FD is a better option for investing and getting better returns. Its interest rates have come down since the Corona period. In such a situation, before investing money, it is important to know the interest rate of different banks.
Most people prefer to invest in fixed deposits (FD) to keep the money safe and get better returns in it. It can also be withdrawn in one to two years, so the number of people who invest in it is more. But since the Corona period, the interest in it has been reduced. In such a situation, if you are planning to get FD, then it is important for you to know that in which bank you will get more interest. So here, see the complete details of banks.
1.Union Bank is currently giving the highest interest rate of 5.6% on FD. Whereas senior citizens are being given interest at the rate of 6.1 percent here.
2. On getting FD in Canara Bank, you will get interest at the rate of 5.5 per cent. Whereas for senior citizens it is 6 percent.
3. At the State Bank of India, the country’s largest bank, you will get interest at the rate of 5.4 percent on FD. Senior citizens will be given interest at the rate of 6.2 percent.
4. In the Bank of India, you will get 5.3 percent interest on FD, while for senior citizens it will be 5.8 percent.
5. In Punjab National Bank, another major bank of the country, you will get interest at the rate of 5.3 percent on fixed deposits. At the same time, senior citizens will get interest at the rate of 5.8 percent.
6. In Punjab and Sindh Bank, you will get interest at the rate of 5.25 percent on FD. Here senior citizens are being given interest at the rate of 5.75.
7- If you get FD in Bank of Baroda, you will get interest at the rate of 5.25 percent and senior citizens are being given interest at the rate of 5.75 percent.
What is FD
Fixed deposit is a process of FD investment which is a safe option to keep money. Also, you get better interest in it. Banks give you several options for the period of fixed deposits, which range from 7 days to 10 years. The interest rate of FD depends on many things like FD duration, financial condition, investment amount, age of investor and FD policy etc. The interest received on this varies depending on the declaration of the government.
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