Fixed deposit is called time deposit in post office. But, do you know how much interest is given in post office time deposit and SBI FD and where is the interest higher.

Since people across the country like to invest money in State Bank of India and Post Office schemes and FDs, it is important for you to know which of these two gives higher interest on FD and in how many years the money doubles.

What is the interest rate on SBI FD?

India’s largest public sector bank, State Bank of India, offers interest on FDs based on the deposit tenure. SBI offers interest in the range of 6.25% to 6.30% for FDs with tenures of 1 to 5 years.

– The interest rate on FDs with tenors of one year and less than 2 years is 6.25%.

– The interest rate on FDs with tenors of two years and less than three years is 6.45%.

– The interest rate on FDs with tenures of three years and less than 5 years is 6.30%.

Interest rates in Post Office Time Deposits

The interest rate in Post Office Time Deposits is higher than SBI.

– The interest rate on post office time deposit for one year is 6.9%.

– The interest rate on Post Office Time Deposit for 2 years is 7.0%.

– The interest rate on Post Office Time Deposit for 3 years is 7.1%.

– The interest rate on Post Office Time Deposit for 5 years is 7.5%.

Where money doubles quickly

If the interest on SBI FD and Post Office Time Deposit is calculated as per Rule 72, then money doubles quickly in Post Office Time Deposit. Because, Post Office gives 7.50% interest on a period of 5 years, so the money doubles in 9.5 years.

The post Post Office vs SBI FD: Which Offers Higher Interest & Faster Money Doubling? first appeared on Rightsofemployees.com.

DCB Bank is also included in these which is giving 7.25 percent interest to its general customers on 1 year FD and 7.75 percent interest to senior citizen customers. Let us know about 10 such banks which are giving the highest interest to their customers on 1 year FD.

Here you are getting 7.50% interest

Tamilnadu Mercantile Bank is giving 7.25% interest to its general customers and 7.75% interest to senior citizen customers on 1 year FD. Canara Bank is giving 7% interest to its general customers and 7.50% interest to senior citizen customers on 1 year FD. Karnataka Bank is giving 7% interest to its general customers and 7.40% interest to senior citizen customers on 1 year FD.

Bank of India is also giving bumper returns

Deutsche Bank is giving 7% interest to its general customers and the same interest to its senior citizen customers on 1 year FD. While RBL Bank is giving 7% interest to its general customers and 7.50% interest to its senior citizen customers on 1 year FD. Apart from this, Bank of India is giving 7% interest to its general customers and 7.50% interest to its senior citizen customers on 1 year FD.

Bank of Baroda is offering 7.25% interest

State Bank of India is giving 6.80 percent interest to its general customers and 7.30 percent interest to senior citizen customers on 1 year FD. Whereas, Bank of Baroda is giving 6.75 percent interest to its general customers and 7.25 percent interest to senior citizen customers on 1 year FD. Apart from this, Central Bank of India is giving 6.75 percent interest to its general customers and 7.25 percent interest to senior citizen customers on 1 year FD.

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The post FD Rate: These 10 banks including SBI are giving around 8% interest on 1 year FD, see details first appeared on Rightsofemployees.com.

Seven major banks of the country – SBI, Bank of Baroda, Canara Bank, Indian Bank, Central Bank of India, IDBI Bank and Federal Bank – have come up with a special scheme for their customers. All these banks are offering a special FD scheme of 444 days, in which the interest rate is ranging from 6.60% to 7.60%.

State Bank Of India

State Bank of India (SBI) runs a special FD scheme named “Amrit Vrishti” for its customers, which has a duration of 444 days. In this, people get interest at the rate of 6.85 percent. Senior citizens and super senior citizens get the benefit of 0.50 percent and 0.60 percent additional interest.

Bank Of Baroda

Bank of Baroda (BoB) runs a 444-day FD scheme called bob Square Drive Deposit Scheme for its customers, in which they get interest at the rate of 7 percent. Senior citizens and super senior citizens get the benefit of 0.50 percent and 0.60 percent additional interest.

Canara Bank

Canara Bank customers get 6.60 percent interest on FDs of 444 days. Senior citizen customers get 7.10 percent interest on this FD scheme.

Indian Bank

Indian Bank customers get 6.90 percent interest on 444 days FD scheme. Senior citizens also get reasonable profits.

Central Bank Of India

Central Bank of India customers get 7 percent interest on 444 days FD plan. Whereas, senior citizens get 7.60 percent interest.

IDBI Bank

IDBI customers get 7.1 percent interest on 444 days FD plan. Whereas, senior citizens get 7.50 percent interest.

Federal Bank

Federal Bank customers get 7 percent interest on FDs of 444 days. Senior citizen customers get 7.50 percent interest on this FD scheme.

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In this, your deposit amount is completely safe and gives a fixed return for a fixed period. With the help of the country’s largest government bank SBI, let us understand that if you make an FD of Rs 5 lakh in SBI, then how much will you earn from interest only in 1, 2, 3 and 5 years.

How much return in 1 year?

SBI gives its customers interest at the rate of 6.50 percent on FDs from 211 days to 1 year. Accordingly, if you deposit Rs 5 lakh in SBI FD in a year, you will get Rs 33,301 as interest only. On the other hand, if the bank gives interest at the rate of 7 percent to senior citizens, then they will get Rs 35,930 as interest.

How much return in 2 years?

SBI gives its customers interest at the rate of 6.70 percent on FDs up to 2 years, so in this case, you will get Rs 71,062 as interest on an FD of Rs 5 lakh. At the same time, if the bank gives interest at the rate of 7.20 percent to senior citizens on FDs up to 2 years, then they will get Rs 76,703 as interest.

How much return in 3 years?

SBI gives its customers interest at the rate of 6.90 percent on FDs up to 3 years, so in this case, you will get Rs 1,13,907 as interest on an FD of Rs 5 lakh. At the same time, if the bank gives interest at the rate of 7.40 percent to senior citizens on FDs up to 3 years, then they will get Rs 1,23,021 as interest.

How much return in 5 years?

SBI gives its customers interest at the rate of 6.75 percent on FDs up to 5 years, so in this case, you will get Rs 1,98,749 as interest on an FD of Rs 5 lakh. At the same time, if the bank gives interest at the rate of 7.25 percent to senior citizens on FDs up to 5 years, then they will get Rs 2,16,130 as interest.

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This list includes major banks like SBI, Bank of India, HDFC Bank, Yes Bank, Punjab National Bank and Canara Bank. This decision has been taken with the aim of increasing cash in the market by making the monetary policy more flexible.

SBI

State Bank of India (SBI) has cut interest rates on some of its FD schemes by 10 basis points from April 15, 2025. The interest rate on one year to two year deposits has now come down from 6.80% to 6.70% and on two year to three year deposits from 7.00% to 6.90%. However, senior citizens will get the benefit of additional 0.50% interest under the SBI We-Care scheme as before.

Bank of India

Bank of India (BOI) has also changed the interest rates. The interest rate on deposits of 91 to 179 days has been reduced from 4.50% to 4.25%. The rate on FDs of less than 180 days and one year has been reduced from 6.00% to 5.75%, while the interest on FDs of one to two years will be reduced from 6.80% to 6.75%. Along with this, the bank has also discontinued its 400-day special FD scheme, which earlier used to give 7.30% interest.

HDFC Bank

HDFC Bank has cut interest rates on long-term FD schemes by 35 to 40 basis points. Yes Bank has cut interest rates on FDs of 12 to 24 months by 25 basis points. Due to this, customers will now get less returns than before.

Punjab National Bank

Punjab National Bank (PNB) has also changed the interest rates and now the interest rate on its FD schemes is between 3.50% to 7.10%. The highest interest is being given on FD of 390 days.

Canara Bank

Canara Bank has also cut 20 basis points on some schemes, but its FD of 444 days is still getting 7.25% interest. Senior citizens are getting the benefit of 0.50% and super senior citizens are getting 0.80% additional interest. Experts say that due to the reduction in repo rate, interest rates in banks are decreasing rapidly. In such a situation, investors need to rethink their FD strategy.

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Actually, the new FD scheme of Bank of Baroda (BoB) can be a great opportunity for you. This bank has recently launched a special fixed deposit scheme, in which attractive interest rates are being offered to investors.

Launched under the name of ‘BoB Square Drive Deposit Scheme’, the duration of this scheme has been kept at 444 days, which is specially designed for those investors who are looking for fixed returns. Different interest rates have been fixed for common citizens, senior citizens and super senior citizens in this scheme.

-Where the interest rate for common citizens is 7.15% per annum.

-Senior citizens will get 7.65% and investors above 80 years (super senior citizens) will get 7.75% interest.

The special thing is that if you choose the option of non-callable deposit, the interest rates become even more attractive. In this option, common citizens will get 7.20%, senior citizens will get 7.70% and super senior citizens will get 7.80% annual interest.

Bank of Baroda has also made this scheme available on digital platforms, so that customers can open it through any branch or internet banking. Not only this, new customers can also open it online through video KYC, without any additional process. If you want to invest your savings in a scheme that gives stable and attractive returns, then definitely check out this new FD scheme of Bank of Baroda.

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Here we are going to tell you about a scheme of Bank of Baroda, in which you can get a stable and guaranteed return of Rs 17,668 by investing Rs 2,00,000.

Up to 7.90 percent interest will be available on 400-day FD

Bank of Baroda’s 400-day special FD scheme BOB Utsav Deposit Scheme is getting the highest interest to customers. Customers are not getting this much interest on any other FD scheme of Bank of Baroda. Yes, this government bank is giving 7.30 percent interest to the common people on this 400-day special FD scheme. Not only this, BOB is giving 7.80 percent interest to senior citizens and 7.90 percent interest to super senior citizens on this scheme. Let us tell you that super senior citizens are those citizens who are 80 years of age or above.

Know how much interest you will get: If Rs 2 lakh is deposited in a 400-day FD of Bank of Baroda, then common citizens will get a total of Rs 2,16,268 on maturity, which includes a fixed interest of Rs 16,268. If you are a senior citizen, then you will get a total of Rs 2,17,668 on maturity, which includes a fixed interest of Rs 17,668. And if you are a super senior citizen, then you will get a total of Rs 2,17,902 on maturity, which includes a fixed interest of Rs 17,902. Let us tell you that on any FD account, you get a fixed and guaranteed interest over a certain period.

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These banks are offering the highest interest rates

1. North-East Small Finance Bank

It is offering an interest rate of 9.00% on FDs of 1 year to 3 years, making it the most attractive short-term investment.

2. Suryodaya Small Finance Bank

This bank is offering an interest rate of 9.10% on 5-year FD, which makes it a good option for long-term investors.

3. Unity Small Finance Bank

It is giving 9.50% interest on 1001 days FD and 8.65% on 3 years FD. This bank is giving high returns.

4. Jan Small Finance Bank

It is offering 8.75% interest on FDs of 1 year to 3 years, which makes it a profitable opportunity for short and medium term investors.

5. Equitas Small Finance Bank

It is offering 8.60% interest on 1 year FD and 8.50% interest on 3 year FD, which is the best option to get safe and good returns.

6. Ujivan Small Finance Bank

It is offering 8.60% interest on 18-month FDs, which is an attractive option for medium-term investors. Small finance banks such as Northeast (9.00%), Suryoday (9.10%), and Unity Bank (9.50%) are offering higher returns on FDs than larger banks. Senior citizens who want higher interest while keeping their savings safe can invest in FDs of these banks.

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The post Highest FD Rates: THESE 6 Banks are giving more than 9% interest on FD, check Interest Rates first appeared on Rightsofemployees.com.

According to the website of India Post, interest on time deposit account is paid on an annual basis, but it is calculated every 3 months. In this, you can open an account with just Rs 1000.

Features of Post Office Time Deposit-

Tenure: Available for 1 year, 2 years, 3 years and 5 years tenure.

Interest rate (rates applicable till March 2025):

• 1 year: 6.9 per cent
• 2 years: 7.0 per cent
• 3 years: 7.1 per cent
• 5 years: 7.5 per cent (tax exemption benefit)
• Minimum investment amount: One can start investing in Post Office Time Deposit with just Rs 1000.
• Maximum investment amount: Any maximum amount can be invested in Post Office Time Deposit.
• Tax benefit: If investors invest in the Post Office Time Deposit Scheme for 5 years, then they will be given the benefit of exemption under section 80C of the IT Act.
• Premature withdrawal: Possible after 6 months, but there may be a penalty on the interest rate.
  Auto-renewal Option: Auto-renewal option available after maturity.
• Nomination Facility: You can add a nominee while opening the account.

Let’s know how much money you will get on maturity.

If investors invest in time deposit for 5 years, they are given 7.5 percent interest. If you deposit Rs 10,00,000 lakh in TD for 5 years, then on maturity, investors will get a fund of Rs 14,49,949. By investing in time deposit in 5 years, you get Rs 4,49,949 as interest.

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Post Office Saving Scheme Saving is an important part of everyone’s life, which can become a support whenever needed. Friends and relatives may not be able to help in difficult times, but investing in the right scheme can provide you financial security. With this thought, many people invest money in different savings schemes, such as mutual funds, fixed deposits (FD) or government savings schemes .

In such a case, if you are a senior citizen (Senior CitizensIf you fall in the category of ), then the Post Office Senior Citizens Saving Scheme (SCSS) can be a great option for you. By investing in this scheme, you get regular monthly interest, which maintains your financial stability. Let’s know about this scheme in detail…

Higher interest than FD

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Typically, banks offer high interest on their long term deposits and low when the deposit is made for a short period. A small difference of 50 basis points in interest income can made a considerable difference over a long period.

For instance, an extra income of 1 percent on ₹5 lakh FD gives an income of 15,000 over three years and ₹25,000 over five years. And if the deposit is ₹10 lakh, this can rise to ₹50,000 over a period of five years.

So, this is important to choose the bank offering highest interest rate.

Here we list out the top six banks offering highest rates:

HDFC Bank: As we can see in the table below, HDFC Bank offers 7.25 percent to general citizens and 7.77 percent to senior citizens on an FD of 18 months to 21 months.

ICICI Bank: This private bank offers 7.25 percent to general citizens and 7.85 percent to senior citizens on an FD of 15-18 month tenure.

Kotak Mahindra Bank: This bank offers 7.4 percent to general citizens and 7.9 percent to senior citizens on an FD of 390-391 day tenure.

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Here you are getting up to 8% interest

DCB Bank is giving 7.25 percent interest to its general customers on 1 year FD and 7.75 percent interest to senior citizen customers. While Tamilnad Mercantile Bank is giving 7.25 percent interest to its general customers on 1 year FD and 7.75 percent interest to senior citizen customers. Apart from this, Canara Bank is giving 7 percent interest to its general customers on 1 year FD and 7.50 percent interest to senior citizen customers.

Bumper returns are being offered in RBL Bank

On the other hand, Karnataka Bank is giving 7% interest to its general customers on 1 year FD and 7.40% interest to senior citizen customers. Apart from this, Deutsche Bank is giving the same interest to its general customers on 1 year FD and to senior citizen customers. Whereas RBL Bank is giving 7% interest to its general customers on 1 year FD and 7.50% interest to senior citizen customers.

SBI gives more than 7% interest

Bank of India is giving 7% interest to its general customers and 7.50% interest to senior citizen customers on 1 year FD. Whereas State Bank of India is giving 6.80% interest to its general customers and 7.30% interest to senior citizen customers. Apart from this, Bank of Baroda and Central Bank of India are giving 6.75% interest to their general customers and 7.25% interest to senior citizen customers on 1 year FD.

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The post Top 10 Banks Including SBI are Giving up to 8% Interest on 1 Year FD, see the full list first appeared on Rightsofemployees.com.

Many banks are offering attractive interest rates on Fixed Deposits. The interest on FDs also depends on the tenure of the FD. Here we are telling you about some such banks which are offering attractive interest on FDs.

FD rates of small finance banks: Small finance banks are similar to other commercial banks, but their business activities are limited compared to them.

Northeast Small Finance Bank : 9.00% interest rate for a period of 546 days to 1111 days.
Unity Small Finance Bank : 9.00% interest rate for a period of 1001 days.
Suryoday Small Finance Bank : 8.60% interest rate for FDs of 2 to 3 years.
Jana Small Finance Bank: 8.25% interest rate for FDs of 1 to 3 years.
Utkarsh Small Finance Bank : 8.50% interest rate for 2 to 3 years.
Equitas Small Finance Bank: 8.25% interest rate for 888 days.

The post Highest FD rate: These banks are giving the highest interest rate on FD, read this news before investing first appeared on Rightsofemployees.com.

Investors who are looking for good fixed returns can get FD done in these banks. Know how much return you will get on FD of Rs 1 lakh:

Many people still prefer to invest in fixed deposits (FD). Investors who want to stay away from the fluctuations of the stock market and who like low but fixed returns, invest money in FD. Many banks are offering great interest to investors on FD. The interest rate for senior citizens is slightly higher than for general investors. Many small banks are giving investors up to 9 percent return on FD.Northeast Small Finance Bank

Northeast Small Finance Bank

This bank is offering 9 percent interest to investors on investing from 546 days (18 months) to 1111 days (3 years). If you invest one lakh rupees in this bank, then this amount will increase to Rs 119483 in two years. On the other hand, if you invest for 3 years, then after 3 years you will get Rs 130605 on maturity. That is, you will get a profit of Rs 30605.

Unity Small Finance Bank

This bank is also offering interest at the rate of 9 percent per annum to investors. The bank is giving this interest rate on an investment of 1001 days (2 years 9 months). If you make an FD of Rs 1 lakh in this bank for this period, then you will get Rs 130605 on maturity. That is, you will get a return of Rs 30605 on Rs 1 lakh in 1001 days.

Suryoday Small Finance Bank

This bank is offering 8.6 percent annual interest to investors. However, this interest rate will be available only to those investors whose FDs are between 2 to 3 years. If you make an FD of Rs 1 lakh for two years, then after two years you will get Rs 118551. That is, you will have a profit of Rs 18551. On the other hand, if you make an FD for 3 years, then after 3 years you will get Rs 129080. In this time you will have a profit of Rs 29080.

Utkarsh Small Finance Bank

This bank is also giving good interest to the investors. This bank is offering 8.50 percent interest on FDs of 2 to 3 years. If you make an FD of Rs 1 lakh in this bank for two years, then you will get Rs 118320 after two years. That means you will have a profit of Rs 18320. On the other hand, you will get Rs 128702 on maturity of three years. In this time, you will have a profit of Rs 28702.

Equitas Small Finance Bank

This bank is also offering more than 8% interest on FDs to investors. It is offering 8.25% interest rate to investors on special FDs of 888 days. If you make an FD of Rs 1 lakh in this bank, you will get Rs 117742 on maturity. That is, you will get a profit of Rs 17742 on an FD of Rs 1 lakh for 888 days.

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If you make a fixed deposit, then you are getting a great offer from Tata Group. Actually, Tata Digital has announced to enter the retail investment sector with the launch of Fixed Deposit Marketplace on the super app ‘Tata New’. On this occasion, the company said in a statement, now customers can make FD with us at interest rates up to 9.1 percent without opening a savings bank account.

The company said, “With Fixed Deposit Marketplace, we aim to democratise access to financial products like fixed-return deposits by offering higher interest rates from multiple trusted providers.

Starting from 1000 rupees

Gaurav Hazrati, Chief Business Officer, Financial Services, Tata Digital, said, “This easy and secure platform is designed to offer competitive interest rates. Through this, both experienced investors and newcomers will be able to invest easily.”

With credit protection too

The company said that customers can make an FD of at least Rs 1,000. The special thing is that in this fixed deposit, they will also get insurance of bank investment up to Rs 5 lakh by Deposit Insurance and Credit Guarantee Corporation (DICGC).

The company said that customers can choose from both banks and non-banking financial companies (NBFCs) like Suryoday Small Finance Bank, Shriram Finance, Bajaj Finance for a wide range of investment options like FDs.

These banks are also giving up to 9% interest on FD

• North East Small Finance Bank is offering 9 per cent interest on 3-year FD.
• Suryoday Small Finance Bank is offering 8.6 percent interest rate on 3-year FD.
• Utkarsh Small Finance Bank is offering 8.5 per cent interest on 3-year FD.
• Jan Small Finance Bank is offering 8.25 per cent interest on its 3-year FD.

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Keeping the interests of the people in mind, government and private banks also keep launching attractive FD schemes. Now Punjab National Bank has also launched two new fixed deposits. Up to Rs 3 crore can be invested in these 303-day and 506-day fixed deposits.

Investors depositing money in the new FD of Punjab National Bank with a tenure of 303 days will get 7 percent interest. Similarly, the interest rate for the tenure of 506 days is 6.7 percent. These new interest rates have come into effect from January 1, 2025. Senior citizens and super senior citizens will get more interest by investing money in both these FDs. Senior citizens will be given 7.5 percent interest on the FD with a tenure of 303 days and 7.2 percent interest on the FD with a tenure of 506 days. Punjab National Bank is giving 7.85 percent interest on the FD with a tenure of 300 days and 7.5 percent interest on the FD with a tenure of 506 days to super senior citizens.

Interest for general customers from 3.50% to 7.25%

Punjab National Bank FD for general citizens from 7 days to 10 years. The bank’s interest rate is from 3.50% to 7.25%. The highest interest rate is 7.25%, which is available on FD with a tenure of 400 days. For senior citizens, PNB is offering 4% to 7.75% interest on FD for 7 days to 10 years. The highest interest of 7.75% is available on FD with a tenure of 400 days.

For super senior citizens (80 years and above), Punjab National Bank is offering interest ranging from 4.30% to 8.05% on FDs for 7 days to 10 years. Currently, the bank is offering 8.05% interest on a tenure of 400 days.

The post New Bank FD: Govt bank launches 2 new FDs, from interest to tenure, know all the important things first appeared on Rightsofemployees.com.

Most people prefer to invest in FD because it is safe. If you are also among such investors then there is good news for you. RBI has issued a new guideline regarding fixed deposits, which you should know about. From January 1, 2025, there will be no penalty on premature withdrawal within 3 months of making FD.

RBI has implemented new rules for Housing Finance Companies (HFC) and Non-Banking Finance Companies (NBFC) keeping in mind the interests of investors. This includes everything from making a nominee to FD premature withdrawal rules. Let’s know about the new rules of RBI.

RBI’s new rule related to FD

According to the new rule of Reserve Bank of India (RBI), you will have the freedom to withdraw money within 3 months of making an FD. You can withdraw the entire amount of small deposits (up to Rs 10,000) within 3 months without any interest. Whereas for large deposits, partial withdrawal of up to 50% of the principal amount or Rs 5 lakh (whichever is less) can be done within three months without interest.

Not only this, in cases of critical illness, the depositor is allowed to withdraw the entire principal amount prematurely without interest, regardless of the deposit term. Also, for more timely updates, now non-bank financial companies (NBFCs) will be required to inform the depositors about the maturity details at least two weeks before the maturity date.

Other changes to be implemented from January 1, 2025

Nominee update: Non-banking financial companies (NBFCs) have been directed to create a proper system to inform about the receipt of the correctly filled nomination form, cancellation or change of nominee. It will be necessary to give this acknowledgement to all customers, whether they have requested it or not.

Withdrawal rules: As per RBI’s directive, individual depositors holding public deposits will be allowed to request premature withdrawal within three months from the date of deposit. Within three months, the depositor can withdraw a maximum of 50% of the principal amount or Rs 5 lakh (whichever is less) without any interest. In this way, he will continue to get interest on the remaining amount.

In case of critical illness: In case of critical illness, depositors have a right to request withdrawal of their entire original deposit amount within three months from the date of deposit. Note that this rule also applies to existing deposit contracts that previously did not allow the right of premature withdrawal within the first three months.

Deposit maturity information: Earlier, NBFCs were required to inform depositors about the maturity date of their deposits at least two months in advance. But now for more timely updates, NBFCs will have to inform the depositors about the maturity date at least 14 days before the maturity date.

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The Reserve Bank of India (RBI) will implement revised rules related to fixed deposits (FDs) with non-banking financial companies (NBFCs) and housing finance companies (HFCs). These updates, announced in August, include guidelines on deposit acceptance, repayment, nominations and emergency expenses.

Major changes in fixed deposit rules

As per the new RBI guidelines, depositors can withdraw small deposits up to Rs 10,000 without interest within three months of deposit. For large deposits, partial withdrawals up to 50% of the principal amount or Rs 5 lakh (whichever is lower) are allowed within the same time frame, without interest.

In cases where a depositor faces a critical illness, they can withdraw the entire principal amount prematurely, regardless of the period of deposit. This provision dictates that individuals can access their funds during an emergency without any penalty.

Notification requirements for NBFCs

In addition, NBFCs are now required to inform depositors about maturity information at least two weeks before the maturity date. This requirement is aimed at providing timely updates and ensuring that depositors are well informed about their investments.

These changes reflect RBI’s efforts to enhance transparency and flexibility in fixed deposit schemes. By understanding these new rules, one can make informed decisions about their financial plans for the year.

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The post RBI Fixed Deposit Rules: Reserve Bank made these changes in fixed deposits from January 1, Check Details first appeared on Rightsofemployees.com.

These 7 banks are giving the highest returns

• SBM Bank: SBM Bank offers the highest interest rate of 8.25% to senior citizens, which is suitable for safe and profitable investment.
• Yes Bank: Yes Bank offers FD option to senior citizens with an interest rate of 8%, which makes their investment safe and profitable.
• DCB Bank: DCB Bank offers an interest rate of 8.05% to senior citizens, making their investment safe and profitable.
• Bank of Baroda: Bank of Baroda offers senior citizens an interest rate of 7.75% on three-year FDs, which makes their investment safe and profitable.
• Axis Bank: Axis Bank offers senior citizens an interest rate of 7.60% on three-year FDs, making their investment safe and profitable.
• HDFC Bank: HDFC Bank offers an interest rate of 7.50% to senior citizens on three-year FDs, making their investment safe and profitable.
• Canara Bank: Canara Bank offers senior citizens an interest rate of 7.30% on three-year FDs, making their investment safe and profitable.

TDS on interest exceeding Rs 50,000

Interest rates may change from time to time. Therefore, before investing, make sure to confirm from the official website of the concerned bank or the nearest branch. Additionally, senior citizens should also keep in mind the taxation aspects on interest earned on FDs, as TDS (Tax Deducted at Source) may be applicable on interest of more than Rs 50,000 in a financial year.

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The post Fixed Deposit: Senior citizens are getting more than 8% strong return on FD in these 7 banks, know first appeared on Rightsofemployees.com.

In this, a fixed amount is deposited for a fixed period. Let us know what interest rates are being offered on FD in major banks like SBI, PNB, BoB, HDFC, ICICI and Canara Bank and how much maturity amount will be received on an investment of Rs 5 lakh.

SBI (State Bank of India) FD Interest Rates

SBI gives 7.25% interest rate to general citizens on its 444 days Amrit Vrishti FD scheme. At the same time, the interest rate on 1 year, 3 year and 5 year FD is 6.80%, 6.75% and 6.50% respectively.

• Return on investment in 1 year: For an investment of Rs 5 lakh, the maturity amount will be ₹5,34,877.
• Returns in 3 years: Maturity amount ₹6,11,196.
• Returns in 5 years: Maturity amount ₹6,90,210.

PNB (Punjab National Bank) FD Interest Rates

PNB offers 7.25% interest on its 400 days FD scheme. Interest rates on 1 year, 3 year, and 5 year FDs are 6.80%, 7%, and 6.50%, respectively.

• Return on Investment in 1 Year: Maturity Amount ₹5,34,877.
• Returns in 3 years: Maturity amount ₹6,15,720.
• Returns in 5 years: Maturity amount ₹6,90,210.

Canara Bank FD Interest Rates

Canara Bank offers 7.25% interest on FDs of 444 days. Interest rates on 1 year, 3 year, and 5 year FDs are 6.85%, 6.80%, and 6.70%, respectively.

• Return on Investment in 1 Year: Maturity Amount ₹5,35,140.
• Returns in 3 years: Maturity amount ₹6,12,099.
• Returns in 5 years: Maturity amount ₹6,97,033.

BoB (Bank of Baroda) FD Interest Rates

BoB offers 7.30% interest on 400 days FD scheme. Interest rates on 1 year, 3 year, and 5 year FDs are 6.85%, 7.15%, and 6.80%, respectively.

• Return on Investment in 1 Year: Maturity Amount ₹5,35,140.
• Returns in 3 years: Maturity amount ₹6,18,448.
• Returns in 5 years: Maturity amount ₹7,00,469.

HDFC Bank FD Interest Rates

HDFC Bank offers 7.40% interest on 4 years 7 months (55 months) FDs. Interest rates on 1 year, 3 year, and 5 year FDs are 6.60%, 7%, and 7%, respectively.

• Return on Investment in 1 Year: Maturity Amount ₹5,33,826.
• Returns in 3 years: Maturity amount ₹6,15,720.
• Returns in 5 years: Maturity amount ₹7,07,389.

ICICI Bank FD Interest Rates

ICICI Bank offers 7.25% interest on FDs of 15 months to 2 years. Interest rates on 1 year, 3 year, and 5 year FDs are 6.70%, 7%, and 7%, respectively.

• Return on Investment in 1 Year: Maturity Amount ₹5,34,351.
• Returns in 3 years: Maturity amount ₹6,15,720.
• Returns in 5 years: Maturity amount ₹7,07,389.

Bank FD is a safe and fixed income source for investors who want to grow their money without any risk. Compare interest rates before investing and choose a bank as per your need. This investment can prove to be more beneficial for senior citizens as they get additional interest.

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The post Fixed Deposit: You will get THIS Much Interest on Investing 5 Lakhs in SBI, PNB, HDFC, BOB – Check the interest rate first appeared on Rightsofemployees.com.

1. Federal Bank

Federal Bank has changed the interest rates on FDs of less than ₹ 3 crore. The new rates are applicable from 16 December 2024.Interest rate for general citizens: 3% to 7.4%.Interest rate for senior citizens: 3.5% to 7.9%.

2. RBL Bank

RBL Bank has also revised interest rates on FDs of less than ₹3 crore. These rates are effective from 15 December 2024.Interest rate for general citizens: 3.5% to 8%.Interest rate for senior citizens: 8.5%.Interest rate for super senior citizens (80 years and above): 8.75%.

3. Karnataka Bank

Karnataka Bank has changed the interest rates on FDs less than ₹3 crore from 2 December 2024. Interest rate for general citizens: 3.5% to 7.5%. Interest rate for senior citizens: 3.5% to 8%.

4. Bank of Maharashtra

Bank of Maharashtra has also changed the interest rates on FDs less than ₹3 crore from 11 December 2024.Interest rate for general citizens: 2.75% to 7.35%.Interest rate for senior citizens: 2.75% to 7.85%.

5. Equitas Small Finance Bank

Equitas Small Finance Bank has revised the interest rates on FDs from December 2, 2024.Interest rate for general citizens: 3.5% to 8.25%.Interest rate for senior citizens: 2.75% to 9%. Senior citizens will get additional 0.25% interest on tenure of 888 days.

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The post Bank FD rate: These 5 Banks Have Increased Interest on FD, You will Get Huge Profit first appeared on Rightsofemployees.com.

This increase has been done on FDs of only a few periods. However, HDFC Bank has not increased the interest on FDs up to Rs 3 crore. Rather, this time the interest rates on bulk FDs have been revised. The bank has changed the interest rates on FDs ranging from Rs 3 crore to Rs 5 crore. These new rates have come into effect from December 5, 2024.

HDFC Bank’s interest rates on FDs ranging from Rs 3 crore to Rs 5 crore

• 7 days to 14 days: For general public – 4.75%; For senior citizens – 5.25%
• 15 days to 29 days: For general public – 4.75%; For senior citizens – 5.25%
• 30 days to 45 days: For general public – 5.50 percent; For senior citizens – 6 percent
• 46 days to 60 days: For general public – 5.75 percent; For senior citizens – 6.25 percent
• 61 days to 89 days: For general public – 6 per cent; For senior citizens – 6.50 per cent
• 90 days to 6 months: For general public – 6.50 percent; For senior citizens – 7 percent
• 6 months 1 day to less than 9 months: For general public – 6.85 per cent; For senior citizens – 7.35 per cent
• 9 months 1 day to less than 1 year: For general public – 6.75 per cent; For senior citizens – 7.25 per cent
• Less than 1 year to 15 months: For general public – 7.40 percent; For senior citizens – 7.90 percent
• 15 months to less than 18 months: For general public – 7.05 per cent; For senior citizens – 7.55 per cent
• 18 months 1 day to less than 21 months: For general public – 7.25 per cent; For senior citizens – 7.75 per cent
• 21 months to 2 years: For general public – 7.05 percent; For senior citizens – 7.55 percent
• 2 years 1 day and upto 3 years: For general public – 7.00%; For senior citizens – 7.50%
• 3 years 1 day to 5 years – 7.00 percent; For senior citizens – 7.50 percent
• 5 years 1 day to 10 years: For general public – 7.00 percent; For senior citizens – 7.50 percent

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The post FD rate Hike: Good news! HDFC Bank has increased interest rates on Fixed Deposit. check latest rate first appeared on Rightsofemployees.com.

Actually, the country’s largest public sector lender State Bank of India (SBI) offers its 400 days special FD scheme in which customers get maximum interest up to 7.60 percent. The name of this popular scheme is SBI Amrit Kalash. Let us tell you that once again seeing the popularity of this scheme, the bank has now extended its deadline till March 31, 2025.

The deadline of the scheme had to be extended several times

Let us tell you that the bank launched the SBI Amrit Kalash scheme for the first time on 12 April 2023. At this time the bank had fixed its deadline as June 30, 2023. After this it was extended to December 31, 2023. Once again, seeing its popularity, the bank extended its deadline to March 31, 2024. Despite this, seeing the popularity of this scheme not decreasing, the bank had to extend its deadline to September 30, 2024. Now customers can invest in this scheme till March 31, 2025.

In this scheme, you get up to 7.60% interest

Let us tell you that SBI Amrit Kalash is a 400-day special FD scheme in which general customers get a maximum interest of 7.10 percent on investing. On the other hand, senior citizen customers get 50 basis points more interest i.e. up to 7.60 percent on investing in this scheme. Let us tell you that under this scheme, customers can deposit a maximum amount of up to Rs 2 crore.

This is how an account is opened in this scheme

To invest in SBI Amrit Kalash FD scheme, customers can go to any branch near them. For this, you will need Aadhar card, PAN card, passport size photo, mobile number and email ID as your documents. After this, you will get a form for this scheme from the bank, after filling which your account will be opened.

The post SBI’s 400 days FD scheme, here you get up to 7.60% interest; Check details immediately first appeared on Rightsofemployees.com.

In the last few days, 3 banks have changed the FD interest rates. If you get an FD in them, then you can get up to 8.25 percent interest. Let’s know which are these 3 banks.

1. Yes Bank FD interest rates

You can get up to 8.25 percent interest on FD of up to Rs 3 crore in Yes Bank. Recently, the bank has reduced the interest rates by 25 basis points on FDs of 18 months duration. These new rates are effective from November 5, after which the interest rate for this period has become 7.75 percent. Now common citizens will get interest ranging from 3.25 percent to 7.75 percent on FD in Yes Bank. On the other hand, senior citizens will get interest ranging from 3.75 percent to 8.25 percent. The highest interest is being given only on the period of 18 months. It is 7.75 percent for common citizens, while it is 8.25 percent for senior citizens.

2- Punjab & Sind Bank FD interest rates

Punjab and Sindh Bank has revised the interest rates on November 14 itself. Now Yes Bank’s interest rates for common citizens are between 4 percent to 7.45 percent and senior citizens are being given an additional interest of 0.50 percent. These interest rates are for a period of 7 days to 10 years. The bank is giving 7.50 percent interest on 555 days non-callable FD. Senior citizens are being given 8 percent interest on this FD.

3- Bank of Maharashtra FD interest rates

The post FD Interest Rates: These 3 banks have revised c, you will get interest up to 8.25% first appeared on Rightsofemployees.com.

These new interest rates have come into effect from November 5, 2024. Now the interest rates of FD for general customers range from 3.25% to 7.75%, while for senior citizens these rates range from 3.75% to 8.25%. The highest interest rate is being offered on 18-month FD, with a rate of 7.75% for general customers and 8.25% for senior citizens. The interest rate on 18-month FD has been reduced from 8% earlier to 7.75%, a reduction of 25 bps.

Yes Bank FD

The bank has increased the interest rates on FDs of certain tenures on FDs of less than Rs 2 crore. Yes Bank has made these rates effective from 30 May 2024. Yes Bank is now offering interest rates between 3.25% to 7.75% to general citizens and 3.75% to 8.25% to senior citizens on FDs maturing in seven days to ten years.

Yes Bank FD Rules

The minimum amount required to start an FD is Rs 10,000. Senior citizens get 0.50% extra interest on FDs of less than 3 years and 0.75% extra interest on FDs of 3 years or more, which is applicable on FDs of less than Rs 5 crore.

Penalty for premature withdrawal of FD

There is a penalty for premature withdrawal of FD, which will be applicable on FDs of less than Rs 5 crore.

Yes Bank FD Rates

• 7 days to 14 days: 3.25 per cent (general public)/ 3.75 per cent (senior citizens)
• 15 days to 45 days: 3.70 per cent (general public)/ 4.20 per cent (senior citizens)
• 46 days to 90 days: 4.10 per cent (general public)/ 4.60 per cent (senior citizens)
• 91 days to 120 days: 4.75 per cent (general public)/ 5.25 per cent (senior citizens)
• 121 days to 180 days: 5 per cent (general public)/ 5.50 per cent (senior citizens)
• 181 days to 271 days: 6.10 percent (general public)/ 6.60 percent (senior citizens)
• 272 days to less than 1 year: 6.35 per cent (general public)/ 6.85 per cent (senior citizens)
• One year: 7.25 per cent (general public)/ 7.75 per cent (senior citizens)
• 1 year to 18 months: 7.50 per cent (general public)/ 8 per cent (senior citizens)
• 18 months: 7.75 per cent (general public)/ 8.25 per cent (senior citizens)
• 18 months to less than 24 months: 7.75 per cent (general public)/ 8.25 per cent (senior citizens)
• 24 months 1 day to less than 36 months: 7.25 per cent (general public) / 7.75 per cent (senior citizens)
• 36 months to 60 months: 7.25 per cent (general public)/ 7.75 per cent (senior citizens).
• 60 months: 7.25 per cent (general public)/ 8 per cent (senior citizens)
• 60 months 1 day to 120 months: 7 per cent (general public)/ 7.50 per cent (senior citizens)

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The post Fixed Deposit New Rates: Yes Bank has reduced the interest rates on Fixed Deposit – Check Latest Rate first appeared on Rightsofemployees.com.

If you want more interest on fixed deposits, then a digital platform is offering you 9.5 percent interest on FD. Financial digital platform Mobikwik has announced to offer instant fixed deposit (FD) products on its mobile app in partnership with financial services companies. Mobikwik said in a statement that the aim of this financial product is to simplify the savings process for its users. The company has offered fixed deposit users to start investing from Rs 1,000 and get a return of up to 9.5 percent annually without opening a new bank account. Users can choose a deposit period from seven days to 60 months.

Partnership with these NBFCs

MobiKwik said in a statement that the aim of this financial product is to simplify the savings process for its users. According to the MobiKwik website, it has partnered with Mahindra Finance, Shriram Finance and Bajaj Finserv to offer its FD. Apart from this, MobiKwik has also partnered with Suryoday Small Finance Bank, Bajaj Finance and other NBFCs.

Benefits of online FD

• No need for a new bank account: You don’t need to go through the hassle of opening a new bank account to start investing.
• High interest rates: Interest rates on FDs are up to 9.5%, which is much higher than most banks.
• Option to choose tenure: There is also an option to choose the tenure of the FD as per your financial needs.

Fixed deposit is an investment in which a person invests a lump sum amount in a bank for a fixed period. The amount deposited in FD earns interest at a fixed rate which is decided at the time of opening the account.

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The post Digital Fixed Deposit: Mobikwik offer up to 9.5 percent interest on Fixed Deposit. Details Here first appeared on Rightsofemployees.com.

In this, if you want, you can get an annual interest of up to 9.45 percent. Both a normal customer and senior citizen can invest at very attractive rates. Let us know here which are those companies that are offering high interest.

Up to 9.42 percent interest is being offered here

This private sector NBFC is also offering up to 9.42 percent interest on FDs of 1500 days. Similarly, it is offering up to 9.15 percent interest on FDs of 700 days to less than 2 years. Similarly, it is offering interest ranging from 8.25 percent to 9.15 percent on FDs for a period of more than three years and less than four years. Apart from this, according to the official website, interest ranging from 8.50 percent to 9.42 percent is being offered on FDs of 730 days to 1095 days. You can get up to 8.88 percent interest on FDs of 365 days to 699 days.

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Here you are getting up to 8.75 percent return

Ujjivan Small Finance Bank is also offering great returns on FDs. According to the official website, this bank is offering interest up to 8.75 percent. In this, you will get 8.25 percent interest on 12 months FD. Senior citizens are being offered 8.75 percent interest for the same period. If you make an FD for 12 months 1 day to 560 days (80 weeks), the bank will offer you 8.0 percent interest.

Here you are getting up to 9.45% interest

NBFC company Shriram Finance is currently offering a great interest rate on FDs. The company’s initial offer starts at 7.96 percent interest which is available on 12-month FDs. The company is offering 8.91 percent interest to general customers and 9.45 percent interest to senior citizens on its latest scheme 50-month Jubilee Deposit. Even if you make an FD for 60 months, you will be offered the same interest rate. Apart from this, the company is also offering great interest rates on FDs of 42, 36, 30 and 24 months.

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The post Fixed Deposit: Here is the opportunity to get FD at annual interest up to 9.45% , see details here first appeared on Rightsofemployees.com.

In fact, for the past few years, apart from the country’s big private and public sector lender banks, non-banking financial companies (NBFC) are also giving bumper returns to customers on FD. Many of these NBFC companies are offering more than 9.50 percent return to customers on FD. In such a situation, let us know about 5 such non-banking financial companies which are offering the highest interest rate to their customers on FD.

1.Suryoday Small Finance Bank

If you are planning to invest in FD, then Suryoday Small Finance Bank can prove to be a better option for you. Suryoday Small Finance Bank is offering 9.10 percent interest to its general customers and up to 9.60 percent interest to senior citizen customers for a period of 5 years.

2. Unity Small Finance Bank

Unity Small Finance Bank is offering up to 9 percent interest on 1001 day FD to its general customers and up to 9.50 percent interest to senior citizen customers.

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3. Fincare Small Finance Bank

Fincare Small Finance Bank is offering 8.51 per cent interest on 1000 days FD to its general customers and 9.11 per cent interest to its senior citizen customers.

4. Equitas Small Finance Bank

Equitas Small Finance Bank is offering 8.50% interest to its general customers on FDs of 888 days. Whereas, it is offering 9% interest to its senior citizen customers for the same period.

5. ESAF Small Finance Bank

Let us tell you that ESAF Small Finance Bank is offering 8.50 percent interest to its general customers on FDs of 2 years to less than 3 years. Whereas for the same period, the bank is offering 9 percent interest to its senior citizen customers.

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The post 5 Best Option: Here customers will get up to 9.60% interest on FD; Know the details first appeared on Rightsofemployees.com.

Also, banks have now started giving good interest on FD. On the other hand, banks offer higher interest on FD to senior citizens (people aged 60 years or more) than to common people. Many banks are offering up to 8.75 percent interest to senior citizens on FDs with a tenure of 5 years. However, these interest rates are for deposits up to Rs 3 crore.

These banks are giving good interest to senior citizens

1. Suryoday Small Finance Bank

This bank is offering 7.35 percent interest rate to senior citizens on FDs up to one year. At the same time, it is offering 9.10 percent interest rate on two-year FDs and 8.75 percent interest rate on 5-year FDs. If you invest one lakh rupees in it for 5 years, then you will get Rs 1,54,154 after 5 years.

2. Unity Small Finance Bank

This bank is also giving good returns on FDs to senior citizens. This bank is offering 8.35 percent interest rate on one year FD. At the same time, it is offering 8.40 percent interest rate on two year FD and 8.65 percent interest rate on FD of 5 years or more. If you invest one lakh rupees in 5 year FD of this bank, then after 5 years you will get Rs 1,53,402.

3. Utkarsh Small Finance Bank

Utkarsh Bank is also offering good interest on FD to senior citizens. This bank is giving 8.60 percent interest to senior citizens on one year FD. At the same time, it is giving 9.10 percent interest on two year FD and 8.35 percent interest rate on 5 year FD. If you invest one lakh rupees in 5 year FD of this bank, then after 5 years you will get Rs 1,51,165.

Also Read: FD rate Change: ICICI Bank’s new rates have come into effect from today, 2…

4. AU Small Finance Bank

AU Small Finance Bank is also giving good returns on FD to senior citizens. This bank is offering 8.25 percent interest rate on one year FD. If we talk about two year FD, then it is offering 7.75 percent interest rate on it. However, this bank is also offering 7.75 percent interest rate on 5 year FD. If you invest one lakh rupees in 5 year FD of this bank, then after 5 years you will get Rs 1,46,784.

5. Ujjivan Small Finance Bank

Ujjivan Bank is also ahead in terms of giving returns on FD to senior citizens. This bank is giving 8.75 percent interest rate on one year FD. At the same time, it is offering 8.25 percent interest rate on two year FD. Apart from this, this bank is giving 7.70 percent interest rate on 5 year FD. If you make an FD of Rs 1 lakh in this bank for 5 years, then you will get Rs 1,46,425 after 5 years.

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The post Senior citizens FD: These banks are giving great interest to senior citizens on 5 year FD, know full details first appeared on Rightsofemployees.com.

According to the report, the bank has planned to increase the maximum period of FD to 20 years. According to the information, investors will also be given the option of systematic withdrawal in 20-year FD.

This will be similar to the annuity plan offered by life insurance companies, but for a limited period. Investors will be allowed to gradually withdraw their money from this FD after 10 years.

What is a Fixed Deposit

Fixed deposits provide fixed income and capital protection, which is why it has become a popular investment option. Apart from this, FD also helps in meeting short-term financial needs. It becomes a major source of income in case of emergency and after retirement. FD interest rates of scheduled banks range from 2.50% to 9.00% per annum for common citizens, with a tenure of 7 days to 10 years.

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The post FD: Soon depositors will be able to open a fixed deposit for 20 years: Report first appeared on Rightsofemployees.com.

Good news for FD customers! Banks have started increasing fixed deposit rates or new FD schemes to attract customers. Due to increasing investment in mutual funds and decline in bank deposits, FD rates of banks and NBFCs remain at a high level. Let us tell you that RBL Bank, Federal Bank and IDBI Bank have launched special FD schemes for both general customers and senior citizens. Let us know how much interest is being given in the special FD of these banks.

RBL Bank FD

RBL Bank has announced a 500-day special FD on the occasion of Independence Day, the rates of which start from 8.1% to 8.85%. This private sector bank is offering 8.1% interest to normal FD customers booking a 500-day FD scheme. Senior citizens (above 60 years of age but below 80 years of age) will get 8.6% and super senior citizens (above 80 years of age) will get 8.85% rate on FD. Customers can book fixed deposit schemes both online and offline using the RBL Bank app or by visiting a bank branch.

Federal Bank FD

Federal Bank has also announced a special scheme on Independence Day, under which customers are being offered fixed deposit rates up to 8.05%. The bank has announced new rates for deposits with tenures of 400 days, 777 days and 50 months. Normal citizens will be offered FD rates of 7.35%, 7.40% and 7.40% respectively. Senior citizens will get 7.85%, 7.90% and 7.90% interest rates respectively on FDs of these tenures. Under the non-callable category, the bank is offering 7.5%, 7.55% and 7.55% interest rates to general citizens on FDs of tenures of 400 days, 777 days and 50 months respectively. Senior citizens will get 8%, 8.05% and 8.05% interest rates respectively on FDs of these tenures. These rates are applicable on non-callable deposits of more than Rs 1 crore.

IDBI Bank FD

IDBI Bank is offering an interest rate of 7.05% to general citizens on its special Utsav FD maturing in 300 days. Senior citizens are being offered an interest rate of 7.55% on Utsav FDs of tenure of 300 days. On a tenure of 700 days, an interest rate of 7.20% is being offered for general citizens and 7.70% for senior citizens. For Utsav FDs with tenure of 375 days, interest rates are up to 7.25% for general citizens and up to 7.75% for senior citizens. On FD schemes with tenure of 444 days, the bank now offers an interest rate of 7.35% for general citizens and 7.85% for senior citizens. The new rates will be applicable from August 15, 2024.

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The post Special FD: These banks are offering up to 8.85% interest on limited period FDs, get FD done quickly first appeared on Rightsofemployees.com.

Fixed Deposit Scheme: The common people of the country have many great options available for investment. These include many schemes like mutual funds, PPF, NPS, bank FD. But even today a large section of India considers bank FD (fixed deposit) to be the safest investment. In bank FD, investors have to invest for a fixed period, on which they get fixed and guaranteed returns. Due to fixed and guaranteed returns, common people trust bank FD the most.

Money will more than double on 10-year FD

Usually people invest in FD for 1 or 2 years. But if you invest in FD for a long period, you can get bumper profits. Private sector Axis Bank and HDFC Bank are offering 7 percent interest to general customers on 10-year long term FD scheme. The most special thing about this period is that at this interest rate, you can invest as much money as you want for a period of 10 years, you will get more than double the money on maturity.

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How much money will you get on maturity on making FD in Axis Bank

If you make an FD of Rs 10,00,000 in Axis Bank for 10 years, then you will get Rs 20,01,597 on maturity. Let us tell you that Axis Bank is giving 7.75 percent interest to senior citizens on 10-year term FD scheme. If a senior citizen invests Rs 10 lakh in this term FD scheme, then he will get Rs 21,54,563 on maturity.

How much money will you get on maturity if you make an FD in HDFC Bank

Similarly, if you make an FD of Rs 10,00,000 in HDFC Bank for 10 years, then you will get Rs 20,01,463 on maturity. Let us tell you that HDFC Bank is giving 7.50 percent interest to senior citizens on FD scheme of 10 years duration. If a senior citizen invests Rs 10 lakh in this FD scheme, then he will get Rs 21,02,197 on maturity.

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The post Fixed Deposit Scheme: Invest ₹10 lakh in these FD schemes and get ₹21 lakh, know complete details first appeared on Rightsofemployees.com.

Actually, apart from the big government and private banks of the country, Small Finance Banks also offer bumper returns to their customers on FD. Let us know about 10 such Small Finance Banks which are offering up to 9.60 percent interest to their customers on FD.

Here you get maximum interest of 9.60%

Suryodaya Small Finance Bank is offering 9.10 percent interest to its general customers on 5-year FDs and 9.60 percent interest to its senior citizen customers. Unity Small Finance Bank is offering 9 percent interest to its general customers on 1001-day FDs and 9.50 percent interest to its senior citizen customers.

Apart from this, Fincare Small Finance Bank is offering 8.51 percent interest to its general customers on 1000-day FDs and 9.11 percent interest to its senior citizen customers. Equitas Small Finance Bank is offering 8.50 percent interest to its general customers on 888-day FDs and 9 percent interest to its senior citizen customers. On the other hand, ESAF Small Finance Bank is offering 8.50 percent interest to its general customers on FDs of 2 years to less than 3 years and 9 percent interest to its senior citizen customers.

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Here you get maximum 9% interest

On the other hand, Jana Small Finance Bank is offering 8.50 percent interest to its general customers on FDs of 500 days and 9 percent interest to senior citizen customers. Whereas Utkarsh Small Finance Bank is offering 8.25 percent interest to its general customers on FDs of 1000 days to 1500 days and 8.85 percent interest to senior citizen customers. Apart from this, Ujjivan Small Finance Bank is offering 8.25 percent interest to its general customers on FDs of 560 days and 8.85 percent interest to its senior citizen customers.

Whereas Shivalik Small Finance Bank is offering 8.15 percent interest to its general customers on FDs of 24 months to 36 months and 8.65 percent interest to senior citizen customers. At the same time, AU Small Finance Bank is giving 7.75 percent interest to its general customers on FDs of 24 months 1 day to 36 months, while it is giving 8.25 percent interest to its senior citizen customers.

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IDBI Bank said in a statement that now interest will be paid at the rate of 7.85 per cent and 7.75 per cent per annum respectively on fixed deposits with tenure of 444 days and 375 days.

How can you book Utsav FD?

The bank said that this increase makes ‘Utsav FD’ even more attractive for customers seeking higher yield. According to the statement, this offer is valid till September 30, 2024. Customers can easily avail the benefits of Utsav FD through the bank’s website or mobile banking app or any branch of the bank.

7.70% interest for 700 days tenure

Apart from this, IDBI Bank will continue to offer competitive rates on other special tenures under the Utsav FD scheme. Under this, the maximum interest rate of 7.70% is given for a tenure of 700 days, while for a tenure of 300 days it is 7.55%.

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Slow growth of deposits

Let us tell you that the slow growth of deposits in banks has caused worry lines on the forehead of not only the banks but also the government. Meanwhile, many banks have come up with special FD schemes to encourage customers to deposit more money with them.

For example, SBI has launched the ‘Amrit Vrishti’ scheme, under which the bank is offering 7.25 percent interest for 444 days. Similarly, Bank of Baroda has launched the ‘Monsoon Dhamaka’ deposit scheme, under which 7.25 percent interest rates are being offered for 399 days and 7.15 percent for 333 days.

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State Bank of India is also running many special fixed deposits. One such special FD is ‘SBI Amrit Vrishti FD’. This special FD was launched this year itself. The bank is giving 7.25% annual interest to the general customer on this FD of 444 days. At the same time, 7.75% annual interest is being given to senior citizens.

The special thing is that you can invest in SBI Amrit Vrishti FD from home. That is, you do not even need to go to the branch. You can buy this FD through net banking and SBI YONO app. You also have the option of investing in this special FD by going to the bank branch. Investment can be made in SBI Amrit Vrishti FD till 31 March 2025.

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You can make FD for 7 days to 10 years.

State Bank of India provides FDs of various tenures to its customers. In India’s largest bank, you can make FDs for tenures ranging from 7 days to 10 years. The interest rates of FDs of different tenures are also different. SBI is giving 3.50% to 4.00% interest on FDs of 7 to 45 days. 5.50% to 6.00% interest is being given on FDs of 46 to 179 days, 6.25% to 6.75% on FDs of 180 to 210 days and 6.50% to 7.00% interest is being given on FDs of tenures from 211 to less than 1 year.

6.80% to 7.30% interest is being given on FDs with tenure of 1 year to less than 2 years, 7.00% to 7.50% on FDs with tenure of 2 years to less than 3 years, 6.75% to 7.25% on FDs with tenure of 3 years to less than 5 years and 6.50% to 7.50% on FDs with tenure of 5 years to 10 years.

SBI is also running Amrit Kalash scheme

State Bank of India (SBI) is also running a special fixed deposit (FD) scheme Amrit Kalash. Under this scheme, senior citizens are being given 7.60% annual interest on FD and general customers are being given 7.10% annual interest. In this fixed deposit scheme, investment has to be made for 400 days.

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However, the risk of investing in Small Finance Bank is slightly higher than normal banks. Whereas in terms of returns, Small Finance Banks (SFB) offer much higher interest than normal banks. At present, some Small Finance Banks are offering up to 9.60 percent interest to their customers on FD. Let us know about 10 such Small Finance Banks which are offering the highest interest to their customers on investing in FD.

The highest interest rate available here is 9.60%

Suryodaya Small Finance Bank is offering 9.10 percent interest to its general customers on 5-year FDs and up to 9.60 percent interest to its senior citizen customers. While Unity Small Finance Bank is offering 9 percent interest to its general customers on 101-day FDs and 9.50 percent interest to senior citizen customers. Apart from this, Fincare Small Finance Bank is offering 8.51 percent interest to its general customers on 1000-day FDs and 9.1 percent interest to senior citizen customers.

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On the other hand, Equitas Small Finance Bank is offering 8.50 percent interest to its general customers on 888-day FDs and 9 percent interest to senior citizen customers. At the same time, ESAF Small Finance Bank is offering 8.50 percent interest to its general customers on FDs ranging from 2 years to less than 3 years and 9 percent interest to senior citizen customers.

Here you are getting 9% interest on FD

On the other hand, Jana Small Finance Bank is giving 8.50 percent interest to its general customers and 9 percent interest to senior citizen customers on FDs of 500 days. While Utkarsh Small Finance Bank is giving 8.25 percent interest to its general customers and 8.85 percent interest to senior citizen customers on FDs of 1000 to 1500 days. Apart from this, Ujjivan Small Finance Bank is giving 8.25 percent interest to its general customers and 8.75 percent interest to senior citizen customers on FDs of 560 days.

While Shivalik Small Finance Bank is giving 8.15 percent interest to general customers and 8.65 percent interest to senior citizen customers on FDs of 24 months to 36 months. On the other hand, Au Small Finance Bank is giving 7.75 percent interest to its general customers on FDs of 24 months 1 day to 36 months, while it is giving 8.25 percent interest to its senior citizen customers.

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For a short period, investments can be made from 7 days to 12 months and for a long period, investments can be made from 1 year to 10 years. Let us know what interest rates the banks are offering.

Private Bank

HDFC Bank FD Interest Rates

HDFC Bank is offering interest rates ranging from 3% to 6% for general citizens for tenures ranging from 7 days to less than 1 year.

ICICI Bank FD Interest Rates

ICICI Bank is also offering interest rates ranging from 3% to 6% for general citizens for tenures ranging from 7 days to less than 1 year.

Yes Bank FD Interest Rates

Yes Bank is offering interest rates ranging from 3.25% to 7.25% for general citizens for tenures ranging from 7 days to 1 year.

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SBI FD Interest Rates

State Bank of India (SBI) is offering interest rates ranging from 3% to 5.75% for general citizens for tenures ranging from 7 days to 1 year.

PNB FD Interest Rates

Punjab National Bank (PNB) is offering interest rates ranging from 3% to 7% for general citizens for tenures ranging from 7 days to 1 year.

Canara Bank FD Interest Rates

Canara Bank is offering interest rates ranging from 4% to 6.85% for general citizens for tenures ranging from 7 days to 1 year.

Unity Small Finance Bank

Unity Small Finance Bank is offering interest rates ranging from 4.50% to 7.85% for general citizens for tenures ranging from 7 days to 1 year.

Jana Small Finance Bank

Jana Small Finance Bank is offering interest rates ranging from 3% to 8.50% for general citizens for tenures ranging from 7 days to 1 year.

Suryodaya Small Finance Bank

Suryoday Small Finance Bank is offering interest rates ranging from 4% to 6.85% for general citizens for tenures ranging from 7 days to 1 year. Banks and finance banks are offering interest rates for different tenures and investment amounts. Investors can choose the appropriate bank and tenure as per their requirements and convenience.

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Interest rates on bulk FD of BOI Bank..

Minimum Deposit Amount for above maturities and bucket is Rs.10,000/- except court orders/special deposit categories
# Senior Citizen- Age 60 years or above but less than 80 years,
## Super Senior Citizen- Age 80 Year & above.

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If you want to invest in Fixed Deposit i.e. FD, then this news is useful for you. Actually, the country’s largest government bank, State Bank of India (SBI) has given great news to its investors. The bank has increased the interest rate on Fixed Deposit i.e. FD. SBI has increased the interest rates on FD of less than Rs 3 crore. The new rates have become effective from June 15, 2024. Now SBI investors can get more profit on FD.

SBI has increased the interest rate by 25 basis points (0.25%) on deposits of certain durations. The bank has increased the interest rate on FDs maturing in 180 days to 210 days and 211 days to less than one year.

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SBI FD Rates –

• 7 days to 45 days: For general public – 3.50 per cent; For senior citizen – 4 per cent
• 46 days to 179 days: For general public – 5.50 per cent; For senior citizen – 6 per cent
• 180 days to 210 days: For general public – 6.25 per cent; For senior citizen – 6.75 per cent
• 211 days to less than 1 year: For general public – 6.50 per cent; For senior citizen – 7 per cent
• 1 year to less than 2 years: For general public – 6.80 per cent; For senior citizen – 7.30 per cent
• 2 years to less than 3 years: For general public – 7.00 per cent; For senior citizen – 7.50 per cent
• 3 years to less than 5 years: For general public – 6.75 per cent; For senior citizen – 7.25%
• 5 years to 10 years: For general public – 6.50%; For senior citizen – 7.50%

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If you also want to earn high returns in less time, then invest in them in time. Indian Bank, IDBI Bank and Punjab & Sind Bank are offering special FD schemes till June 30. At the same time, you can invest in SBI’s special FD scheme Amrit Kalash till September 30, 2024.

Punjab and Sindh Bank Special FD Scheme

Punjab and Sindh Bank is offering special FDs of 222 days, 333 days and 444 days to its customers. These special FDs are offering a maximum interest of 8.05 percent. According to the bank’s website, the bank is offering 7.05 percent interest on FDs of 222 days, 7.10 percent on FDs of 333 days and 7.25 percent on FDs of 444 days. The bank is offering 8.05 percent interest to super senior citizens on FDs of 444 days.

Indian Bank Special Fixed Deposits

Indian Bank is offering a special FD scheme to its customers. Public sector bank Indian Bank is offering 300 and 400 days FD to its customers. According to the website of Indian Bank, one can invest in FD schemes named Ind Super 400 and Ind Supreme 300 days till 30 June 2024.

Ind Super 400 days FD Scheme

This special FD is a callable FD. Callable FD means that in this you get the option to withdraw money before time. Indian Bank’s Ind Super FD is for 400 days. You can invest from Rs 10,000 to Rs 2 crore in this scheme. Indian Bank is now offering 7.25% interest to the general public and 7.75% to senior citizens and 8.00% interest to super senior citizens.

Ind Super 300 days

According to the website of Indian Bank, the special term deposit product Ind Super 300 days was launched on 1 July 2023. You can invest from Rs 5000 to less than Rs 2 crore on this FD for 300 days. The bank is offering interest ranging from 7.05 percent to 7.80 percent on this. Indian Bank is now offering 7.05% interest rate to the general public and 7.55% to senior citizens and 7.80% to super senior citizens.

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IDBI Bank Special Fixed Deposit Scheme

IDBI Bank is offering special Fixed Deposit to its lakhs of customers. IDBI Bank is offering special FDs of 300 days, 375 days and 444 days. It is offering 7.75 percent interest on this. This special scheme is available to customers till 30 June 2024.

IDBI Utsav Special 400 days FD Scheme

According to the IDBI Bank website, one can invest in the Utsav FD scheme till June 30, 2024. IDBI Bank is paying 7.25% interest on FDs of 444 days to regular customers, NRIs and NRO customers. The bank also allows investors to withdraw and close this FD prematurely.

IDBI Utsav FD Scheme 375 Days

IDBI Bank is giving 7.60% interest to senior citizens investing in 375 days Utsav FD. At the same time, regular customers, NRI and NRO customers are being given 7.10% interest on 375 days FD. The bank also gives the option of premature withdrawal or closure of this FD.

IDBI Utsav 300 Days FD Scheme

IDBI Bank is offering 7.55% interest to senior citizens investing in 300 days Utsav FD. At the same time, regular customers, NRI and NRO customers are being offered 7.05% interest on 300 days FD. This FD also allows premature withdrawal of money.

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DCB Bank

DCB Bank has revised its FD interest rates for amounts less than Rs 2 crore. According to the DCB Bank website, the new rates are effective from May 22, 2024. The bank is offering the highest FD interest rate of 8 per cent to general customers and 8.55 per cent to senior citizens after the revision for the period of 19 months to 20 months.

IDFC FIRST Bank

IDFC First Bank has revised FD interest rates on amounts less than Rs 2 crore. The new rates are effective from May 15, 2024. After the change, the bank currently offers interest rates ranging from 3 per cent to 7.90 per cent for general citizens on deposits maturing in 7 days to 10 years. The bank offers 0.50 per cent additional interest to senior citizens. The bank offers interest rates ranging from 3.50 per cent to 8.40 per cent to senior citizens. The highest interest rate of 8 per cent is offered to general citizens and 8.40 per cent to senior citizens on a period of 500 days.

State Bank Of India

SBI has increased its FD interest rates on retail deposits (up to Rs 2 crore) and bulk deposits (above Rs 2 crore) for a certain period. According to the SBI website, the new FD rates are effective from May 15, 2024.

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Utkarsh Small Finance Bank

Utkarsh Small Finance Bank has revised its FD interest rates for amounts less than Rs 2 crore. The revised rates are effective from May 1, 2024. After the revision, the bank is offering interest rates between 4 per cent to 8.50 per cent for general citizens while for senior citizens, the bank offers interest rates between 4.60 per cent to 9.10 per cent. The highest interest rate of 8.50 per cent is being offered to general citizens and 9.10 per cent to senior citizens for a period of 2 years to 3 years.

RBL Bank

RBL Bank has revised FD interest rates for amounts less than Rs 2 crore. The revised FD interest rates are effective from May 1, 2024. RBL Bank offers the highest interest rate of 8 per cent on FDs maturing between 18 and 24 months. Senior citizens on the same FD tenure will earn an additional 0.50 per cent i.e. 8.50 per cent interest rate and super senior citizens (80 years and above) are eligible for an additional interest rate of 0.75 per cent i.e. 8.75 per cent.

Capital Small Finance Bank

Capital Small Finance Bank has revised FD interest rates for amounts less than Rs 2 crore. The revised rates are effective from May 6, 2024. The bank is offering interest rates between 3.5 per cent to 7.55 per cent to general citizens. The bank is offering interest rates between 4 per cent to 8.05 per cent for senior citizens. The highest interest rate is being offered for a period of 400 days.

City Union Bank

City Union Bank has revised FD interest rates for amounts less than Rs 2 crore. The revised FD interest rates are effective from May 6, 2024. The bank is offering interest rates between 5 per cent to 7.25 per cent for general citizens and 5 per cent to 7.75 per cent for senior citizens. The highest interest rate of 7.25 per cent to general citizens and 7.75 per cent to senior citizens is being offered for a period of 400 days.

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Let us tell you that in the last few years, the country’s big private and public sector lenders are giving better returns to their customers on FD. Many of these banks are giving up to 7.75 percent interest to their customers on 1 year FD. Let us know about 5 such banks which are giving the highest returns to their customers on 1 year FD.

DCB Bank

DCB Bank is offering 7.25% interest on 1-year FDs to its general customers. Whereas, the bank is offering 50 basis points higher interest i.e. 7.75% to its senior citizen customers for the same time period.

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Tamilnad Mercantile Bank

Tamilnad Mercantile Bank is giving 7.25% interest on 1 year FD to its general customers. Whereas, for the same time period, senior citizen customers of the bank get 7.75% interest on FD.

Canara Bank

Ordinary customers who make 1 year FD in Canara Bank get 7% interest. Whereas senior citizens are getting 7.50% interest on FD for the same time period.

Karnataka Bank

Karnataka Bank is giving 7% interest on 1 year FD to its general customers. Whereas the bank is giving 7.40% interest to its senior citizen customers for the same time period.

Deutsche Bank

Deutsche Bank is giving 7% interest to its general customers on 1 year FD. While the bank is also giving 7% interest to its senior citizen customers on 1 year FD.

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If you are planning to get bumper returns with guaranteed income by investing your savings in the near future, then this news is useful for you. In fact, Indian customers still consider Fixed Deposit (FD) as one of the best options for safely investing their savings.

Let us tell you that along with banks, many non-banking financial companies (NBFCs) also offer bumper interest on FD. Let us know about 5 such NBFCs which are giving returns of up to 9.60% to their customers on FD.

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1.Suryoday Small Finance Bank

If you are planning to invest in FD then Suryoday Small Finance Bank can prove to be a better option for you. Suryoday Small Finance Bank is offering 9.10% interest to its general customers and 9.60% interest to senior citizen customers for a tenure of 5 years.

2. Unity Small Finance Bank

Unity Small Finance Bank is offering 9% interest on FD of 1001 days to its general customers and up to 9.50% interest to senior citizen customers.

3. Fincare Small Finance Bank

Fincare Small Finance Bank is offering 8.51% interest on 1000 day FD to its general customers and 9.11% interest to its senior citizen customers.

4. Equitas Small Finance Bank

Equitas Small Finance Bank is giving 8.50% interest to its general customers on FD of 888 days. Whereas for the same period it is offering 9% interest to its senior citizen customers.

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5. ESAF Small Finance Bank

Let us tell you that ESAF Small Finance Bank is offering 8.50% interest to its general customers on FD for 2 years to less than 3 years. Whereas for the same period the bank is offering 9% interest to its senior citizen customers.

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This means that you can now make early withdrawals of up to Rs 1 crore before maturity of all fixed deposits (FD) (FD new rules). Here let us tell you that banks offer two types of FDs. One callable and the other, non-callable. Callable deposits allow early withdrawals, while non-callable deposits do not.

The Reserve Bank of India (RBI) in a notification issued on October 26 said the minimum amount for offering non-callable FDs may be increased from Rs 15 lakh to Rs 1 crore or Rs 1 crore. And all domestic fixed deposits can be accepted. Customers will be able to withdraw only less amount than this at first. The directive will also apply to the new rules for non-resident (external) rupee (NRE) deposits/ordinary non-resident (NRO) deposits, reports Financial Express.

Banks will be free to provide FDs without the option of premature withdrawal. Provided that all fixed deposits accepted from customers (single or joint) in amounts of Rs 15 lakh and below shall have the facility of early withdrawal. Now the rule has been amended. Early withdrawal options will also be available for NRE/NRO account holders on FD (fixed deposit) deposits up to Rs 1 crore.

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Senior Citizen Fixed Deposit: The government has earned more than Rs 27,000 crore in tax from interest on investments in fixed deposits of senior citizens of the country. This is a good figure and as per the previous figures, a significant increase has been registered in it.

Tax taken from senior citizens
The government has collected more than Rs 27,000 crore tax from senior citizens on interest earned on fixed deposits in the last financial year. This information has been received according to the report of SBI Research, the country’s largest lender.

The scheme is quite popular among senior citizens
The report of SBI Research says that in the last five years, the total amount of deposits increased by 143 percent to Rs 34 lakh crore at the end of the financial year 2023-24, whereas five years ago it was Rs 14 lakh crore. According to the report, due to high interest rates on fixed deposits, this deposit scheme has become quite popular among senior citizens. During this period, the total number of fixed deposit accounts has increased by 81 percent to 7.4 crore.

Estimated deposit of more than Rs 15 lakh – SBI Research
SBI’s research estimates that out of these, an amount of more than Rs 15 lakh is deposited in 7.3 crore accounts. Keeping in mind the estimate of 7.5 percent interest on these deposits, senior citizens have earned Rs 2.7 lakh crore in the last financial year only in the form of interest. The report says that this includes Rs 2.57 lakh crore from bank deposits and the remaining amount from Senior Citizen Savings Scheme.

“Assuming 10 per cent (average) tax paid by senior citizens as consistent across all categories, the tax collection by the Government of India in this regard would be approximately Rs 27,106 crore,” the report said. Many banks of the country are also offering interest up to 8.1 percent on their fixed deposits to senior citizens.

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So this news is for you because here is the complete list in which complete information is written about the interest rates that private and public sector banks are giving you on fixed deposits based on time.

Fixed Deposit Interest Rates: The common man is very troubled due to inflation. In today’s time, every person tries his best to save for his bad times and family but remains worried as to where to invest his savings so that he can get good interest also. In such a situation, let us tell you about those private and public sector banks which are offering good interest rates.

ICICI Bank

This bank gives interest between 3 to 7.2 percent depending on the number of years of FD. If the tenure of your FD is 15 months to 2 years, this bank will give you maximum interest of Rs 7.20 only. When the tenure of FD is between 2 years to 5 years, the interest rate will be 7 percent and when the tenure of FD is between 1 year to 15 months, the interest rate will be up to 6.7 percent.

SBI

Depending on the tenure of FD, this bank gives you interest rate of 3.5 to 7 percent. If the FD is for 2 to 3 years then the maximum interest rate available is 7 percent. On the other hand, if you make an FD between 3 to 5 years, the interest rate will be 6.75 percent, for 5 to 10 years, the interest rate will be 6.5 percent and finally, if you make an FD within 1 to 2 years, you will get an interest rate of 6.8 percent every year. Is.

HDFC bank

This bank offers interest ranging from 3 to 7.25 percent every year. While the lowest interest rate is 3-4.25 percent, the highest interest rate is 7-7.25 percent. When the time for depositing money in FD is 2 years 11 months to 35 months, then the bank will give interest at 7.25 percent. When this time is 4 years 7 months to 55 months, then the interest rate on FD deposits will be 7.20 percent and when this time is 1 year to 15 months, then the interest rate on FD deposits will be 6.6 percent.

Kotak Mahindra Bank

By making FD from this bank, you get interest rates ranging from 4 to 7.25 percent depending on the time. In FDs with tenure between 365 days to 2 years, you get a maximum interest rate of 7.25 percent. You get interest rates up to 7% on FDs of 180 days, 7% on FDs of 2-3 years, 6.5% on FDs of 3 to 4 years and up to 6.25% on FDs of 4 to 7 years.

Bank of Baroda

Depending on how old the FD is, this bank gives interest rates between 4.25 percent to 7.25 percent. While on FD of 2 to 3 years, the interest rate will be up to 7.25 percent, on FD of 399 days, the annual interest will be up to 7.15 percent. The bank will give you an interest rate of 7.10 percent for 360 days and 6.85 percent interest rate for 1 to 2 years.

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Fixed Deposit: When it comes to your hard-earned money, you would want to invest your money in multiple financial instruments that not only protect your capital but also provide assured returns. Fixed deposits remain the preferred savings instrument for many Indians. Mainly because they offer guaranteed returns that do not depend on market volatility. It is a handy tool that allows you to diversify your portfolio while providing modest returns.

Fixed deposit is a safe option for investment

Fixed deposits are considered a safe investment option as the principal amount is safe and the returns are predetermined. This makes it a low-risk investment compared to other financial instruments. FDs provide some degree of certainty about returns. Thus attracting conservative investors who prioritize stability over the potentially high returns that are often associated with risky investments.

Another factor increasing the popularity of FDs is that they are easy to understand and easy to operate. Investors deposit a lump sum for a fixed period and receive interest at a predetermined rate on the principal amount. The simplicity of this investment makes it accessible to a wide range of individuals, including those with limited financial knowledge.

Investing in fixed deposits is not as risky as the stock market.

Whereas FD has a fixed tenure. Banks and financial institutions often provide some degree of liquidity through premature withdrawal options. Although this may involve reduction in penalties and interest rates, there should be flexibility to access money in case of emergencies.

An important feature especially for older investors. Fixed deposits provide a stable and predictable source of returns in times of economic uncertainty or market volatility. This stability is attracting risk-averse investors who want to protect their funds from market fluctuations.

Banks, post offices, other financial institutions can open fixed deposit accounts.
You can open a fixed deposit account in any bank, post office and other financial institutions across India. Banks often offer additional interest rates to senior citizens. That makes fixed deposits an attractive option for retirees or those looking for a stable income source during their post-employment years.

Above are the interest rates of 10 big banks on fixed deposits. If you invest Rs 1 lakh here for three years, you will get this much money as per the data given above. Data compiled by BankBazaar.com on February 5, 2024.

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ICICI Bank and Federal Bank have increased the interest rates on fixed deposits (FD Rate Hike). ICICI Bank has increased the interest rate on bulk FD. The bank will now give more interest on FD ranging from Rs 2 crore to Rs 5 crore. The new rates have come into effect from 8 February 2024.

The bank is now offering maximum interest of 7.40 percent per annum. At the same time, after the Federal Bank has increased the interest rates on FD, customers can get interest at a maximum rate of 8 percent per annum. The new interest rates of Federal Bank have come into effect from 6 February.

ICICI Bank is offering bulk FD ranging from 7 days to 10 years. The bank is offering the highest interest on bulk FDs maturing in 1 year to 389 days. The bank is giving 7.40 interest on FD of this period to both general customers and senior citizens. Federal Bank is offering 7.50 percent interest to ordinary citizens on FD of 500 days, while it is offering 8 percent interest to senior citizens.

ICICI Bank FD Rates

ICICI Bank is now giving 4.75 percent interest to general customers and senior citizens on FDs of 7 days to 14 days and 15 to 29 days. It is giving 5.50 percent interest on FD of 30 days to 45 days. Customers are getting 5.75 percent interest on FD of 46 days to 60 days. 6 percent on FD of 61 days to 90 days,

6.50 percent on FD of 91 days to 120 days, 6.50 percent for 121 days to 150 days and 151 to 184 days, 185 days to 210 days and 211 days to 270 days. The bank is giving 6.75 percent interest. The bank is giving 6.85 percent interest on FD of 271 days to 289 days. ICICI Bank is giving 7.40 percent interest on FD of 1 year to 389 days to general customers and senior citizens.

Federal Bank FD Interest Rate

You can get FD in Federal Bank for a period ranging from 7 days to 10 years. The bank has increased the interest rate for 500 days to 7.50 percent for general people and 8 percent for senior citizens. Is giving. The bank is giving 0.50 percent additional interest to senior citizens. Federal Bank is giving 3 percent interest to customers on FDs maturing in 7 to 29 days and 3.25 percent interest on FDs maturing in 30 to 45 days.

Customers will get 4.00 percent annual interest on FDs maturing in 46 days to 60 days and 4.75 percent annual interest on FDs maturing in 61 days to 119 days. 5 percent on FDs maturing in 120 to 180 days, 5.75 percent on FDs maturing in 181 days to 270 days, 6 percent on FDs maturing in 271 days to less than one year and 1 year to less than 15 months. The bank will give 6.80 percent interest on maturing FD.

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113 year old public sector bank Central Bank of India has revised the interest rates on FDs of less than Rs 2 crore. After the revision of this interest rate, the bank is offering 3.5 percent to 7 percent interest to its regular customers on FDs ranging from 7 days to 10 years. The bank is giving interest ranging from 4% to 7.50% to senior citizen customers on FD of this period.

Central Bank of India is offering a maximum interest of 7% to its regular customers on FDs of two years to less than three years. Senior citizens will get maximum interest of 7.50%. According to the official website of the bank, these new rates have come into effect from January 10, 2024.

After this change in interest rates, the bank is giving 3.5 percent interest to its general customers on FD of 7 days to 14 days, 3.75 percent on FD of 15 days to 45 days and 4.50 percent on FD of 46 days. 4.75 percent interest will be available on FD of 60 days to 90 days. At the same time, the bank will give 5.50 percent interest on FD of 91 days to 179 days and 6 percent interest on FD of 180 to 270 days. The bank is now guaranteeing 6.25 percent returns on deposits maturing in 271-364 days.

At 6.75 percent, Central Bank of India is now offering the maximum interest on FDs with maturity of one year to less than two years. The bank is offering 7 percent interest on deposits between 2 to 3 years and 6.50 percent interest on deposits less than 3 to 5 years. The interest rate on deposits maturing in five to ten years is now 6.25 percent.

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How much interest will you get on FD?

Senior citizens will get the benefit of higher interest in this FD of Bajaj Finance. If you book this FD on Finserv app and web, then you will get the benefit of interest rate of 8.85 percent on 42 months FD. Apart from this, people below 60 years of age will get interest rate of 8.60 percent on this FD. The revised rates will be applicable on new deposits and renewals of completed deposits up to Rs 5 crore for a period of 42 months.

Company secretaries are making customers digital

Sachin Sikka, Head of Fixed Deposit and Investment Division, Bajaj Finance, said that our offering on FD now enables depositors to think digitally. In this, the facility of higher interest is available especially on FD through Bajaj Finserv App and Web…’

44.68 million net users

As of September 30, 2023, Bajaj Finance has 76.56 million customers with about 44.68 million net users on its app platform. According to data.io report, Bajaj Finserv app is the fourth most downloaded app in the finance sector on Play Store in India. At the same time, by September 30, 2023, the company has emerged as the largest company in the country to book deposits worth Rs 54,821 crore and more than 14 lakh.

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Interest increased on FD for which tenures?

The bank has increased the interest on FDs of 180 days to 270 days from 5.5 percent to 6 percent. The bank has increased the interest on FDs of 271 days to less than one year by 0.45 percent to 6.25 percent. Earlier it was 5.80 percent. The interest on 400 days FD has been increased by the bank from 6.80 percent to 7.25 percent. At the same time, the bank has reduced the interest on FD of 444 days from 7.35 percent to 6.80 percent.

Source: PNB

The bank is giving interest ranging from 4 percent to 7.75 percent to senior citizens. At the same time, the bank is giving interest ranging from 4.3 percent to a maximum of 8.05 percent to very senior citizens.

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SBI increased FD rates

After this increase in interest rates, SBI has increased the interest rates on FDs of 7 days to 45 days by 50 basis points to 3.50 percent, on FDs of 46 days to 179 days by 25 basis points to 4.75 percent, on FDs of 180 days to 210 days it has increased the interest rates on FDs by 50 basis points to 3.50 percent. Interest rates on FDs have increased by 50 basis points to 5.75%, interest rates on FDs of tenure between 211 days to less than 1 year have increased by 25 basis points to 6% and interest rates on FDs of tenure between 3 years to 5 years have increased by 25 basis points to 6.75%. Is done.

Now customers will get this much interest on FD

That is, after this increase in interest rates, customers will get 3.50% on FD of 7 days to 45 days, 4.75% on FD of 46 days to 179 days, 5.75% on FD of 180 days to 210 days, 211 days to 1 year. 6% on FDs of less than 1 year, 6.80% on FDs of 1 year to 2 years, 7% on FDs of 2 years to less than 3 years, 6.75% on FDs of 3 years to less than 5 years and 6.50% interest will be available on FD from 5 years to 10 years.

Senior citizens will get additional 50 basis points interest

On the other hand, State Bank of India will offer 50 basis points more interest rate to its senior citizen customers after the increase in interest rates. This means that now SBI will give 4% to 7.50% interest to its senior citizen customers for FD of 7 days to 10 years. Let us tell you that earlier SBI had changed its FD rates in the month of February.

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Fixed Deposit is the most popular investment medium in India. Fixed deposit schemes of banks are considered better for safe investment and guaranteed returns. By investing in FD scheme in banks, you get money on maturity at a fixed interest rate. But do you know that you can also earn every month from fixed deposit. Just as you get money every month by doing a job, in the same way you can earn every month in this FD scheme of the bank. Its name is fixed deposit monthly income plan.

What is this monthly income plan?

There are 2 options in FD scheme. The first option is Cumulative FD, where on maturity the amount is received by adding both principal and interest. Whereas in Non-Cumulative FD scheme, regular payout is done at a fixed interval. While applying, you can choose the option of monthly, quarterly, half yearly and annual payout. On choosing the monthly option, the amount keeps coming into the account every month.

Features of FD monthly income plan

1. There is no processing fee to start this scheme.

2. Any amount can be deposited in FD Monthly Income Scheme from minimum Rs 1000 to maximum.

3. Despite market fluctuations, investors get monthly returns as per the fixed interest, which means it is completely safe.

4. Loan facility is also available against Fixed Deposit Monthly Income Scheme. Investors can take loan against their deposits.

5. To meet his financial needs, the investor can withdraw his cash at any time by completing a prescribed formality.

Beneficial for this category of people

Fixed Deposit Monthly Income is a better option for senior citizens who can earn monthly income on their deposits while keeping them safe. If they invest their savings in cumulative FD, they will not get continuous money and will get the money only on maturity. At the same time, in non-cumulative FD, their money will also be safe, they will get returns and they will also keep getting money in their hands in the form of interest every month or three months.

Tax rules

If you invest in a tax saver fixed deposit account, you can avail tax exemption on amount up to Rs 1,50,000 in a financial year under Section 80C of the Income Tax Act. If the monthly income or return in a financial year is more than Rs 40,000 then the bank deducts 10% TDS. In case of senior citizens, this amount is Rs 50,000.

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According to the bank’s website, the new rates have come into effect from November 21, 2023. The bank is offering FD ranging from 7 days to 120 months. The bank is offering interest ranging from 3.25 percent to 7.75 percent to common citizens. At the same time, the bank is offering interest ranging from 3.75 percent to 8.25 percent to senior citizens.

New rates on Yes Bank FD – These rates are on FD less than Rs 2 crore.

7 days to 14 days: 3.25 percent (General Public)/ 3.75 percent (Senior Citizens)

15 days to 45 days: 3.70 percent (General Public)/ 4.20 percent (Senior Citizens)

46 days to 90 days: 4.10 percent (General Public)/ 4.60 percent (Senior Citizens)

91 days to 120 days: 4.75 percent (General Public)/ 5.25 percent (Senior Citizens)

121 days to 180 days: 5% (General Public)/ 5.50% (Senior Citizens)

181 days to 271 days: 6.10 percent (General Public)/ 6.60 percent (Senior Citizens)

272 days to less than 1 year: 6.35 percent (General Public)/ 6.85 percent (Senior Citizens)

One year: 7.25 percent (General Public)/ 7.75 percent (Senior Citizens)

1 year to 18 months: 7.25 percent (General Public)/ 7.75 percent (Senior Citizens)

18 months to less than 24 months: 7.75 percent (General Public)/ 8.25 percent (Senior Citizens)

24 months 1 day to less than 36 months: 7.25 percent (General Public) / 7.75 percent (Senior Citizens)

36 months to 60 months: 7.25 percent (General Public)/ 7.75 percent (Senior Citizens).

60 months: 7.25 percent (General Public)/ 8 percent (Senior Citizens)

60 months 1 day to 120 months: 7% (General Public)/ 7.50% (Senior Citizens)

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Overseas Bank (Indian Overseas Bank) has increased the interest rates on FDs of more than one year but less than 2 years by 0.30 percent. Earlier the bank was giving 6.50 percent interest on FD of this period and now it is giving 6.80 percent interest on it. Indian Overseas Bank has also reduced the interest on FD of 444 days to 7.10 percent instead of 7.25 percent. These are the new interest rates on FD of Indian Overseas Bank.

You will get 7.10% interest instead of 7.25% for 444 days.

Till now 7.25 percent interest was being given on 444 days FD of Indian Overseas Bank. Now it has been reduced to 7.10 percent. The bank will continue to offer additional 0.50 per cent interest on the standard rate to senior citizens and 0.75 per cent interest to its super senior citizens.

Indian Overseas Bank interest rates

These are the new FD rates of Indian Overseas Bank now. Indian Overseas Bank is giving 4 percent interest to customers on FD of 7 days to 14 days. At the same time, only 4 percent interest is available on FD of 15 days to 29 days. It is offering 4.25 percent interest on FD of 30 days to 45 days and 4.25 percent interest on FD of 46 days to 60 days.

Indian Overseas Bank is offering 4.25 percent interest on FD of 61 days to 90 days, 4.50 percent on FD of 91 days to 120 days and 4.50 percent on FD of 121 days to 179 days. Instead of 4.95 percent interest on FDs of 180 days to 269 days, 5.35 percent interest on FDs of 270 days to less than 1 year and 6.50 percent interest on FDs of 1 year to less than 2 years, the bank will now give 6.80 percent interest. The bank has revised the interest on FDs from 1 year to less than 2 years and 444 days.

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In this, like FD, money does not have to be deposited all at once. This is the safest option. Most people consider it auspicious to invest on Dhanteras. If you are also planning to make RD for Dhanteras or Diwali, then you can invest in RD of these banks. Let us know how much interest is being received on RD.

DCB Bank

DCB Bank is offering 7.6 percent interest on 5 year RD. The bank is offering up to 8 percent interest on RDs of less than Rs 10 lakh to Rs 2 crore.

Suryoday Small Finance Bank

Suryoday Small Finance Bank is offering 7.25 percent interest to customers on RD of 5 to 10 years. It is giving interest at the rate of 7.5 percent to senior citizens. The bank is offering 8.60 percent interest on RD of 27 to 36 months. At the same time, senior citizens are getting 9.1 percent interest.

Deutsche Bank

The bank is offering 8 percent interest on RD of 27 to 36 months. 7.25 percent interest is being given on 5 year RD.

Ujjivan Small Finance Bank

Investors can avail 7.2 per cent interest on RD for a tenure of 36 to 60 months. 6.5 percent interest is being given on FDs maturing in 63 to 120 months.

IndusInd Bank

The bank is offering 7 percent interest on recurring deposits of 61 months and above. Senior citizens are getting additional interest of 50 basis points i.e. 0.50 percent.

Axis Bank

Axis Bank is offering 7 percent interest on 5 year RD. Senior citizens will be given 0.75 percent interest on RD of more than Rs 5 crore.

HDFC bank

HDFC Bank is offering 7 percent interest on 5 year RD which will mature in 5 years. 7.50 percent interest will be given to senior citizens.

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PNB has increased the bank FD rates by half a percent. Those customers who have made FD of less than Rs 2 crore will get the benefit of this. The new rates of bank FD have come into effect from November 1.

How much interest is the common citizen getting?

Punjab National Bank customers are getting interest at the rate of 3.5 percent on FD of 7 to 45 days, 4.5 percent on FD of 46 to 179 days, 5.5 percent on FD of 180 days to 270 days.

Senior and Super Senior Citizens

PNB Senior Citizens are getting 50 basis points more interest. Apart from this, super senior citizens are getting 80 basis points more interest. 

For which period is the highest interest available?

The highest interest is being given by the bank on FD of 444 days. In this, interest of 7.25 percent is being given to ordinary citizens, 7.75 percent to senior investors and 8.05 percent to super-senior investors. Let us tell you, additional interest is being given by the bank to the customers between 60 years to less than 80 years. At the same time, the bank is giving 0.80 percent interest to very senior citizens.

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Now you can withdraw your deposited amount up to Rs 1 crore prematurely because the Reserve Bank of India (RBI) has increased the amount in FD. RBI has increased the minimum amount from Rs 15 lakh to Rs 1 crore.

The Reserve Bank of India (RBI) has changed the rules regarding premature withdrawal of money from bank FD. At present banks provide premature withdrawal service on FDs up to Rs 15 lakh. Now the Central Bank has increased this amount to Rs 1 crore with immediate effect. Till now banks had the option of premature withdrawal of money on TD or FD. In that too, withdrawal of Rs 15 lakh and less was allowed. This circular is applicable to all commercial and cooperative banks. Banks offer two types of FDs, callable and non-callable. Non-callable FD means that you cannot withdraw money before time i.e. before maturity. Can be extracted in callable.

Fixed Deposit is a saving scheme in which account holders can withdraw their money anytime. The account holder can prematurely withdraw some or the entire amount before maturity. Such FD is called callable FD in which you can withdraw money before time. However, banks charge a penalty for withdrawing the amount before maturity. However, callable FDs do not have any lock-in period.

Investors in non-callable FD cannot withdraw money before maturity. However, there are many rules in which you can withdraw money before time. You can withdraw money prematurely in case of bankruptcy, closure of business and death of the account holder. Non-callable FD gets higher interest than normal FD because the money is blocked in it.

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According to the bank’s website, the new rates have come into effect from October 27, 2023. Canara Bank is offering FD from 7 days to 10 years. After revision, Canara Bank is offering 4 percent to 7.25 percent interest on FD to the general public and 4 percent to 7.75 percent to senior citizens.

You will get benefit only on these FDs

Canara Bank is offering these new interest rates on new and renewable FDs of less than Rs 2 crore. If you close your FD prematurely, there will be a penalty of 1.00%. According to the bank’s website, the bank is giving extra interest of 0.60 percent to super senior citizens i.e. people aged 80 years and above. At the same time, it is giving 0.50 percent interest to senior citizens.

New rates of Canara Bank FD

Canara Bank is now offering 4% interest rate on EPDs maturing between 7 to 45 days and 5.25% interest rate on deposits maturing between 46 to 90 days. Canara Bank is offering 5.50 percent interest rate on deposits maturing in 91 to 179 days and 6.15 percent interest rate on deposits maturing in 180 to 269 days.

These are the revised rates of Canara Bank

Now 6.25 percent interest rate will be available on deposits maturing in 270 days to less than one year. Now 6.90 percent interest rate will be available on deposits maturing in 1 year. The bank is giving the highest interest on FD maturing in 444 days. The bank is giving 7.25 percent interest on FD of 444 days.

These are the revised interest rates

Canara Bank is offering interest rate of 6.85% on FDs maturing in a period of more than one year to less than two years. It now guarantees an interest rate of 6.85% on FDs of two years or more maturing in 3 years. Canara Bank is now offering 6.80 percent interest on deposits maturing in three years or more but less than five years. FDs maturing in five years or more will get 6.70 percent interest.

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If you are looking for an investment option where your money remains secure and you also get better profits, then FD has always been a good option for this. FD i.e. Fixed Deposit, you will get this option in all the banks. But if you want, this time you can try Post Office FD instead of bank.

Post Office FD is called Post Office Time Deposit. You get the option of FD for 1, 2, 3 and 5 years in the post office. If you deposit money in this for 10 years, you can more than double your amount. At present, interest is available at the rate of 7.5 percent on 5 year FD.

Know how to make double more money

At present, interest is available on post office FD at the rate of 7.5 percent. Suppose you deposit Rs 5 lakh in the post office, then at the rate of 7.5 percent you will get interest of Rs 2,24,974 lakh on it. In this way, in 5 years your amount will become Rs 7,24,974. Now if you deposit it again for 5 more years, then this amount will mature to Rs 10,51,175, which is more than double.

Interest on FD of one to five years

If fixed for 1 year – 6.9% If
fixed for 2 years – 7.0% If
fixed for 3 years – 7.0% If
fixed for 5 years – 7.5%

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After this change the interest rates will be reduced. The bank has informed its customers about this change through email. Currently, the bank is giving 7.20% and 7.25% interest to its general customers under this FD of 35 months and 55 months.

Information given through email

HDFC Bank is offering its general customers 3.50% on FD of 7 days to 45 days, 4.50% on FD of 46 days to 6 months, 5.75% on FD of 6 months to 9 months, 9 months to 1 day to less than 1 year. It is giving 6% interest on FD and 6.60% interest on FD of 1 year to less than 15 months.

7.25% interest is available here

On the other hand, the bank is offering 7.10% on FD of 15 months to 18 months, 7% on FD of 18 months to 2 years 11 months, 7.20% on FD of 2 years 11 months to 35 months and 35 months to 1 day to 4 years 7 months. Is giving 7% interest on FD. At the same time, the bank is offering 7.25% interest on FD of 4 years, 7 months to 55 days and 7% interest on FD of 4 years, 7 months, 1 day to 10 years.

Disclaimer: Only information about share performance is given here, it is not investment advice. Investing in stock market is subject to risk and please consult your advisor before investing.

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Let us tell you that the special FD scheme of the country’s largest public sector lender State Bank of India (SBI) is ending on September 30. This special FD scheme is ‘SBI WeCare’. Under this scheme, the bank gives 7.50 percent interest to its senior citizen customers.

Getting 7.50% interest

State Bank of India had launched this special scheme in the year 2020. Under this scheme, the bank gives 7.50% interest to its customers for a period of 5 years to 10 years. Let us tell you that under this scheme, the bank gives interest of additional 50 basis points from the regular rate to its senior citizen customers. In such a situation, this special scheme of SBI is one of the very good options for senior citizen customers.

Chance is till 30th September

On the other hand, State Bank of India offers interest of additional 50 basis points over the regular rate to its senior citizen customers. Let us tell you that the bank is giving 3.50% to 7.50% interest to its senior citizen customers on FD of 7 days to 10 years. If you are also thinking of getting better returns by investing in this cool scheme, then you have a chance till 30th September.

Disclaimer: Only information about share performance is given here, it is not investment advice. Investing in stock market is subject to risk and please consult your advisor before investing.

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Senior citizens also get the benefit of extra interest of 0.50 percent. FD is one of the safest investment options, so you can also invest money in it. Here we are telling you about the FD rates of big banks of the country.

ICICI Bank

This bank is offering interest between 3.00 percent to 7.10 percent on its FD schemes. Senior citizens are getting interest between 3.50 percent to 7.60 percent for FDs ranging from 7 days to 10 years. The interest rates for general customers on FD maturing in one year are 6.70 percent.

HDFC Bank

HDFC Bank is offering good interest rates on fixed deposits maturing in one year. General investors will get 6.60 percent interest rate on these deposits while senior citizens will get 7.10 percent interest rate. HDFC Bank is offering interest ranging from 3 percent to 7.25 percent on its FD.

SBI Bank

General customers get interest ranging from 3 percent to 7.1 percent on FD of State Bank of India (SBI), while senior citizens will get additional interest of 50 basis points i.e. 0.50 percent. It is giving 6.80 percent interest to general customers on one year FD.

Bank of Baroda

Bank of Baroda offers 4.5 percent interest on FDs with a tenure of 181 to 210 days. It is offering an interest rate of 6.75 percent on FDs maturing between one and two years. Senior citizens are being given 7.25 percent interest rate on one year FD.

Punjab National Bank (PNB)

PNB Bank is offering 3.50 percent and 7.25 percent interest on FD. It is giving 6.75 percent interest on FD maturing in one year. Senior citizens are being given an interest rate of 7.25 percent on one year plan.

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Explain that in RD you do not have to deposit the amount together like Fixed Deposit (FD). In this, you have to deposit a fixed amount in installments every month. Right now many banks are giving you up to 8% interest on RD. Let us know about those top 5 banks which are giving highest interest on RD to their customers.

Deutsche Bank

Deutsche Bank is offering 6% to 7.50% interest on RD of different tenures to its general customers. Whereas the bank is giving interest ranging from 6.50% to 7.75% on RD of different tenures to its senior citizen customers.

City Union Bank

City Union Bank is offering interest ranging from 6.70% to 7.10% for RD of different tenures to its general customers. At the same time, banks are giving interest ranging from 6.95% to 7.50% to their senior citizen customers for RD of different tenures.

DHDL Bank

DHFL Bank is offering 7.75% interest to its general customers for RD of different tenures. At the same time, banks are also giving 7.75 percent interest to their senior citizen customers for RD of different tenures.

Indian Overseas Bank

Indian Overseas Bank is offering interest ranging from 5.75% to 7.25% on RD of different tenures to its general customers. Whereas the bank is giving interest ranging from 6.25% to 7.75% to its senior citizen customers.

Bandhan Bank

Bandhan Bank is offering interest ranging from 6.50% to 7.50% to its general customers for RD of different tenures. At the same time, banks are giving 7% to 8% interest to their senior citizen customers for RD of different tenures.

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If you want to make a safe investment of your accumulated capital, then Fixed Deposit (FD) can prove to be a very good option for you. By investing in FD, you get guaranteed income after a fixed period. Many big banks of the country including State Bank of India (SBI) are giving very high interest on FDs to their customers. Let us know today about such banks which give interest of up to 8% on FDs of one year.

7.75% interest will be available here

DCB Bank is paying 7.25% interest on 1 year FD to its general customers while 7.75% interest to its senior citizen customers. On the other hand, Tamil Nadu Mercantile Bank gives 7.25% interest on 1-year FD to its general customers and 7.75% to its senior citizen customers. On the other hand, Canara Bank gives 7% interest to its general customers while 7.50% interest to its senior citizen customers.

SBI is giving so much interest

Apart from these banks, RBL Bank is offering 7% interest on 1-year FDs to its general customers and 7.50% to its senior citizen customers. On the other hand, Bank of India is giving 7% interest to its general customers while 7.50% interest to its senior citizen customers. On the other hand, State Bank of India is paying 6.80% interest to its general customers while 7.30% interest to its senior citizen customers.

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Which form to fill

First of all, let us tell you that people below 60 years of age have to fill 15G form, which has a condition that no income tax should be made on you. Second, your total income should be less than 2.5 lakh.

How senior citizens can save tax

Above 60 years i.e. for senior citizens, 15H form will have to be filled. The condition of 15H is that no tax should be made on your income. There is no condition of basic exemption limit in this. If the interest is going above the basic exemption limit, but you will not be taxed if you do not have any other income. In this condition, you can go to the bank and fill 15H form, in which case the bank will not deduct your TDS and all your interest will come to your account.

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If you want to invest in Fixed Deposit ie FD, then this news can be useful for you. We are telling you about two such banks where you can get a strong return on FD. We are talking about Unity Small Finance Bank and Suryoday Small Finance Bank.

Customers can now avail over 9 per cent interest on their FDs in these banks, which are offered by various other investment schemes like Public Provident Fund (PPF), Employees’ Provident Fund (EPF), and Sukanya Samriddhi Yojana (SSY). higher than the applicable rates. Let’s know in detail…

1. Unity Small Finance Bank: The new FD interest rates of Unity Small Finance Bank are between 4.5 percent to 9 percent for regular customers. Senior citizens of Unity Small Finance Bank can avail an interest rate of 9.5 per cent annually on FDs invested for a tenure of 1001 days. The highest interest rate of 9 per cent is offered for a tenure of 1001 days. Explain that these rates are applicable from June 14, 2023.

2. Suryoday Small Finance Bank: Suryoday Small Finance Bank offers FD interest rates between 4 per cent and 9.1 per cent to general customers on deposits maturing between seven days and ten years. Suryoday Small Finance Bank interest rate for senior citizens ranges from 4.5 percent to 9.6 percent for the same tenure.

The bank offers the highest interest rate of 9.1 per cent for a tenure of five years. Explain that these rates are applicable from 5 July 2023. An official statement by Suryoday Small Finance Bank said that regular customers can now avail 9.10 per cent interest rate on 5-year deposits, while senior citizens can avail a higher rate of 9.60 per cent.

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Recently, 2 small finance banks have increased the interest rates on FDs. Unity Small Finance Bank is giving up to 9 percent interest on FDs to its customers and Suryoday Small Finance Bank up to 9.1 percent.

Interest rates of Suryoday Small Finance Bank

Suryoday Small Finance Bank will now provide interest rate between 4 percent to 9.1 percent on fixed deposits maturing in 7 days to 10 years to general customers. Senior citizens will get an interest rate of 4.5 per cent to 9.6 per cent on the amount maturing in 7 days to 10 years.

The highest interest rate of 9.1 per cent is offered for a tenure of 5 years. These rates are effective from July 5, 2023. According to Suryoday Small Finance Bank officials, the best part is that regular customers can now get 9.10 per cent interest rate on 5-year deposits, while senior citizens can get 9.60 per cent interest rate.

Interest rates of Unity Small Finance Bank

Unity Small Finance Bank is offering interest rates ranging from 4.5 percent to 9 percent to general customers. General customers are offered the highest interest rate of 9% for a period of 1001 days. The bank is offering 9.5 percent interest rate on FD of 1001 days to senior citizens. Senior citizens are being offered an interest rate of 4.5 per cent to 9.5 per cent on FDs maturing in 7 days to 10 years. These rates are effective from June 14, 2023.

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Changes are made in the interest rate by the banks from time to time. Interest rates are increased by the banks from time to time. With the change in the repo rate by the RBI, the interest rates are changed by the banks. According to the information received from the Axis Bank website, the bank has changed the interest rates on deposits of at least Rs.

Changes are made in the interest rate by the banks from time to time. Interest rates are increased by the banks from time to time. With the change in the repo rate by the RBI, the interest rates are changed by the banks. According to the information received from the Axis Bank website, the bank has changed the interest rates on deposits of at least Rs.

Getting this much interest rate

The bank is offering the benefit of 3.5 per cent interest rate on its tenure ranging from 7 days to 45 days. Is giving the benefit of 4% interest rate on tenure ranging from 46 days to 60 days. Customers are getting the benefit of 4.5 per cent interest rate on tenure ranging from 61 to 3 months. At the same time, it is giving the benefit of 4.75 percent interest rate to the customers from 3 months to 6 months.

From 6 months to 9 months, 5.75% and from 9 months to less than 1 year is giving the benefit of 6% interest rate to the customers. The benefit of 7.20 percent interest rate is available on the tenure of 16 months to less than 17 months.

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In the recent past , the interest paid on Fixed Deposit (FD) has been increased by many banks for their customers. Now two private sector small finance banks have also increased the interest rates on FDs for their customers. Unity Small Finance Bank and Sarvodaya Small Finance Bank are now offering 9% returns on FDs to their customers. Please tell that this interest rate is more than the interest rate available in FDs of many banks and even in many government schemes.

Senior citizens will get more benefits

Unity Small Finance Bank is offering interest rates between 4.5% to 9% to its general customers. At the same time, this bank is offering returns at the rate of 9.5 percent to the customers falling in the category of senior citizens. Senior citizens are being offered an interest rate of 4.5% to 9.5% on FDs maturing in seven days to ten years. The highest interest rate of 9% is offered for a tenure of 1001 days.

Suryoday Small Finance Bank FD Interest Rate

Suryoday Small Finance Bank will now offer interest rates ranging from 4% to 9.1% on FGs maturing in seven days to 10 years to general customers. Senior citizens will get an interest rate of 4.5% to 9.6% on the amount maturing in seven days to ten years. The highest interest rate offered is 9.1% for a tenure of five years.

These rates are applicable from 5 July 2023. An official at Suryoday Small Finance Bank said, “The best part is that regular customers can now get 9.10% interest rate on 5-year deposits, while senior citizens can get 9.60% interest rate.

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Equitas Small Finance Bank FD interest rate Equitas Small

Finance Bank FD interest rate offers 8 percent interest rate on FDs maturing between 889 to 1095 days (3 years). The bank gives an interest rate of 8.5 per cent to senior citizens on FDs maturing in the same tenure.

Fincare Small Finance Bank FD interest rate

Fincare Small Finance Bank FD interest rate is offering an interest rate of 8 percent for FDs maturing between 1001 to 1095 days (3 years). Whereas, senior citizens have been offered an interest rate of 8.6 percent on FDs of the same duration.

Utkarsh Small Finance Bank FD Interest Rate

Utkarsh Small Finance Bank is offering an interest rate of 8.25 percent on Fixed Deposits maturing between 1000 to 1500 days. At the same time, it has been announced to give interest rate up to 8.85 percent on Fixed Deposit of the same duration for senior citizens.

Suryoday Small Finance Bank FD interest rate

Suryoday Small Finance Bank is offering investors to the general public an interest rate of 8.6 percent for FDs maturing between two to three years. At the same time, for senior citizens, the FD interest rate for the same period is being given up to 9.1 percent.

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Government employees in Chhattisgarh will get a 5 percent increase in dearness allowance, while for Rajasthan government employees, DA has been increased from 396 percent to 412 percent under the 5th Pay Commission.

Ahead of the assembly elections in Chhattisgarh later this year, the Congress government on Thursday increased the DA for state employees by 5 per cent. DA has now become 38 percent in the state. Due to this, the state government will get an additional financial burden of one thousand crore rupees every year. This decision of the government will benefit about 3.80 lakh employees of the state.

Senior officials of Chhattisgarh told that the state government had increased the DA of government employees by 5 percent in October last year, after which they were getting 33 percent DA.

The Chhattisgarh government also reduced the eligibility period for pension

Officials said that while giving another gift to the government employees, the Chhattisgarh government has reduced the eligibility period for full pension from 33 years to 30 years. Also, the period of service for voluntary retirement has been reduced from 20 years to 17 years.

Gehlot government increased dearness allowance of employees and pensioners

Employees and pensioners working under the Fifth Pay Commission in Rajasthan will get increased DA from January 2023. According to an official statement, Chief Minister Ashok Gehlot has approved the proposal in this regard. According to the proposal, an increase in the rate of dearness allowance has been approved for state employees and pensioners working under the Fifth Pay Commission and Rajasthan Civil Services (Revised Pay) Rules, 1998. It was said in the statement that from January 1, 2023, the rate of dearness allowance to such state employees and pensioners will increase from 396 percent to 412 percent.

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Yes Bank is now offering an interest rate of 3.25% on FDs maturing in 7 to 14 days and 3.70% on FDs maturing in 15 to 45 days. The interest rates offered by Yes Bank are 4.10% for FDs held for 46 days to 90 days and 4.75% for FDs held for 91 days to 180 days.

Yes Bank hikes FD rates on select tenors

Yes Bank has increased the interest rates of FDs maturing between 181 to 271 days and 272 to 1 year by 10 bps. They will now get interest at the rate of 6.1%, while FDs maturing between 272 to 1 year will now get interest at the rate of 6.35%. At the same time, the bank will pay 7.50% interest rate on FDs with maturity between 1 year and 18 months and 7.75% interest on maturity of 18 months to 36 months. On FDs maturing in 36 and 120 months, the bank is offering an interest rate of 7%.

Latest Yes Bank FD Rates

1. 3.25% interest will be available on FDs of 7 days to 14 days.
2. 3.70% interest will be available on FDs of 15 days to 45 days.
3. 4.10% interest will be available on FD of 46 days to 90 days.
4. 91 days to 120 days FD will get 4.75% interest.
5. 5.00% interest will be available on FDs of 121 days to 180 days.
6. 6.10% interest will be available on FDs of 181 days to 271 days.
7. 6.35% interest will be available on FD of 272 days to 1 year.
8. 7.50% interest will be available on FD of 1 year to 18 months.
9. 7.75% interest will be available on FD of 18 months 36 months.
10. 7.25% interest will be available on FD of 36 months to 60 months.
11. 7.00% interest will be available on FD of 60 months to 120 months.

Senior citizens will get 0.50% additional interest

Senior citizens will get an additional interest rate of 0.50% over and above the regular rates. Yes Bank is now offering interest rates on FDs maturing in 7 days to 10 years, which ranges from 3.75% to 8.25% for senior citizens.

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After the latest changes, now this private sector bank is offering its customers an interest rate of 8 per cent on FDs to general customers and 8.50 per cent to customers falling in the category of senior citizens. This bank is now offering an interest rate of 3.75% on FDs maturing in 7 days to 45 days.

What is the interest rate on different periods

DCB Bank is offering an interest rate of 4.00% on tenors between 46 days to 90 days. At the same time, this bank is offering an interest rate of 4.75% on FDs maturing in 91 days to less than 6 months and 6.25% on FDs maturing in less than 6 months to 12 months. At the same time, this bank is offering an interest rate of 7.25% on FDs with maturity between 12 and 15 months. While the bank is offering an interest of 7.75 per cent on deposits of less than 18 months to 700 days.

More than 8 percent interest is being received on this period

DCB Bank is offering an interest rate of 8% for tenures between 700 days to 36 months. At the same time, for a period of more than 36 months to less than 120 months, this bank offers an interest rate of 7.75 percent. At the same time, this bank is offering higher interest rate to the customers falling in the category of senior citizens as compared to the common citizens.

What is the interest rate for senior citizens

DCB Bank is offering interest rates ranging from 4.25 per cent to 8.50 per cent on FDs for senior citizens with tenures ranging from 7 days to 120 months. Bank 2.00% interest rate on savings account with an amount of up to 1 lakh, 3.75% interest rate on savings account with an amount of 1 lakh to 2 lakh, savings account with an amount of 2 lakh to 5 lakh But is offering an interest rate of 5.25 per cent and 6.25 per cent on a savings account with an amount of 5 lakh to 10 lakh.

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There has been a sharp increase in the interest rates of Fixed Deposits (FD) in the last one year. Many small finance banks are offering more than 9% interest on fixed deposits. One such bank is Unity Small Finance Bank. The bank has revised its interest rates on fixed deposits of less than Rs 2 crore. The new interest rates of Unity Small Finance Bank will be effective from June 14, 2023.

Up to 9.5% interest on 1001 days Fixed Deposit

Unity Small Finance Bank is offering interest ranging from 4.50 to 9% on fixed deposits with maturities ranging from 7 days to 10 years. Unity Small Finance Bank is giving 9% interest to general customers on 1001 days fixed deposits. At the same time, senior citizens are being given an interest rate of 9.5% on FDs of this duration.

FD Rates of Unity Small Finance Bank

Unity Small Finance Bank is paying 4.50% interest on Fixed Deposits of 4 days to 14 days. At the same time, the bank is giving 4.75% interest on FDs ranging from 15 days to 45 days. Unity Small Finance Bank is paying 5.25% interest on deposits ranging from 46 days to 60 days. At the same time, the bank is paying 5.50% interest on FDs ranging from 61 days to 90 days. Interest is being received at 5.75% on FDs ranging from 91 days to 6 months and 8.75% on FDs ranging from 6 months to 201 days.

8.75% interest on 501 day Fixed Deposit

The bank is paying 6.75% interest on FDs of 202 days to 364 days. At the same time, the bank is paying 7.35% interest on FDs ranging from 1 year to 500 days. Unity Small Finance Bank is paying 8.75% interest on 501 days fixed deposit. While the bank is paying 7.35% interest on FDs ranging from 502 days to 18 months. The bank is offering an interest of 7.40% on fixed deposits ranging from 18 months to 1000 days.

Disclaimer: Here only the information about the performance of the stock is given, it is not an investment advice. Investment in share market is subject to risk and you should consult your advisor before investing.

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After the recent hike in interest rates, now fixed deposits have become an inflation-beating option after a long time. A good way to build a strong FD portfolio is to include short and long term FDs in your portfolio instead of investing all your money in a single scheme. Invest a portion in a 5-year FD, where tax benefits are available under section 80C of the Income Tax Act.

While keeping in mind the liquidity, invest the remaining money in different short term FDs. If you want to do this, then you can go for the time deposit scheme of the post office, where 4 options of different tenures will be merged together.

1 year to 5 years option

The time deposit scheme of the post office is a type of fixed deposit. There is an option to do FD of 1 year, 2 years, 3 years and 5 years. Up to 7.5 percent annual interest is being received in these different tenure schemes. Investors who do not want to take market risk at all and are looking for stable returns while keeping their deposits safe, then the post office time deposit scheme is a better option.

1 year TD: 6.8% interest per annum

Deposit: Rs 10 lakh
Tenure: 1 year
Interest: 6.8% per annum
Maturity Amount: Rs 10,69,754
Interest lost: Rs 69,754

2 year TD: 6.9% interest per annum

Deposit: Rs 10 lakh
Tenure: 2 years
Interest: 6.9% per annum
Maturity Amount: Rs 11,46,625
Interest lost: Rs 1,46,625

3 years TD: 7% interest per annum

Deposit: Rs 10 lakh
Tenure: 3 years
Interest: 7% per annum
Maturity Amount: Rs 12,31,439
Interest lost: Rs 2,31,439

5 year TD: 7.5% interest per annum

Deposit: Rs 10 lakh
Tenure: 5 years
Interest: 7.5% per annum
Maturity Amount: Rs 4,49,948
Interest lost: Rs 3,83,000

Features and benefits of the scheme

• It has the facility to open single and joint accounts. There can be 3 adults in a joint account.
• The special thing about this scheme is that an investor can open multiple accounts.
• On depositing at least Rs 1000, an account can be opened in any post office. There is no limit on the maximum deposit.
• In this scheme, the benefit of tax exemption is available on the investment made for 5 years.
• Keeping the account as security, you can also take a loan instead.
• There is no risk due to being a government deposit.
• Account can be transferred from one post office to another post office.

Safer than bank FD

It is a safer investment than bank FDs, as it provides government guarantee on the investor’s capital and the interest earned. Whereas, in bank FD, you get protection only up to a maximum amount of Rs 5 lakh on capital and interest as per the rules of Deposit Insurance and Credit Guarantee Corporation (DICGC).

Facilities available at Post Office TD

• Nomination facility at Post Office TD
• Facility to transfer account from one post office to another
• Facility to open multiple TDs in same post office
• Facility to convert single account to joint or joint account to single
• Account extension facility
• Online account opening facility through intra operable netbanking / mobile banking

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Now a bank has increased the interest rates on FD. Actually, Fincare Small Finance Bank has changed its FD interest rates for senior citizens and others. Recently, the bank said in a statement that common customers can earn up to 8.51 per cent interest on FDs and senior citizens can earn up to 9.11 per cent, but for this the minimum deposit should be Rs 5000. The revised rates have come into effect from May 25, 2023.

Up to 9.11 percent interest to senior citizens

Fincare Bank is offering 9.11 percent interest on 1000 days FD to senior citizens. This is the highest interest rate offered by this bank over different tenures. For common citizens, the interest rate on FD of 1000 days is 8.51 percent.

FD rates of Fincare Small Finance Bank

The bank is offering 8.6 percent interest to senior citizens and 8 percent interest to others on FDs ranging from 59 days, 1 day to 66 months. On FDs ranging from 66 months 1 day to 84 months, senior citizens will get a return of 7.6 per cent and others up to 7 per cent. The bank is also giving 8.85 per cent interest to senior citizens on deposits of 36 months 1 day to 42 months, while ordinary citizens will get 8.25 per cent interest on FDs of the same duration.

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. It is just like the fixed deposit of the bank. However, money can be deposited in this only for four different tenures. POTD ie Post Office Time Deposit can be opened for 1 year, 2 years, 3 years and 5 years. Interest is calculated on a quarterly basis, but paid annually.

Interest is available up to 7.5 percent

According to the information available on India Post’s website, there has been a change in the interest rate from April 1. At present, 6.8 per cent interest is available on 1-year time deposit, 6.9 per cent on 2-year period, 7 per cent on 3-year period and 7.5 per cent on 5-year period. A minimum investment of Rs 1000 can be made. There is no maximum investment limit.

2.25 lakh interest on 5 lakh

Tax deduction is also available under section 80C of the Income Tax Act on time deposits of 5 years. According to the Post Office Calculator, if an investor deposits Rs 5 lakh in the Time Deposit Scheme for 5 years, then he will get a total of Rs 2 lakh 24 thousand 974 as interest. The annual average return called CAGR is 7.71 percent. After completion of five years, you will also get back the principal amount of Rs 5 lakh.

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Why invest in Post Office Time Deposit?

1>> Post office time deposit account is similar to bank FD. In this, the revision of the interest rate is done on a quarterly basis. It can be opened for 1, 2, 3 and 5 years.

2>> It offers minimum interest of 6.8 per cent and maximum interest of 7.5 per cent. This is higher than the average returns of banks.

3>> Revision of Interest Paytm is done on quarterly basis. The rate of bank FD depends on the repo rate of the Reserve Bank to a great extent. Every two months, the Reserve Bank takes a decision on the repo rate.

4>> Pre-mature closure of post office time deposit account can also be done.

5>> Post office time deposit account can also be extended within a fixed period. Apart from this, emergency fund can also be arranged by pledging it at the time of need.

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For example, PNB allows premature withdrawal without penalty to customers under its PNB Sugam Fixed Deposit Scheme. Meanwhile, PNB has made a change in this popular FD scheme. According to the decision of Punjab National Bank (PNB), under the PNB Sugam Fixed Deposit Scheme, now customers will be able to invest up to a maximum of Rs 10 lakh only.

What is Sugam Fixed Deposit Scheme?

The bank said, “Account holders of existing Sugam Fixed Deposits who have mandated for auto-renewal of their FDs on maturity, will get the same interest rate as on FDs.” The bank further said, “However, due to the amendment in the scheme, the amount which is more than Rs 10 lakh at the time of maturity, will be renewed under a separate fixed deposit scheme of the bank.”

Who can invest?

• Individual (Singly or Jointly) or with Joint Account

• Minor who is 10 years of age or more

• Proprietorship/Partnership Firm, Commercial Organization, Company/Body Corporate

• Hindu Undivided Families (HUFs)

• Association, Club, Society, Trust or Religious/Charitable or Educational Institution

• municipality or panchayat, government or semi government body

• Illiterate and blind person can also open account

The minimum deposit amount for PNB Easy Deposit is Rs.10,000 and in multiples of Rs.1 thereafter.

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Tenure of PNB Easy Term Deposit

The tenure of an easy term deposit can be anything from 46 days to 120 months, such as 13 months, 14 months, 37 months and 16 days etc. for deposits up to Rs.10 crores.

Premature withdrawal of deposit

The biggest advantage of this scheme is that the depositor has the option of withdrawing any amount before maturity with a minimum withdrawal of Rs.1000. Whenever he needs money, he can withdraw the required amount without breaking the entire deposit amount. By doing this, the principal amount of the term deposit i.e. the value of the original amount will be reduced. No penalty will be levied on partial withdrawal of the deposit.

According to the PNB website, “If the amount bracket is changed due to part withdrawal of the deposit, the rate applicable for the new amount bracket of the deposit will be applicable from the date of such withdrawal.” The depositor can choose to receive interest on a monthly, quarterly or annual basis. If the balance period of the deposit with the bank is 6 months and above, interest will be paid compounded quarterly.

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With interest rates rising, fixed deposits have become a good investment option. Many banks are paying more than 9% interest on Fixed Deposit (FD). One such bank is Suryoday Small Finance Bank. Suryoday Small Finance Bank has revised the interest rates on its Fixed Deposits. The bank has increased the interest rate of fixed deposits (FD) from 1 to 5 years by 49 to 160 basis points (0.49% to 1.60%). The new interest rates of Suryoday Small Finance Bank are effective from 5 May 2023.

9.6% interest is being received on FD for this period

Suryoday Small Finance Bank is giving 9.10% interest to general customers on 5-year Fixed Deposit (FD). At the same time, the bank is giving 9.60% interest to senior citizens on FDs of the same duration. Suryoday Small Finance Bank is offering 4% to 9.10% interest to its general customers on Fixed Deposits ranging from 7 days to 10 years.

At the same time, the bank is giving 4.50% to 9.60% interest on FDs of this duration to senior citizens. Suryoday Small Finance Bank is paying 7.25% interest to general customers on fixed deposits above 5 years and up to 10 years. At the same time, 7.75% interest is being given to senior citizens on FDs of this period.

Bank is giving up to 7% interest on savings account

Suryoday Small Finance Bank is offering up to 7% interest on savings account customers with a balance above Rs 5 lakh and up to Rs 2 crore. Suryoday Small Finance Bank is protected by Deposit Insurance and Credit Guarantee Corporation (DICGC). That is, your investment up to Rs 5 lakh is covered under insurance.

Suryoday Small Finance Bank is paying 3.75% interest on deposits up to Rs 1 lakh in savings account. At the same time, interest of 6.75% is being received on deposits above Rs 1 lakh and up to Rs 5 lakh. The bank is paying 7% interest on savings account deposits above Rs 50 lakh and up to Rs 2 crore.

Disclaimer: Here only the information about the performance of the stock is given, it is not an investment advice. Investment in share market is subject to risk and you should consult your advisor before investing.

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SBM Bank (India) started operations on 1 December 2018 after obtaining a banking license from RBI. The bank is offering a host of services to customers including small businesses, MSMEs, NRIs. SBM Bank has a network of 11 branches across India. This bank is a subsidiary of SBM Holdings, which is based in Mauritius. SBM Group is a financial group that provides services like FD, loan for carbor and card.

SBM Bank is offering different types of FDs to the customers. The bank is offering 4.25% interest to customers on FDs maturing in 7 to 90 days. The interest on FDs maturing in 91-120 days is 4.8%. The bank is paying 5% interest on FDs of 121-180 days. The interest on FDs of 181 days to 1 year is around 6.55%. Interest is being received at the rate of 7.05% and 6.50% on FDs maturing in 1 year to 389 days and FDs maturing in 390 days.

The bank is now offering 7.05% interest on FDs maturing in 391 days to 18 months. The bank is offering an interest of 7.3% on deposits maturing in 18 months to 3 years and 2 days. SBM Bank is offering interest at the rate of 7.4% on FDs of 3 years and 2 days. Offering an interest rate of 8.35% on FDs of 3 years and 2 days to 5 years. Interest will be given at the rate of 7.75% on FDs maturing in 5 years. Interest will be available at the rate of 7.4% on FDs of 5 to 10 years. The bank is offering an additional interest of 0.50% to senior citizens.

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While some investments are risky, some investments are quite safe as well. Many people give more importance to safe investment and invest money in FD. Fixed Deposit (FD) is considered to be one of the most common financial instruments to invest your hard earned money. Bank FDs are considered to be the most preferred investment option as it is considered safer than investing in equities like stocks, SIPs or mutual funds (MFs).

At the same time, small finance banks offer higher interest rates on FDs as compared to commercial banks. In such a situation, today we are going to talk about those banks which provide 9% interest on FD.

Unity Small Finance Bank Latest FD Interest Rates

It offers interest rates between 4.5% to 9% for regular customers. It currently offers an interest rate of 9.5% per annum to senior citizens. Retail investors get 9% on FD with conditions. These rates are effective from 2 May 2023.

Unity Small Finance Bank Latest FD Interest Rates for Individuals

– 6 Months to 201 Days: 8.75%
– 501 Days: 8.75%
– 1001 Days: 9.00%

Unity Small Finance Bank Latest FD Interest Rates for Senior Citizens

– 6 Months to 201 Days: 9.25%
– 501 Days: 9.25%
– 1001 Days: 9.50%

Utkarsh Small Finance Bank Latest FD Interest Rates

Deposits maturing in 700 days in Utkarsh Small Finance Bank will now earn a maximum interest rate of 8.25% for general public and 9% for senior citizens. According to the official website of the bank, the new FD rates are effective from 27 February 2023. The bank offers FDs to senior citizens with interest rates ranging from 4.75% to 9%.

Utkarsh Small Finance Bank Latest FD Interest Rates for Citizens

– 700 days 8.25%

Utkarsh Small Finance Bank Latest FD Interest Rates for Senior Citizens

– 700 Days 9.00%

Fincare Small Finance Bank Latest FD Interest Rates

Fincare Small Finance Bank now offers interest rates on FDs ranging between 3% to 8.4% for general citizens and 3.60% to 9.01% for senior citizens. The highest interest rate of 9.01% is offered for a tenure of 1000 days. These rates are applicable from March 24, 2023.

Fincare Small Finance Bank Latest FD Interest Rates for Citizens

– 1000 days – 8.4%

Fincare Small Finance Bank Latest FD Interest Rates for Senior Citizens

– 1000 days 9.01%

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These types of deposits also mature on a fixed date. Banks offer RD for a period of one to 10 years. It allows investors to invest a fixed amount every month and build a corpus for short term needs. It works like a Systematic Investment Plan (SIP) of a mutual fund. Investing in RD brings discipline.

However, for this it is also necessary that you have the required amount of money to invest every month. Conservative investors who have a source of regular income can consider RD. After 6 consecutive rate hikes by the Reserve Bank of India (RBI) in FY23 starting May, many banks have increased the interest rates on RDs for 5 years tenure.

Let us know about some such banks which are giving better returns on RD of 5 years.

IndusInd Bank

IndusInd Bank gives 7.25 per cent interest on RD for a tenure of five years. If you invest Rs 5,000 every month for five years, you will get Rs 3.62 lakh at the end of the tenure.

AU Small Finance Bank and Ujjivan Small Finance Bank

AU Small Finance Bank and Ujjivan Small Finance Bank are paying 7.20 per cent interest on RD for a period of five years. If you invest Rs 5,000 every month, you will get Rs 3.62 lakh in tenure.

DCB Bank

DCB Bank gives 7.60 per cent interest on RD for a period of five years. Among private banks, this bank offers the best interest rates. If you invest Rs 5,000 every month for five years, you will get Rs 3.66 lakh when the amount matures after 5 years.

Suryoday Small Finance Bank

Suryoday Small Finance Bank is paying 7.5 per cent interest for a tenure of five years. Suryodaya is offering the best best interest rates in Small Finance Bank. If you invest Rs 5,000 every month for five years, you will get Rs 3.65 lakh at the end of the tenure (5 years).

Big private banks are paying so much interest

Major private banks, including Axis Bank, HDFC Bank and ICICI Bank, are offering 7 per cent interest on RDs for a period of five years. Other small private banks, including IDFC First Bank, RBL Bank and Yes Bank, are offering 7% interest on RDs with a tenure of 5 years. If you invest Rs 5,000 every month, you will get Rs 3.60 lakh at the end of the tenure.

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In such a case, when money is required before maturity, the bank or financial institution gives the facility to the customer to withdraw the deposited amount by levying a nominal penalty. Some banks are also providing loan facility against fixed deposit amount. Along with these features, the attractive interest rate has encouraged investors to invest in FDs.

In fixed deposits, banks offer different interest rates to general citizens and senior citizens. Here is a list of 5 banks offering the highest interest rate on 2-year FDs, where you can invest.

Bandhan Bank

Bandhan Bank offers interest rate between 3% to 8% to common citizens for tenures ranging from 7 days to 10 years. The highest interest rate of 8% is offered for a tenure of 1 year 7 months and 20 days.

IDFC First Bank

IDFC First Bank is offering interest rates ranging from 3.50% to 7.75% to the general public for tenures ranging from 7 days to 10 years. The bank is offering 7.75% interest rate on 18 months 1 day to 3 years tenure, while 367 days to less than 18 months (367 days to 548 days) 7.25% interest rate is offered on FD investment.

IndusInd Bank

IndusInd Bank offers interest rates ranging from 3.50% to 7.75% to the general public for tenures ranging from 7 days to 10 years. The bank offers the highest interest rate of 7.75% on tenure of 1 year 6 months to 2 years 9 months.

Yes bank

Yes Bank is offering interest rates ranging from 3.25% to 7.50% to the general public for tenures ranging from 7 days to 10 years. The bank has announced to give the highest interest rate of 7.50% for a period of 15 months to less than 35 months.

RBL Bank

RBL Bank has announced to give interest rate between 3.50% to 7.80% to the general public for a period ranging from 7 days to 10 years. RBL Bank offers the highest interest rate of 7.80% on FD investments with a tenure of 453 to 459 days (15 months).

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These days investing in Fixed Deposit (FD) is the best option. Firstly, the investment made in FD is safer than the rest of the options, while now banks are also giving tremendous returns on it. Now take this 444-day FD of a government bank, it is getting more than 7.5 percent interest.

We are talking about IDBI Bank, which has changed the FD interest rates for less than Rs 2 crore. The new interest rates have also come into effect from 12 April 2023. The bank has changed the FD interest rates from 7 days to 10 years.

7.65 percent interest on 444 days FD

IDBI Bank is giving the highest interest on FD of 444 days. Where ordinary citizens are getting 7.15 percent interest on 444-day FD. Whereas for senior citizens it is 7.65 percent. Whereas, except for the 444-day scheme, the interest rate on FDs of 1 year to 2 years is 6.75 percent for general people and 7.25 percent for senior citizens.

Bank’s FD Interest Rates

Rest of the FD interest rates of IDBI Bank are as follows.

1. 07 to 14 days: 3% for general customers, 3.5% for senior citizens
2. 15 to 30 days: 3% for general customers, 3.5% for senior citizens
3. 31 to 45 days: 3.35% for general customers, 3.85% for senior citizens
4. 40 to 60 days: 4.25% for general customers, 4.75% for senior citizens
5. 61 to 90 days: 4.25 per cent for general customers, 4.75 per cent for senior citizens
6. 91 days to 6 months: 4.75% for general customers, 5.25% for senior citizens
7. 6 months 1 day to 270 days: 5.5% for general customers, 6% for senior citizens
8. 271 days to 1 year: 5.5% for general customers, 6% for senior citizens
9. 1 year: 6.75 per cent for general customers, 7.25 per cent for senior citizens
10. More than 1 year Less than 2 years: 6.75 per cent for general customers, 7.25 per cent for senior citizens
11. 444 days: 7.15% for general customers, 7.65% for senior citizens

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At the same time, 4.45% to 6.70% interest is being given to senior citizens. Jana Small Finance Bank is giving 8.15% interest to general customers on 500 days FD. At the same time, 8.85% interest is being given to senior citizens on 500 days fixed deposit. The new rates for fixed deposits of Jana Small Finance Bank are effective from 10 April 2023.

Fixed Deposit Rates of Jana Small Finance Bank

Jana Small Finance Bank is paying 3.75% interest to general customers and 4.45% to senior citizens on fixed deposits of 7 days to 14 days. At the same time, on fixed deposits of 15 days to 60 days, the bank is giving 4.25% interest to general customers and 4.95% to senior citizens.

The bank is paying 5% interest to general customers and 5.70% to senior citizens on fixed deposits of 61 days to 90 days. At the same time, Jana Small Finance Bank is giving 6.25% interest to general customers and 6.95% to senior citizens on fixed deposits of 91 days to 180 days.

8.05% interest on FD from 2 years to 3 years

Jana Small Finance Bank is paying 7% interest to general customers and 7.70% to senior citizens on fixed deposits ranging from 181 days to 364 days. At the same time, on fixed deposits ranging from 365 days to 2 years, the bank is giving 7.25% interest to general customers and 7.95% to senior citizens.

Jana Small Finance Bank is offering a standard rate of 7.35% on FDs ranging from 2 years to 3 years. At the same time, senior citizens are getting 8.05% interest on fixed deposits of this period. On fixed deposits ranging from 3 years to 5 years, the bank is giving an interest rate of 7.25% to general customers and 7.95% to senior citizens. At the same time, Jana Small Finance Bank is paying 6% interest to general customers and 6.70% to senior citizens on fixed deposits ranging from 5 years to 10 years.

Disclaimer: Here only the information about the performance of the stock is given, it is not an investment advice. Investment in share market is subject to risk and you should consult your advisor before investing.

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The bank is offering FDs ranging from 7 days to 10 years to the customers. The bank is paying interest ranging from 5.50 per cent to 7 per cent on these FDs. The bank is offering a maximum interest of 7.25 per cent on bulk FDs.

Axis Bank increased interest on these FDs

Axis Bank Rs 2 Cr to Rs 5 Cr, Rs 10 Cr to Rs 24.75 Cr, Rs 24.75 Cr to Rs 25 Cr, Rs 25 Cr to Rs 50 Cr, Rs 50 Cr to Rs 100 Cr and above Rs 100 Cr Interest on FD has been revised. These new rates have come into effect from yesterday, April 10.

Interest rates on FDs between Rs 2 crore to Rs 5 crore

7 days to 14 days: 5.50 percent

15 days to 29 days: 5.50 percent

30 days to 45 days: 5.55 percent

46 days to 60 days: 5.80%

61 days to less than 3 months: 6.25 percent

3 months to less than 4 months: 6.50 percent

4 months to less than 5 months: 6.50 percent

5 months to less than 6 months: 6.50 percent

6 months to less than 7 months: 6.65 percent

7 months to less than 8 months: 6.65 percent

8 months to less than 9 months: 6.65 percent

9 months to less than 10 months: 6.75 percent

10 months to less than 11 months: 6.75 percent

11 months to less than 11 months 25 days: 6.75 percent

11 months 25 days to less than 1 year: 6.75 percent

1 year to less than 1 year 5 days: 7.25 percent

1 year 5 days to less than 1 year 11 days: 7.25 percent

1 year 11 days to less than 1 year 25 days: 7.25 percent

1 year 25 days to less than 13 months: 7.25 percent

13 months to less than 14 months: 7.25 percent

14 months to less than 15 months: 7.25 percent

15 months to less than 16 months: 7.15 percent

16 months to less than 17 months: 7.15 percent

17 months to less than 18 months: 7.15 percent

18 months to less than 2 years: 7.15 percent

2 years to less than 30 months: 7 percent

30 months to less than 3 years: 7 percent

3 years to less than 5 years: 7 percent

5 years to 10 years: 7 percent

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The annual interest rate on FDs of 2 years to less than 3 years will be 7 percent. The interest rate on FDs of 3 years to 4 years is 6.5 percent. It is getting 6.25 percent interest on FDs between 4 years and 5 years. Not only this, Indian Overseas Bank (IOBs) has also increased the interest rates on Fixed Deposit.

Interest rates are applicable from today

These new rates of Kotak Mahindra Bank have come into effect from today, April 10, 2023. The bank is now paying 7.20 per cent interest on FDs ranging from 390 days to less than two years. 6.20 percent interest is being received on FDs of more than 5 years. Along with this, senior citizens are getting 0.50 percent more interest. Here are the FD interest rates of Kotak Mahindra Bank from today.

• 7 days to 14 days – For general public: 2.75 per cent; For Senior Citizen: 3.25 percent
• 15 days to 30 days – For general public: 3.00 per cent; For Senior Citizen: 3.50 percent
• 31 days to 45 days – For general public: 3.25 per cent; For Senior Citizen: 3.75 percent
• 46 days to 90 days – For general public: 3.50 per cent; For Senior Citizen: 4.00 percent
• 91 days to 120 days – For general public: 4.00 per cent; For Senior Citizen: 4.50 percent
• 121 days to 179 days – For general public: 4.25 per cent; For Senior Citizen: 4.75 percent
• 180 days – For general public: 5.50 per cent; For Senior Citizen: 6.00 percent
• 181 days to 269 days – For general public: 5.50 per cent; For Senior Citizen: 6.00 percent
• 270 days – For general public: 5.50 per cent; For Senior Citizen: 6.00 percent
• 271 days to 363 days – For general public: 5.75 per cent; For Senior Citizen: 6.25 percent
• 364 days – For general public: 6.00 per cent; For Senior Citizen: 6.50 percent
• 365 days to 389 days – For general public: 7 percent; For Senior Citizen: 7.50 percent
• 390 days (12 months 25 days) – For general public: 7.20 per cent; For Senior Citizen: 7.70 percent
• 391 days to less than 23 months – For general public: 7.20 per cent; For Senior Citizen: 7.70 percent
• 23 months – For general public: 7.20 per cent; For Senior Citizen: 7.70 percent
• 23 months 1 day to less than 2 years – For general public: 7.20 per cent; For Senior Citizen: 7.70 percent
• 2 years to less than 3 years – For general public: 7 percent; For Senior Citizen: 7.50 percent
• 3 years and above but less than 4 years – For general public: 6.50 per cent; For Senior Citizen: 7 percent
• 4 years and above but less than 5 years – For general public: 6.25 per cent; For Senior Citizen: 6.75 percent
• 5 years and above and up to and including 10 years – For general public: 6.20 per cent; For Senior Citizen: 6.70 percent.

Indian Overseas Bank Interest Rates

Indian Overseas Bank (IOB) has revised the interest rates on FDs from 10 April 2023. The bank is now offering 6.50 per cent interest on one year FD. The bank has increased the interest by 0.10 percent.

Interest on FD of 444 days has been increased from 7 per cent to 7.25 per cent per annum. For FDs between 2 years and 3 years, the interest rate increased from 6.4 percent to 6.8 percent. For FDs of more than 3 years, the interest is 6.5 per cent. No changes have been made to it.

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On the one hand, the bank has reduced the interest rates by 0.50 per cent for selected tenures, while on the other hand, it has also increased it by 0.40 per cent for selected tenures. According to the official website of the bank, the bank has changed the interest rates for FDs of less than 2 crores. The bank’s new FD interest rates will be applicable from April 10, 2023.

7.25% interest will be available for 444 days

After the change, instead of 7% on FD of 444 days, the bank will now give a maximum interest of 7.25%. The bank will continue to pay an additional 0.50 per cent to the standard rate to senior citizens and 0.75 per cent to its super senior citizens.

New FD rates of Indian Overseas Bank

The bank is offering its customers 4% on FDs of 7 days to 14 days, 4% on FDs of 15 days to 29 days, 4.25% on FDs of 30 days to 45 days and 46 days to 60 days. Will give 4.25 percent interest on FD. At the same time, the bank will pay 4.25 percent interest on FDs of 61 days to 90 days, 4.50 percent on FDs of 91 days to 120 days and 4.50 percent on FDs of 121 days to 179 days.

On the other hand, the bank will pay 4.95 per cent interest on FDs from 180 days to 269 days, 5.35 per cent on FDs from 270 days to less than 1 year and 6.50 per cent on FDs from 1 year to less than 2 years.

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Unity Small Finance Bank is offering 9.50% interest on FD to senior citizens. Customers are not getting this much interest in other safe saving options right now.

Unity Small Finance Bank

Unity Small Finance Bank is now offering 9.50% per annum interest on FDs to senior citizens. Unity Small Finance Bank is giving 9.5% interest to senior citizens on 1001 days FD. However, 9% interest is being given to common retail investors on this. Small Finance Bank is offering the highest interest on FD.

Fincare Small Finance Bank (SFB)

Fincare Small Finance Bank is offering FDs maturing in 7 days to 10 years to its customers. Fincare is offering a maximum interest of 9.1 per cent to senior citizens. The maximum interest being given to the common people is 8.41 per cent. These new rates are available for FDs of 1,000 days.

RBI increased repo rate rates

The Reserve Bank of India (RBI) increased the repo rate by 25 basis points in the February monetary policy meeting, after which the repo rate now stands at 6.50%. This is the highest level of the repo rate since August 2018. RBI has increased the repo rate by 250 basis points i.e. 2.50 percent in six times. After increasing the repo rate of RBI, now most of the banks are increasing their loan rates and interest on FD.

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New tax system will increase the investment limit of senior citizen scheme

The government has proposed to double the investment limit in the Senior Citizens Savings Scheme. The new limit will be revised from existing Rs 15 lakh to Rs 30 lakh. At present, you can start investing in Senior Citizen Savings Scheme by depositing a minimum amount of Rs.1000. Senior Citizen Savings Scheme is a popular investment option due to high interest rates, tax benefits and monthly-quarterly interest payouts.

As a government-backed savings instrument, if you are 50 or 60 years old and are a retired employee, you can take advantage of the Senior Citizen Savings Scheme. Senior Citizen Savings Scheme has a tenure of 5 years, which is given the option to extend it by three years. Similarly, under the Post Office Monthly Income Scheme, the deposit limit through single account can be increased from Rs 4.5 lakh to Rs 9 lakh and joint account limit can be increased to Rs 15 lakh.

Tax exemption benefits

Now since both the schemes help in increasing the secure and regular income of the senior citizens, increasing the limit of investment in these savings schemes will give the senior citizens another source of regular income. Apart from this, a tax exemption of Rs 5 lakh has been proposed under the new tax regime in Budget 2023, which can prove beneficial in terms of tax payment.

Advantages of new-old tax system

There are two different systems of income tax in India. These include the old tax system and the new tax system. The old tax regime can give you the benefit of some tax deductions and exemptions, which are not available under the new tax regime. Taxpayers are given an option to choose the tax regime every year. However, no option is provided to taxpayers on business income.

understand the whole thing like this

A senior citizen earns interest from a fixed deposit of Rs 1 lakh. His taxable rental income is 3 lakhs. Considering that he has earned interest at the rate of 8% per annum from the Senior Citizen Savings Scheme. What, then, would be the impact of different scenarios under the new tax regime proposed under Budget 2023?

How to get benefit

Before the budget the senior citizen has deposited Rs 15 lakh and after the budget they will deposit additional amount to the extent of Rs 30 lakh. In such a situation, you will see that there is no possibility of any impact on tax with the current income. Apart from this, there will be no additional benefit from the proposed new tax regime. However, if additional deposits are made, their income increases.

Now if additional amount is deposited in the Senior Citizen Savings Scheme, then they will be benefited under the new tax regime as compared to the old tax regime. Now under the new tax regime, the investor will not have to pay any tax, but under the old tax regime, a tax of Rs 29,120 will have to be paid on additional investment of Rs 15 lakh.

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The Reserve Bank of India (RBI) has continuously increased the Repo Rate. Because of this, the private and government banks of the country have tried to make them attractive to the customers by increasing the interest rates of their Fixed Deposit (FD) schemes. Some banks are paying more than eight per cent interest on fixed deposits, while some are giving up to 9 per cent interest.

Interest on 501 days FD

Unity Small Finance is one such bank, which is offering up to 9% interest on FDs to common depositors. At the same time, the bank is giving 50 basis points additional interest on FD to senior citizens. That is, Unity Small Finance Bank is offering 9.50 percent interest on its FD. According to the information available on the website of Unity Small Finance Bank, this private bank is offering an interest rate of 8.75 per cent on FDs of 181-201 days. The bank is offering 8.75 per cent interest on 501 days FD. At the same time, Unity Small Finance Bank is offering an interest rate of 9 percent on FD of 1001 days.

Senior citizens will get 9.50% interest

Like any other bank, Unity Small Finance Bank is also offering an additional 50 basis points interest rate on bank fixed deposits belonging to senior citizens. This means, if a senior citizen invests in Unity Small Finance Bank’s FD of 181 to 201 days and 501 days, then he will get interest at the rate of 9.25 per cent per annum. At the same time, on investment in FD of 1001 days, it is offering interest at the rate of 9.50 percent to senior citizens. So, Unity Small Finance Bank is offering up to 9 percent interest on FD to the common people.

Increase in repo rate

The Reserve Bank of India had increased the repo rate by 25 basis points or 0.25 per cent in the month of February. All types of loans become expensive due to increase in repo rate. To control the inflation rate, the Reserve Bank had increased the repo rate. In this financial year, the Reserve Bank has increased the repo rate by more than two percent.a=

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In such a situation, the large private sector lender IndusInd Bank (IndusInd Bank) has increased the interest rates on FDs of less than Rs 2 crore. The increased new interest rates of the bank are applicable from 18 March. Let us know the increased new FD rates of the bank.

Getting 8.25% interest here

After the increase in interest rates, the bank will give 3.50% to 7% interest to its general customers. At the same time, it will give 4% to 7.50% interest to its senior citizen customers during the same period. Apart from this, the bank will give a maximum interest of 7.75% on FDs of 1 year 6 months to 3 years 3 months to its general customers and 8.25% to its senior citizen customers.

Increased new FD rates of IndusInd Bank

After this increase in interest rates, the bank will offer 3.50% on FDs of 7 days to 30 days, 4% on FDs of 31 days to 45 days, 4.50% on FDs of 46 days to 60 days and 61 Paying 4.60% interest on FDs of 90 days from day one. On the other hand, the bank is paying 4.75% on FDs of 91 days to 120 days, 5% on FDs of 121 days to 180 days, 5.75% on FDs of 181 days to 210 days and 5.80% on FDs of 211 days to 269 days. .

Getting 7.75% interest here,

on the other hand, the bank is giving 6% on FDs of 270 days to 354 days, 6.50% on FDs of 355 days to 364 days, 7.50% on FDs from 1 year to 1 year, less than 6 months and 1 year From 6 months to 3 years, 3 months is giving interest of 7.75% on FD. While the bank is paying interest of 7.25% on FDs above 3 years 3 months and 61 months, 7% on FDs above 62 months and 7.25% on 5 years tax saving FDs.

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Here is a list of some banks which are offering special FD schemes to their customers. But these offers are given by the bank only for a short time. If you also want to take advantage of the special FD of these banks, then you have time till March 31, 2023. Banks are offering limited period offers to customers.

SBI Amrit Kalash Scheme (SBI Amrit Kalash Deposit)

State Bank of India (SBI) is offering 400 days special FD for domestic and NRI customers. Senior citizens will get 7.60 percent interest on their FDs under the SBI Amrit Kalash Deposit FD scheme. However, SBI Amrit Kalash Deposit Scheme is giving good returns on short term investments.

Indian Bank Scheme IND SHAKTI 555 DAYS

Indian Bank is offering “IND SHAKTI 555 DAYS” special FD. The bank is offering higher interest on investment of Rs 5,000 and less than Rs 2 crore under the scheme IND SHAKTI 555 DAYS. The bank is paying an interest of 7.50 per cent on this. This FD scheme is of 555 days.

Punjab and Sind Bank’s PSB Fabulous 300 Days

Punjab and Sind Bank is offering special FD schemes PSB Fabulous 300 Days and PSB Fabulous Plus 601 Days FD scheme. This scheme is ending on 31 March. The bank is giving higher than normal returns on these schemes.

IDBI Bank

IDBI Bank has launched IDBI Bank Naman Senior Citizen Fixed Deposit scheme. Senior citizens can avail additional interest of up to 0.75 percent on this scheme. You can invest a minimum of Rs 10,000 in this.

HDFC Bank

HDFC Bank is offering a special FD to senior citizens at attractive interest rates. HDFC Bank is offering an extra 0.75% interest on Senior Citizen Care FD. HDFC Senior Citizen Care Scheme is offering 7.75 per cent interest per annum to senior citizens on FD. This FD is of 5 years and 1 day to 10 years.

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Many small banks are now offering up to 9.25% interest for senior citizens . However, it also includes many big banks which are giving interest ranging from 8 to 8.50%. Let us tell you, Utkarsh Small Finance Bank is giving up to 9.25% interest on 700 days fixed deposit to its senior citizens.

In such a situation, it is being speculated that if RBI increases the repo rate once again in April. So banks can give more interest on FD. In such a situation, debt and fixed income can prove to be better at this time for excellent returns, especially when there is a lot of volatility in the equity market.

Kotak and SBI increased the interest rates so much

Let us tell you, Kotak Bank is currently giving 7.20% interest on FD of 390 days and 6.2% on FD of 364 days. Whereas, State Bank of India is paying 7.10% interest on 400 days FD. According to experts, while selecting FD, you should look at the period for which you want to invest money. That is, till you do not need the money, you can invest the money till then.

Axis increased 0.40% interest

On Friday, Axis Bank has increased the interest on FD by 0.40%. Bank’s customers will now get 7.15% interest on FDs of 13 months to 24 months, earlier it was 6.75%. Will pay 7.26% interest on FDs of two years to two and a half years. 7% interest is being given on FDs of 30 months to 10 years.

How to choose the right FD tenure for you

While opening FD, do consult your advisor for the period or tenure. According to experts, if you are investing keeping the returns in mind at the time of opening FD, then you should choose a plan that gives good returns. On the other hand, if you want to invest money for a short time, then you can select a plan with a short term period.

Many people open FDs for long term such as 5 or 10 years, while many open FDs of short term such as 1, 2 or 3 years. Everyone does this according to their convenience. Before opening an FD, you must also think about the type of investment you want to make, short term or long term.

keep these things in mind

While opening FD, you must keep some things in mind. With this, you can also avoid losses and keep more information about FD. According to experts, the things that you should take care of, safety, returns, facility of loan on need, tax benefit, charge to be paid for breaking before maturity, all these things are included. Keeping these things in mind, you should invest money in FD.

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Unity Bank is offering an attractive interest of 9.5% to its customers on fixed deposits. Unity Bank is offering 9.50% interest to its senior citizen customers on select tenor Fixed Deposits.

9.5% interest on 1001 days Fixed Deposit

Unity Bank is giving 4.5 to 9% interest to its general customers. At the same time, the bank is offering an interest rate of 9.5% to its senior citizen customers on fixed deposits of 1001 days. At the same time, general customers will get 9% interest on fixed deposits of 1001 days.

9.25% interest on fixed deposits of this period

Unity Bank is giving 8.75% interest to general customers on fixed deposits ranging from 181 days to 201 days and 501 days. At the same time, the bank is giving 9.25% interest to senior citizens on fixed deposits of this duration. If a customer withdraws the Fixed Deposit before maturity, then the interest received will be deducted by 1%.

Disclaimer: Here only the information about the performance of the stock is given, it is not an investment advice. Investment in share market is subject to risk and you should consult your advisor before investing.

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The repo rate was increased by the Reserve Bank of India (RBI), after which public and private sector banks are also giving the benefit of increased FDs to their customers. One such small finance bank is Jana Small Finance Bank, which is offering higher interest rates on FDs to its customers. Actually, the bank is introducing a special limited fixed deposit scheme on the occasion of its fifth anniversary. This scheme is valid only from March 1 to March 31. That is, after March 31, you will not get the benefit of much interest.

Senior citizens are getting more interest

According to the bank’s website, senior citizens are getting the benefit of 8.85 per cent interest rate on this special anniversary FD. However, regular customers are getting the benefit of up to 8.15 per cent interest. Under this scheme, the tenure of FD will be 500 days.

How much interest is the bank paying on FD

Regular customers are getting 3.75% interest on FDs maturing in 7 days to 14 days in this small finance bank. Apart from this, senior citizens are getting 4.45 per cent interest for the same period. Apart from this, senior citizens are getting 4.95 per cent interest on FDs with maturity of 15 to 60 days and up to 5.95 per cent interest on FDs with maturity of 61 to 90 days.

These banks are also giving tremendous interest

Unity Small Finance Bank is offering up to 9.50% interest on fixed deposits to its senior citizen customers. Customers are getting this interest on FDs of 1001 days. Apart from this, Utkarsh Small Finance Bank is offering up to 9% interest on fixed deposits to its senior citizen customers. Customers are getting this interest on 700 days FD.

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Till these days interest is also getting strong on getting FD. Whether it is a bank or a post office, the return on investment is good everywhere. If you also want to invest in fixed deposits, then Time Deposit Scheme (Post Office TD Account) is a great option. Deposit Rs 1 lakh in lump sum and forget it for 5 years. Not only will you get strong returns on maturity, you can also claim tax exemption under section 80C of the Income Tax Act on time deposits of 5 years.

Get guaranteed return

There is a time deposit scheme for Fixed Deposit in the post office. In this, the option of investing from 1 year to 5 years is open. Just like banks get fixed returns in FD, similarly you can earn guaranteed returns in post office time deposit scheme. It is also called National Savings Time Deposit Account in the post office. At present, a guaranteed return of 7% is available. You can take advantage of this till 31 March 2023. After this, the government can review and revise the interest.

For what period is the return?

How much money will be received by investing 1 lakh rupees?

At present, 7% interest is being received on investment in Post Office’s 5-year time deposit. If you invest Rs 1 lakh in this scheme together, then you will get a total of Rs 1,41,478 on maturity. In this, Rs 41,478 will be earned only from interest.

Who can take advantage?

Any Indian citizen can invest in the post office time deposit account. In this, single account, joint account (3 people together), on behalf of the minor, his parents or guardian can open the account. If the minor is above 10 years of age, then he can also open an account under this scheme in his own name.

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By investing in which you can create a very big fund. Let us tell you that many banks in India are currently offering high-interest rates on Fixed Deposits (FDs), especially for senior citizens.

According to a media report, the increase in the repo rate by the Reserve Bank of India has led to an increase in FD interest rates, with some banks offering rates up to 9.50 per cent to senior citizens. While most major banks in the country offer interest rates on fixed deposits ranging from 3.50 per cent to 8 per cent, there are some small finance banks that offer higher rates.

Small banks are giving this much interest

For example, Utkarsh Small Finance Bank is paying the highest interest rate of 9 per cent to senior citizens for a tenure of 700 days, while 8.25 per cent is offered to ordinary citizens. Similarly, Unity Small Finance Bank offers 9 percent interest to general citizens and 9.50 percent interest to senior citizens with a tenure of 1001 days and 9.25 percent interest to senior citizens with a tenure of 501 days.

Pay special attention to this

You must keep in mind that before investing in Fixed Deposits of any bank, one should do due diligence to understand the level of safety and risk associated with the investment. It is recommended that investors take appropriate decisions only after thoroughly reviewing the financial position and credibility of the bank. Senior citizens who are planning to invest in Fixed Deposits should explore the various options available and choose the bank that offers the best returns while ensuring the safety of their investments.

The post Senior Citizen Highest FD Rate: These small banks are giving the highest interest on FD to senior citizens, know the details first appeared on Rightsofemployees.com.

At the same time, the interest rates for senior citizens are up to 8.01 percent. Customers can get FD from 7 days to 10 years in Axis Bank. The revised interest rates of the bank are applicable from January 10, 2023. Let us understand here that how much regular customers and senior citizens will benefit in 10 years on a lump sum deposit of 10 lakhs at the new rates.

Axis Bank FD Calculator 2023

On Axis Bank’s 10-year FD, its regular customers are getting 7 per cent interest per annum. If a customer makes an FD of Rs 10 lakh, then he will get Rs 20,01,597 on maturity. That is, there will be a fixed income of Rs 10,01,597 from interest.

Similarly, senior citizens are getting 7.75 per cent interest per annum on 10-year FDs. If a customer makes an FD of Rs 10 lakh, then he will get around 21,54,563 on maturity. In this, Rs 11,54,563 will be earned from interest. 

Axis Bank Interest Rates 2023

Tax saving on 5 year FD

Deduction can be claimed under section 80C on FD of 5 years. However, the interest earned on FD is taxable. In this, tax can be saved on investment up to a maximum of Rs 1.5 lakh in a financial year. It has a lock in period of 5 years. This period can extend up to 10 years.  

The post Axis Bank FD rates 2023: Check latest rate on deposits from 7 days to 10 years, 10 years of ₹ 10 lakh will become ₹ 20 lakh first appeared on Rightsofemployees.com.