If you are thinking of getting a Fixed Deposit (FD), then first of all it is important to know in which bank you will get the best interest rate. Generally, interest is higher on long term FDs, because it has the benefit of compounding i.e. interest on interest. Let us know how much interest is being given on 5-year tax saving FD in some major government and private banks of the country.
1- HDFC Bank
HDFC Bank is giving 6.65 percent interest on 5-year FD to common citizens. On the other hand, if you are a senior citizen, then you will get up to 7.15 percent interest.
2- ICICI Bank
ICICI Bank is giving 6.75 percent interest to common citizens. On the other hand, senior citizens are being offered 7.25 percent interest on 5-year FD. 3- Kotak Mahindra Bank
Those who are thinking of getting FD in Kotak Mahindra Bank, the bank is offering them 6.20 percent interest on 5-year FD. At the same time, senior citizens will get 6.70 percent interest on 5-year FD.
4- State Bank of India (SBI)
State Bank of India is giving 6.30 percent interest on 5-year FD to common citizens. At the same time, if you are a senior citizen, then you will get 7.30 percent interest on 5-year FD.
5- Bank of Baroda
On getting 5-year FD in Bank of Baroda, common people are being given 6.55 percent interest. At the same time, if you are a senior citizen, then you will get 7.15 percent interest on 5-year FD.
6- Union Bank of India
Common people are getting 6.50 percent interest in Union Bank of India. If you are a senior citizen, you will get 7 percent interest on 5 year FD.
Most Read Articles:
- Income Tax Rules: Income Tax department changed these rules for ITR filing; Know the details
- Electricity Smart Meter: Big news! Disconnect electricity connection of those who do not install smart meters’, DM issued order
- Credit Card Link UPI: Link your credit card to UPI from home, know step-by-step guide
