Fixed Deposit: In India, fixed deposits (FDs) are considered a safe investment option. Investors receive a fixed return at a fixed interest rate. FDs are offered by banks, post offices, small finance banks (SFBs), and non-banking finance companies (NBFCs).
Fixed Deposit : In India, fixed deposits (FDs) are considered a safe investment option. Investors receive a fixed return at a fixed interest rate. FDs are offered by banks, post offices, small finance banks (SFBs), and non-banking finance companies (NBFCs). This scheme is ideal for those seeking stable returns without risk.
Currently, major banks in India offer interest rates ranging from 2.75% to 7.25% per annum for general customers, and 3.25% to 7.75% for senior citizens. Fixed deposits remain the preferred choice of Indian investors because they are safe and guarantee fixed returns.
Interest rates on FDs of major banks of the country
1. Axis Bank
Axis Bank offers annual interest rates ranging from 3.00% to 6.60% for deposits up to ₹3 crore. Senior citizens receive interest rates ranging from 3.50% to 7.35%. Investment periods range from 7 days to 10 years.
2. HDFC Bank
Investments in HDFC Bank can be made for tenures ranging from 7 days to 10 years. Current interest rates range from 2.75% to 6.60% per annum. Senior citizens earn an additional 0.50% interest on FDs of all tenures.
3. ICICI Bank
ICICI Bank FD interest rates range from 2.75% to 6.60% per annum. Senior citizens benefit from higher interest rates. Investment periods range from 7 days to 10 years.
4. IDBI Bank
IDBI Bank’s fixed deposit schemes offer annual interest rates ranging from 3.00% to 7.05%. The tenure can range from 7 days to 20 years. Senior citizens are offered an additional interest rate. The bank may revise these rates from time to time.
5. State Bank of India (SBI)
SBI fixed deposits offer tenures ranging from 7 days to 10 years. General customers receive interest rates ranging from 3.05% to 6.85%, and senior citizens receive interest rates ranging from 3.55% to 7.35% annually. These rates will be effective from July 2025.
6. Punjab National Bank (PNB)
PNB FD interest rates range from 3.00% to 6.40% per annum. The maximum interest rate is 6.40% for FDs up to ₹3 crore. Senior citizens receive an additional 0.50% interest.
7. Central Bank of India
This bank offers annual interest rates ranging from 3.50% to 6.75%. Investment periods range from 7 days to 10 years.
8. Bank of Baroda
Bank of Baroda’s FD schemes offer interest rates ranging from 3.50% to 6.50%. Senior citizens receive higher interest rates. The bank offers three types of FDs: the Capital Gains Account Scheme 1988, the Long-Term Deposit Scheme, and the Short-Term Deposit Scheme.
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at businessleaguein@gmail.com
Add businessleague.in as a Preferred Source
