to get FD (Fixed Deposit) instead of keeping money in Savings Accounts. The biggest reason for this is that it is safe and least risky as compared to other schemes. One can also invest in it for short to long term.
Let us take a look at the banks that offer the highest FD rates for deposits up to Rs 1 crore…
These rates are interest rates of less than Rs 1 crore and tenure of five years.
1 DBS Bank – 5.70% – 6.50%
2 IndusInd Bank – 5.50% – 6.50%
3 RBL Bank – 5.40% – 6.50%
4 Yes Bank – 5.25% – 6.50%
6 IDFC FIRST Bank – 5.25% 6.00%
8 Axis Bank – 4.40 % – 5.75%
Now know the interest rate on FD in government banks
1. Union Bank of India 5.5%
2. Canara Bank 5.5%
3. State Bank of India (SBI) 5.3%
4. Punjab & Sind Bank 5.3%
5. Bank of Baroda 5.25%
There are two types of FD
Generally there are two types of FD. The first is cumulative FD and the second is non-cumulative FD. In this, interest is paid on quarterly and yearly basis. However, you can also avail interest at regular intervals.
Keep these things in mind
Before making a fixed deposit in any bank, you should go to the nearest branch and get complete information. Every bank has different interest rates and different terms. The interest rate may change depending on the amount and timing of the FD. In such a situation, before investing, go to the bank and find out about everything.
