Fixed Deposit (FD) has always been considered one of the safest and preferred means of investment. However, due to low returns in FD, many people had stopped investing their money in it.
But after the continuous increase in repo rate since May last year, almost all types of banks had also announced to increase the interest rates for their customers on fixed deposits. In such a situation, if you are also thinking of investing your money in FD scheme, then this is a better time for you. But before that, it is important for you to know what interest rate is available on FD in different banks.
So that you can put your money in the FD of that bank where you are being given the highest interest benefit. Here we have collected the details of fixed deposit interest rates offered by State Bank of India (SBI), HDFC Bank and Punjab National Bank (PNB). In such a situation, let us know in which of the three banks you are getting the benefit of highest interest rate?
HDFC Bank
HDFC Bank, the largest private sector bank, offers its customers the benefit of FD scheme ranging from 7 days to 10 years. During this period, this bank also gives the benefit of very good interest rates to its customers. Whereas customers falling in senior citizens category get the benefit of higher interest. While general customers are given the benefit of interest at a minimum of 3 percent and maximum of 7 percent, senior citizens are given the benefit of interest at a minimum of 3.50 percent and maximum of 7.75 percent. This interest rate is for amounts less than Rs 2 crore.
Punjab National Bank (PNB)
Punjab National Bank (PNB) offers FD schemes to its customers ranging from 7 days to 10 years. During this period, this bank also gives the benefit of very good interest rates to its customers. Whereas customers falling in senior citizens category get the benefit of higher interest. Where general customers get the benefit of interest at minimum 3.50 percent and maximum 7.25 percent. Whereas senior citizens are given the benefit of interest at minimum 4 percent and maximum 7.75 percent. This interest rate is for amounts less than Rs 2 crore.
State Bank of India (SBI)
State Bank of India (SBI), the country’s largest bank, offers FD schemes ranging from 7 days to 10 years to its customers. During this period, this bank also gives the benefit of very good interest rates to its customers. Whereas customers falling in senior citizens category get the benefit of higher interest. Where general customers get the benefit of interest at minimum 3 percent and maximum 7.50 percent. Whereas senior citizens are given the benefit of interest at minimum 3.50 percent and maximum 7.50 percent. This interest rate is for amounts less than Rs 2 crore.
