Highest interest on FD: These 6 banks are offering the highest interest on FD, a golden opportunity for investors

After the Reserve Bank of India (RBI) cut the repo rate by a total of 100 basis points in three consecutive policy meetings, most banks have reduced the interest on fixed (FD) deposits. Due to this, the return on FD has come down. However, it is not that the options for investors seeking fixed returns are over. Investors can get better returns on their investment by choosing the FD period correctly. Today we are telling you about those 6 banks, in which the highest interest is still being given on FD. Let us know about those banks.

• HDFC Bank: HDFC Bank is offering 6.6 percent interest on a tenure of 18-21 months. Senior citizens are getting interest at the rate of 7.10 percent for this tenure.
• ICICI Bank: This private sector bank is offering 6.6 percent interest on fixed deposits (FD) with tenures of 2 to 10 years. Senior citizens are getting 7.10 percent interest.
• Kotak Mahindra Bank: Kotak Mahindra Bank is offering 6.6 percent interest on fixed deposits with a tenure of 444 days. Senior citizens are being given an additional 50 basis points of interest.
• Federal Bank: This private sector bank is offering 6.7 percent interest on FDs with a tenure of 444 days. Senior citizens are entitled to get an additional 50 basis points.
• State Bank of India (SBI): This public sector bank is offering 6.45 per cent interest on 2-3 year term deposits and an additional 50 basis points is being given to senior citizens.
• Bank of Baroda: It is offering 6.6 percent interest on FD of 444 days duration.
  Invest in different tenures

Financial experts say that if you want to do an FD of Rs 5 lakh, then do not do it in one bank or for one period. You should invest that money in 2 or 3 banks for different periods. By doing this, you will not need to break the FD when you need money. Also, you will be able to get better returns on your money. The interest rates on FDs of different periods in the same bank vary. Therefore, doing FD wisely is the way to get better returns.

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