Fixed Deposit (FD) has always been considered one of the best investment and savings options. One of the biggest reasons for this is that there is no market risk in fixed deposits and your money is safe.
However, many people do not deposit their money in FD. A major reason for this is that the interest rate available in FD is very low. But in the last few days, almost all types of banks have increased the interest rates for their customers. After which now customers are getting the benefit of more interest on FD than before. In such a situation, if you want to invest your money in FD, then this time can prove to be quite favorable for you. In such a situation, if you are also thinking of investing your money in FD, then it becomes important for you to know about the interest rates of different banks. So let us also know about the interest being given by State Bank of India (SBI), HDFC Bank and Punjab National Bank.
ICICI Bank FD
ICICI Bank is offering its customers returns of more than 7 percent annual interest rate on FDs of less than Rs 2 crore. In this bank you can invest your money in FD schemes ranging from 7 days to 10 years. This bank is offering interest to its general customers at minimum 3 percent and maximum 7.10 percent. At the same time, customers falling in the senior citizens category are also getting the benefit of higher interest. This bank is offering minimum 3.50 percent and maximum 7.60 percent annual interest to its customers falling in the senior citizens category.
Punjab National Bank
Punjab National Bank offers FD schemes to its customers for tenures ranging from 7 days to 10 years. At the same time, this bank is offering maximum return of 7.75 percent annual interest rate on FD schemes with amount less than Rs 2 crore. Punjab National Bank is giving the benefit of minimum 3.50 percent and maximum 7.25 percent interest rate on FD to its general customers. At the same time, this bank is offering minimum 4 percent and maximum 7.75 percent annual interest to its customers falling in the senior citizens category.
State Bank of India (SBI)
State Bank of India (SBI), India’s largest bank, offers FD schemes to its customers for tenures ranging from 7 days to 10 years. At the same time, this bank is offering maximum returns of 7.50 percent annual interest rate on FD schemes with amount less than Rs 2 crore. SBI is giving the benefit of minimum 3 percent and maximum 7.50 percent interest rate on FD to its general customers. At the same time, this bank is offering minimum 3.50 percent and maximum 7.50 percent annual interest to its customers falling in the senior citizens category.
