4.8 C
London
Sunday, January 23, 2022

If you are going to invest money in FD, then know which bank will get the highest interest, see the full list

- Advertisement -spot_imgspot_img
- Advertisement -

It is beneficial to compare the interest rates of different banks before investing in FDs. This will give you more benefit in investing money.

Fixed Deposit

Fixed deposit ie FD has always been considered a better option for investment. Investors invest in it due to other facilities including loans available in it. If you are also going to invest money in FD, then know where SBI, PNB and other big banks are getting the highest interest. You can get more benefit by doing this.

Fixed deposit ie FD rates of banks are fixed on the basis of changes in monetary policy of Reserve Bank of India (RBI) such as repo rate, economic condition and loan demand etc. Therefore, due to the Corona epidemic, many banks have reduced interest rates. Despite this, you can benefit by comparing the interest rates offered by different banks.

SB I

If you open an FD in SBI and invest for 3 to 5 years, then 5.4% interest will be given on it. At the same time, an additional 50 bps interest rate is provided to senior citizens for all tenors. Apart from this, 3.9% interest will be available on fixed deposits between 46 days to 179 days and 4.4% on FDs from 180 days to less than one year.

HDFC bank

HDFC Bank offers a maximum interest rate of up to 5.5 percent on FDs for a period of up to 10 years. A minimum interest rate of up to 2.5 percent is being offered if you invest in a fixed deposit tenure of 7 days to 14 days.

Axis Bank

In Axis Bank between 7 days to 10 years, normal customers are being given interest ranging from 2.5% to 5.50% in FD. Whereas senior citizens are given more interest on the basis of maturity period in select FD scheme.

IDFC First Bank

Here short-term FDs ranging from seven days to one year will get 2.75% per annum interest. On the other hand, on making long-term FDs from one to ten years, interest will be available at the rate of 6% per annum.

PNB

Interest of 5.10% will be available on investing in FD in Punjab National Bank for one year. If you invest for three to five years, you will get interest of up to 5.25%.

read this also : Big news for those trading in cryptocurrency, RBI gave these instructions to banks

EPFO gave big relief to PF account holders in Corona, can withdraw 3 months deposit money simultaneously

- Advertisement -
Bhagyashree Soni
Bhagyashree Soni is a software engineer with soft writing skills. She is a degree holder from the International School of Entrepreneurial Leadership. She has been a state-level badminton champion and chess player. A woman with a forthright attitude enjoys her writing passion as her chosen career. Writing in the context of feminism, social-cause and entreprenurship is her forte.
Latest news
- Advertisement -spot_img
Related news
- Advertisement -spot_img

LEAVE A REPLY

Please enter your comment!
Please enter your name here