If you are planning for investment then this is the best time as some big banks have announced to give more interest on fixed deposits. Any individual (including rural or farming community) can make money by investing in bank fixed deposits.
Let us know in detail as to which all bank is offering more interest on FD.
Banks with high-interest rates on FDs
HDFC Bank Fixed Deposit (FD) Rate
The country's largest private bank HDFC Bank has changed interest rates on fixed deposits. Now customers will get more interest in FDs in HDFC Bank. Customers are getting the benefit of this interest only from December 1, 2021.
HDFC Bank Announced an Increase of Up to 10 Basis Points in its Interest Rates.
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7 to 14 days- 2.50%
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15 to 29 days- 2.50%
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30 to 45 days- 3.00%
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46 to 60 days- 3.00%
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61 to 90 days- 3.00%
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91 days to 6 months- 3.50%
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6 months 1 day to 9 months - 4.40%
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Duration of 1 year - 4.90%
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1 year 1 day to 2 years - 5.00%
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2 years 1 day to 3 years - 5.15%
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3 years 1 day to 5 years - 5.35%
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5 years 1 day to 10 years - 5.50%
HDFC Bank provides an interest of 5.50% in normal condition & 6.25% if you are a senior citizen on making FD for a period of 5 to 10 years.
ICICI Bank Fixed Deposit (FD) Rate
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Attractive interest on Fixed Deposit is available in ICICI Bank.
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In ICICI Bank, you can get 4.90% interest on one year fixed Deposit, 5% on a two-year Fixed Deposit, 5.20% on a 3-year Fixed Deposit, 5.40% interest on a 5-year Fixed Deposit.
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At the same time, if you make Fixed Deposit in this bank for a period of 5 to 10 years, you will get the benefit of a 5.60% interest rate in normal conditions & 6.30% in the case of the senior citizen category.
SBI Bank Fixed Deposit (FD) Rate
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The country's largest government bank SBI also offers an attractive interest on Fixed deposits.
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State Bank of India (SBI) FD for 1 to 2 years is an interest rate of 5% in normal condition & 5.50% in the case of senior citizen category.
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On getting an FD for 2 to 3 years, in normal condition, 5.10% & senior citizens get 5.60% interest.
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At the same time, if you make Fixed Deposit in this bank for a period of 5 to 10 years, you will get the benefit of a 5.40% interest rate in normal conditions & 6.20% if you belong to the senior citizen category.
Axis Bank Fixed Deposit (FD) Rate
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Attractive interest is also available on Fixed Deposit in Axis Bank.
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Axis Bank is giving more interest than HDFC & ICICI Bank.
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25% interest on one-year FD, 5.25% on two years FD, and 5.25% on 3 years FD, 5.75% interest on 5 year FD.
