FD Interest Rates: Investing in fixed deposits is also considered a good option. Its biggest advantage is that it offers both security and fixed returns. Here is a list of 8 banks that offer excellent FD returns within a year. See the full list here.
FD Interest Rates: To save your earnings, there are many investment options available in the market, including stock options for quick short-term profits. For long-term investments, you can invest in bank fixed deposits (FDs). If you’re investing for at least five years, both can be a good option. If you want to earn money through fixed deposits, be sure to calculate the interest rates offered by banks before investing.
FDs offer fixed interest rates and ensure your money is safe. Long-term FDs generally have higher interest rates. Senior citizens also receive higher interest rates than ordinary citizens. Several banks in the country offer interest rates as high as 7%. These include both private and public sector banks. Here’s a list of popular banks in the country, highlighting which banks offer the highest interest rates on one-year FDs.
1. HDFC Bank
HDFC Bank, one of the country’s largest private banks, offers excellent returns on FDs. One-year FDs offer 6.25% interest, while senior citizens are offered 6.75%.
2. ICICI Bank
One-year FDs at ICICI Bank offer 6.25% annual interest, while senior citizens are offered 6.75%. Three-year FDs offer 6.45% to 6.60% interest, and five-year FDs offer 6.40% to 6.60% interest.
3. Kotak Mahindra Bank
This private bank also offers 6.25% interest on one-year FDs for ordinary citizens. It offers 6.75% for senior citizens. Furthermore, it offers the highest returns for FDs with maturities ranging from 391 days to 23 months.
4. Federal Bank
Federal Bank offers 6.25% interest on one-year FDs for general citizens and 6.75% for senior citizens. The highest returns are available for 999-day deposits, with an interest rate of 6.70%.
5. State Bank of India
Investors at State Bank of India, the country’s largest public sector bank, are earning 6.25% and 6.45% annual interest on one-year and two-year FDs. However, the highest returns are available for 2- to 3-year deposits, with an interest rate of 6.45%.
6. Union Bank
This public sector bank offers 6.40% interest on one-year fixed deposits for ordinary citizens. Senior citizens are offered 6.90% interest. The highest return is on 3-year fixed deposits, offering 6.6% interest. Senior citizens are offered 7.1% interest.
7. Canara Bank
This public sector bank offers 6.25% interest on one-year fixed deposits for general citizens and 6.75% for senior citizens. The highest returns are available on FDs with a duration of 444 days. The interest rate for general citizens during this period is 6.50%, while for senior citizens it is 7%.
8. Punjab National Bank
This public sector bank offers 6.25% interest on general citizens and 6.75% for senior citizens. The highest returns are available on FDs with a duration of 390 days. The interest rate during this period is 6.1%, while for senior citizens it is 7.1%.
