Fixed Deposits (FDs) are among the safest investment options available. They provide a fixed interest return on the principal amount for a specified period. Here’s a look at the interest rates provided by some leading Indian banks:
State Bank of India (SBI) Fixed Deposits:
Offers an interest rate ranging from 3% to 7% for deposits less than 2 crore rupees. For a tenure of 2 to 3 years, the bank provides a peak rate of 7%. Their special scheme, the “Amrit Kalash Deposit”, offers an interest of 7.10%.
HDFC Bank Fixed Deposits :
Interest rates range from 3% to 7.20% for deposits under 2 crore rupees. For tenures ranging from 15 to 18 months, the bank offers 7.15% for general citizens and 7.65% for senior citizens.
ICICI Bank Fixed Deposits :
Offers interest rates between 3% and 7.10% for general citizens on deposits below 2 crore rupees. A peak interest rate of 7.10% for a period of 15 months to 2 years, and senior citizens get an attractive rate of 7.60% for the same tenure.
Punjab National Bank (PNB) Fixed Deposits :
Provides interest rates from 3.50% to 7.25% for general citizens on deposits under 2 crore rupees. A tenure of 444 days offers the highest interest rate of 7.25%.
Canara Bank Fixed Deposits:
Interest rates vary from 4% to 7.25% for deposits below 2 crore rupees.
They offer a top rate of 7.25% for a period of 444 days.
Yes Bank Fixed Deposits:
General citizens get interest rates ranging from 3.25% to 7.50% for deposits less than 2 crore rupees. For tenures between 10 to 24 months, investors can benefit from the highest interest rate of 7.50%. While all banks offer competitive rates, the best bank for an individual will depend on their requirements, including the tenure they are comfortable with and any additional benefits or services offered by the bank. Before making a decision, it’s always recommended to check and compare the latest interest rates and terms directly with the banks.
