Fixed deposit interest rate: Everyone thinks of investing money to keep himself and his family safe. Well, there are many ways to invest money. But generally FD i.e. fixed deposit is considered the safest. One money is safe in FD and secondly, interest is also available in it. As you know, FDs are of different time periods and the interest on them is also different. Today we are going to give you complete information about this in this news.
In today’s time, customers are getting good returns on fixed deposit interest rate. Recently the repo rate has been increased by RBI. Since then, banks have also increased the interest rates of FDs. As the Reserve Bank (RBI) is increasing the repo rate, banks are also increasing the FD rate. It is a different matter that loan rates are also getting expensive. Let us tell you that there are some FD schemes which are getting interest up to 7.5 percent. Let us tell you the FD schemes of 10 banks and their interest rates.
Fincare Small Finance Bank is paying the highest interest
In the first place is Fincare Small Finance Bank. Which is giving 7.50 percent interest on FD of 3 to 5 years. In second place is Jana Small Finance Bank which is giving 7.35 percent interest. After this there is the name of Ujjivan Small Finance Bank which is giving 7.20 percent interest on FD of 3 to 5 years. After this the name comes, this bank of Deutsche Bank is giving 7 percent interest to its customers on FDs with maturity of 3-5 years.
Know the interest rates of banks on FD
At the same time, it belongs to Bandhan Bank, which is giving 7 percent interest on FDs of 3 to 5 years. After this, there is the name of AU Small Finance Bank, which is giving 6.90 percent interest to its customers on FDs maturing in 3-5 years.
Indusind Bank is giving interest at the rate of 6.75 percent to its customers. At the same time, Yes Bank is also giving interest on FD to the customers at the same rate. Suryoday Small Finance Bank is the name which is giving 6.75 percent interest on FD (fixed deposit interest) of 3 to 5 years. In the last 10th place is DCB Bank, which is giving 6.60 percent interest on fixed deposits.
Money can work in this way
Suppose if you have bought an FD for 2 years, then the interest earned every quarter will be added to the initial deposit amount. Then in the next quarter interest and interest will be added to the total amount of the deposit. So the interest will keep on increasing with the principal of the FD every quarter.
On the other hand, if you do not want to take FD for 3 to 5 years, then it does not matter. Short tenure FDs are also present in the market. There are FD schemes available from less than 1 year to 3 years. With this FD, you can easily meet your short term FD goals. If there is a big expenditure in two years, then such FD scheme can give you benefit. If you have set a long term goal, then a long term FD will come in handy. In this way you can get good returns from FD.