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FD Rates: Senior citizens are still getting great returns on FD, these 15 banks are giving the highest interest

Jyoti — Sun, 06 Jul 2025 14:12:50 +0000

FD Interest Rates July 2025: In recent months, many banks have cut interest rates on fixed deposits (FD) several times. This is especially problematic for senior citizens, as most of their investments are in FDs. However, senior citizens are still getting attractive interest of up to 8.8% on FDs.

Public Sector Banks

If you want to make a fixed deposit in a government bank, then there too good interest rates are available for senior citizens. These banks are considered reliable in terms of stability and security, although their interest rates are slightly lower than private or small finance banks.

Bank	Maximum Interest Rate (%)
Punjab And Sind Bank	7.55%
bank of india	7.50%
Central Bank Of India	7.50%
Indian Overseas Bank	7.45%
Indian Bank	7.40%

Private Sector Banks

Private sector banks usually offer slightly higher interest rates than public sector banks, and sometimes also offer flexible tenure options. Senior citizens can get up to 7.90% interest here, especially in some options like SBM Bank.

Bank	Maximum Interest Rate (%)
SBM Bank	8.55%
Bandhan Bank	7.90%
CSB Bank	7.90%
DCB Bank	7.90%
RBL Bank	7.80%

Small Finance Bank

If you can take a little risk for higher returns, then small finance banks can be a great option. These banks are offering the highest interest rates in the market, especially for senior citizens. Such as Suryoday Bank 8.80% and Utkarsh Bank 8.75%.

Bank	Maximum Interest Rate (%)
Suryoday Small Finance Bank	8.80%
Utkarsh Small Finance Bank	8.75%
Shivalik Small Finance Bank	8.55%
Slice Small Finance Bank	8.50%
Fincare Small Finance Bank	8.25%

RBI reduced the repo rate

So far in 2025, the Reserve Bank of India (RBI) has cut the repo rate by a total of 100 basis points (1%). When RBI reduces the repo rate, that is, gives loans to banks at a cheaper rate, then the banks make the loans cheaper. But at the same time, they also reduce the interest on FD, because now they do not need to raise money from customers at a high interest rate.

Relief to senior citizens in TDS too

In the 2025 budget, senior citizens have been given a big relief in TDS. Now from April 1, 2025, banks will deduct TDS only when the total annual interest received on FD is more than ₹ 1 lakh. Earlier this limit was ₹ 50,000. Also, if the total income of the senior citizen is less than ₹ 12 lakh (from FY26), then they can completely avoid TDS by giving Form 15H to the bank, even if the interest goes above ₹ 1 lakh.

What should investors do?

Despite the cut in repo rate, FD is still a safe and profitable investment option for senior citizens. Banks may revise their interest rates further, so book FD carefully as per the current rates and tenure in July 2025. Do compare the rates of all banks before investing.

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New PF Rule: Now the highest interest on PF, 2 months gap in job will be considered regular

Jyoti — Wed, 05 Mar 2025 04:10:20 +0000

There has been no change in the interest rate of EPF in thevkg meeting of the Central Board of Trustees (CBT). PF contributors will get 8.25 percent interest this year as well, like last year.

Apart from this, several amendments have been approved in the Employee Deposit Linked Insurance Scheme related to PF. The CBT meeting was concluded on Friday under the chairmanship of Labor and Employment Minister Mansukh Mandaviya.

On Friday, in a meeting of the Central Board of Trustees (CBT) chaired by Union Labor and Employment Minister Dr. Mansukh Mandaviya, it was recommended to deposit 8.25% annual interest rate on EPF deposits. Now after the notification of the Central Government, the interest rate will be credited to the accounts of EPFO contributors.

Now the highest interest on PF

Before the meeting, it was feared that perhaps this time the interest rates might be cut. But this did not happen. Last year also 8.25 percent interest was received on PF. At present, the highest interest is being received on PF as compared to other savings schemes. The government had reduced the interest rate on PF from 8.5 to 8.1 percent in 2022. But in 2024, the interest rate was made 8.25 percent.

More interest than Sukanya Samriddhi Yojana

Currently, 7.1 percent interest is being given on Public Provident Fund (PPF). If money is deposited in the post office for 5 years, then 7.5 percent interest will be received. The same interest is given on Kisan Vikas Patra. The interest rate on term deposits up to three years is 7.1 percent. 8.2 percent interest is given on Senior Citizen Saving Scheme and Sukanya Samriddhi Yojana. 7.7 percent interest is given on National Saving Certificate. On the other hand, only 4 percent annual interest is being given on post office savings. In this respect, the interest being received on PF is the highest.

Even if there is a gap of up to two months in changing jobs, you will still get the benefit of EDLI

Many important amendments have been made in the Employee Deposit Linked Insurance (EDLI) in the CBT meeting. If an EPF member dies before one year of regular service, the nominee will get the benefit of life insurance of Rs 50 thousand. About 5 thousand families will benefit from this change.

If an employee dies within six months of the last PF contribution, he will also get the benefit of EDLI. But the condition is that the name of the member should not have been removed from the roll. Earlier such deaths were considered as out of service and the family did not get the benefit. More than 14 thousand families will get its benefit every year.

If there is a gap of two months between leaving one job and joining another, then it will be considered a regular job. This decision will provide EDLI benefits to one thousand families. Earlier, if there was a gap of one or two days between two jobs, the benefit of minimum 2.5 lakh and maximum 7 lakh rupees of EDLI was not given because the condition of one year of continuous service was not fulfilled. It is believed that these decisions of CBT will benefit 20 thousand families every year.

What is EDLI scheme?

Employee Deposit Linked Insurance (EDLI) is an automatic scheme linked to EPF. In this, all employees holding EPF accounts are covered. Under the EDLI scheme, the nominee is given the benefit of life insurance in case of death of an insured employee of EPF.

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Senior Citizens FD Rates: These 5 banks are giving the highest interest on FD to senior citizens, check interest rates here

Jyoti — Thu, 05 Sep 2024 10:42:48 +0000

Senior citizens are given 0.5 percent more interest on FDs than normal customers. But there is also a small finance bank which is giving 0.6 percent more interest to senior citizens than normal customers.

Highest FD Interest Rates for Senior Citizens: The business of all the small finance banks working in India is continuously growing. Small finance banks are giving more interest on FDs to their customers than commercial banks. This is the reason why now people are increasingly opening FD accounts in these small finance banks along with banks. Here we will talk about those small finance banks which are giving the highest interest on fixed deposits to senior citizens. Let us tell you that senior citizens are given 0.5 percent more interest on FDs than normal customers. But there is also a small finance bank which is giving 0.6 percent more interest to senior citizens than normal customers.

Jana Small Finance Bank

Jana Small Finance Bank is offering the highest interest rate of 8.75% to senior citizens on FD schemes with tenures of 365 days, 730 days and 1095 days.

Equitas Small Finance Bank

Equitas Small Finance Bank is offering the highest interest rate of 9.00% to senior citizens on FD schemes with tenures of 444 days.

Also Read- Bank FD Rate Hike: PNB revises its fixed deposit interest rates; check latest rates here

Utkarsh Small Finance Bank

Utkarsh Small Finance Bank is offering 0.6 percent more interest to senior citizens on FD schemes than general customers. This bank is offering the highest interest rate of 9.10% to senior citizens on FD schemes with tenures of 730 days to 1095 days and 1500 days.

Suryodaya Small Finance Bank

Suryodaya Small Finance Bank is offering the highest interest rate of 9.10% to senior citizens on fixed deposit schemes with tenures ranging from 2 years and 1 day to 3 years.

Unity Small Finance Bank

Unity Small Finance Bank is offering the highest interest rate of 9.50% to senior citizens on FD schemes with tenures ranging from 1001 days.

SBI is giving highest interest on one year FD, check FD rates of 5 big banks

Pravesh Maurya — Tue, 12 Sep 2023 11:29:19 +0000

FD Rates : Till now, people investing in Fixed Deposit have benefited a lot due to rising interest rates. Interest rates on fixed deposits have increased significantly in the last few months. There are many banks which are offering interest rates up to 8 percent on FD.

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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Top 5 Banks are giving highest interest on savings account, check list of banks

Pravesh Maurya — Mon, 31 Jul 2023 12:08:33 +0000

Saving Account Interest: Banks across the country offer the option of opening different types of savings accounts according to the needs and service of the customers. Many banks also offer attractive interest on savings accounts to their customers, which prove to be very beneficial for the customers. The interest on the savings account is calculated on a daily basis. It depends on your daily closing balance.

The interest on the savings account is credited to your account at monthly or quarterly intervals as per the rules of the bank. How much interest will be available on the savings account depends on the bank. Senior citizens get the highest interest on FD. They do not get this benefit on savings account. Let us know how much interest SBI, ICICI Bank, HDFC Bank, PNB, Canara Bank are paying on savings account.

Interest rate on SBI Savings Account (SBI Saving Account interest rate)

The interest rate is 2.70 per cent on savings account up to Rs 10 crore and 3 per cent on balance above Rs 10 crore.

HDFC Savings Account

HDFC Bank’s savings account offers 3% interest if the balance is up to Rs 50 lakh. The interest is 3.50 per cent on balance above Rs 50 lakh.

ICICI Bank Savings Account

At the end of a day, the interest rate will be 3 percent on balance less than Rs 50 lakh. Balance above Rs 50 lakh at the end of the day will attract an interest rate of 3.5 per cent.

Punjab National Bank

Punjab National Bank gives 2.70% interest rate on balance less than Rs 10 lakh. 2.75 percent interest is available on account balance of less than Rs 10 lakh to Rs 100 crore. PNB gives 3% interest on accounts of Rs 100 crore and above.

Canara Bank Savings Account

Canara Bank is paying interest between 2.90 percent to 4 percent on the savings account. 4% interest will be given on having a balance of Rs 2000 crore.

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Good news for FD investors, Bank of India started special FD ‘Monsoon Deposit’, getting highest interest

Pravesh Maurya — Sat, 29 Jul 2023 11:28:57 +0000

The interest rates of FDs of less than two crore rupees have been changed by the public sector Bank of India . Along with this, a special FD scheme Monsoon Deposit has been launched for 400 days. The maximum interest of 7.25 percent is being given by the bank on this special FD.

According to the bank’s website, the new interest rates have come into effect from July 28. FDs are being offered by the bank for a period ranging from 7 days to 10 years.

Bank of India FD interest rates

On FD from 7 days to 45 days – 3.00 percent
On FDs from 46 days to 179 days – 4.50 percent
On FDs ranging from 180 days to 269 days – 5.00 percent
On FDs from 270 days to less than one year – 5.50 percent
On one year FD – 6.00 percent
On FDs of one year one day to 399 days – 6.00 percent
400 days FD – 7.25 percent
On FDs from 401 days to less than two years – 6.00 percent
2 years to less than 3 years on FD – 6.75 percent
3 years to less than 5 years on FD – 6.50 percent
On FD from 5 years to 10 years – 6.00 percent

Senior citizens will get more interest

According to the information given on the bank’s website, senior citizens (60 years or more) will be given 0.25 percent interest in addition to 0.50 percent interest on FDs of 3 years or more. At the same time, in addition to 0.50 percent interest, 0.40 percent interest will be given to super senior citizens (80 years or more) for FDs of 3 years or more.

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Fixed Deposit: Good opportunity to invest! These five banks are giving highest interest on 2 year FD

Pravesh Maurya — Mon, 10 Jul 2023 13:29:03 +0000

On fixed deposits, these five banks are giving the highest interest on two-year fixed deposits. These banks are offering higher interest rates to senior citizens as compared to general citizens.

Fixed deposits have become a good option for investment after the increase in interest rates for some time. Many banks are paying good interest rates to the customers on fixed deposits. Here five such banks have been told.

DCB Bank is paying 8.5 percent interest on two-year fixed deposits. This interest rate is being given to senior citizens. At the same time, this bank is offering a high interest rate of 7.75 percent to the common citizens.

Similarly, IndusInd Bank is giving 8.25 percent interest on two-year FDs to senior citizens, while for common citizens, this bank is giving the highest interest of 7.75 percent.

RBL Bank is offering 8 percent interest on two-year FDs to senior citizens. At the same time, the highest interest of 7.80 percent is being given to the common citizens for the tenure of 10 years.

Axis Bank is offering 7.8 percent interest on two-year fixed deposits to senior citizens, while the maximum interest for the highest tenure for common citizens is 7.1 percent.

AU Small Finance Bank is giving 7.75 per cent interest to senior citizens on two-year FDs, while giving maximum 7 per cent interest to common citizens on high tenure.

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FD Interest: Opportunity to earn profit from LIC’s FD, getting highest interest

Pravesh Maurya — Fri, 21 Apr 2023 04:19:14 +0000

Fixed Deposit Interest Rates: If you are planning to earn more profits through investment, then LIC’s Housing Finance Fixed Deposit can be considered.

LIC Housing Finance Limited ( LIC HFL ) has increased its interest rates on Cumulative Public Fixed Deposit with effect from April 12, 2023. After the revision, HFL is offering interest rates ranging from 7.25% to 7.75% on deposits of 1 year to 5 years.

Cumulative Public Deposit

LIC Housing Finance Limited has increased the interest rates on its Cumulative Public Deposit . These rates are being offered for deposits of Rs 20 crore and above and deposits under the scheme are available for tenures of 1 year, 18 months, 2 years, 3 years and 5 years. So let’s know the interest rates available under it.

Interest rates offered by LIC HFL

Interest rates for deposits below Rs 20 crore-

1 year: 7.25%
18 months: 7.35%
2 years: 7.60%
3 years: 7.75%
5 years: 7.75%

Interest rates for deposits above Rs 20 crore-

1 year: 7.25%
18 months: 7.25%
2 years: 7.50%
3 years: 7.75%
5 years: 7.75%

Non-Cumulative Public Deposit interest rate

Interest rates for non-cumulative public deposits up to Rs 20 crore-

Monthly option

Monthly Option for 1 Year Deposit: 7%
Monthly option for 18 months deposit: 7.10%
Monthly Option for 2 Year Deposit: 7.35%
Monthly Option for 3 Year Deposit: 7.50%
Monthly option for 5 years deposit: 7.50%

Annual option

Annuity option for 1 year: 7.25%
Annuity option for 18 months: 7.35%
Annuity option for 2 year deposit: 7.60%
Annuity option for 3 years deposit: 7.75%
Annuity option for 5 years deposit: 7.75%

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Fixed Deposits Rate Increase: This bank is giving highest interest of 9% for 501 days, know full details

Pravesh Maurya — Sat, 25 Mar 2023 05:04:36 +0000

In the last few months, banks have increased the interest rates of Fixed Deposits. Due to this, the average interest rate of bank fixed deposits has increased from 5.5 percent to 7 percent. The reason behind this is the increase in the repo rate.

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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Best FD Rates for Women’s: These banks are giving highest interest rate on FD to women, see list of banks

Pravesh Maurya — Tue, 14 Mar 2023 09:04:41 +0000

Generally, senior citizens get the benefit of the highest interest rate on fixed deposits from the banks. There are certain banks and NBFC companies that have offered the highest interest rates on FD investment especially to women investors.

Whereas, some have launched special FD investment schemes for women. On the occasion of International Women’s Day, women can earn huge profits by investing in these FD schemes.

Interest Rates on Indian Bank Fixed Deposit

Indian Bank has launched a new retail FD scheme named IND Super 400 Days. The Special Deposit is open for investment from March 6, 2023 for the sake of investors. In this IND Super 400 Days Special Scheme, 0.05 percent higher interest rate has been offered to women investors. According to Indian Bank, senior citizen women investing on this FD scheme can get 7.65 percent interest rate and super senior citizens can get 7.90 percent interest rate.

Interest rates on Punjab and Sind Bank FD

Punjab and Sind Bank has launched a special FD scheme for women called PSB Griha Lakshmi Fixed Deposit Scheme (PSB GRIH LAKSHMI FIXED DEPOSIT SCHEME). Women can invest in this FD through online mode. On this FD scheme, the bank is giving an interest rate of 6.90 percent to women. For senior citizen women investors, the bank has offered an interest rate of 7.40 per cent.

Interest rates on FDs of SBI, HDFC and ICICI Bank

Most banks do not offer higher interest rates separately for women on investment in FDs. SBI offers the highest 7.10% interest rate on Special Amrit Kalash Deposit FD for its regular investors. The last date for investment in this FD scheme of SBI is 31 March 2023. Similarly, HDFC Bank and ICICI Bank offer an interest rate of up to 7.10 per cent on their fixed deposit schemes.

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Special Account for Women: This bank brought special savings account for women, will give highest interest of 7%

Pravesh Maurya — Tue, 14 Mar 2023 04:29:11 +0000

Special Account for Women: Suryoday Small Finance Bank on Monday launched a new savings account for women. Suryoday’s Blossom Women’s Savings Account brings to women a simplified way of superior service and rewarding banking experience.

Under this new account, women will get RuPay Platinum Debit Card specially designed for them. With this card women will also get discount in online shopping. Along with this, 7 percent interest will be available annually on the savings account.

This savings account is designed for women

R Baskar Babu, MD & CEO, Suryoday Small Finance Bank said that it is committed to provide the best experience and service to its customers. We believe Blossom Women Savings Account will empower women to confidently save, invest and meet their financial goals. This new women savings account can be operated through 571 banking outlets and digital banking platforms .

Benefits of Blossom Mahila Savings Account

The free RuPay Platinum Debit Card with the bank account will entitle women customers to rewards like discounts and cashback. Interest will accrue on the account every month. A complimentary account will be available for the child. Two-wheeler loan and processing fee will be waived. Door-step banking facility will be available as per the need. Insurance will be available according to the time of debit card. A minimum balance of Rs 10,000 is required.

These are the interest rates on FD of Suryoday Small Finance Bank

7 days to 14 days: 4.00 per cent for general public; 4.50 percent for senior citizens
15 days to 45 days: 4.25 per cent for general public; 4.75 percent for senior citizens
46 days to 90 days: 4.50 per cent for general public; 5.00 percent for senior citizens
91 days to 6 months: 5.00 per cent for general public; 5.50 percent for senior citizens
6 months to 9 months: 5.50 per cent for general public; 6.00 percent for senior citizens
More than 9 months to less than 1 year: 6.00 per cent for general public; 6.50 percent for senior citizens
1 year to 1 year 6 months: 7.00 per cent for general public; 7.50 percent for senior citizens
1 year to more than 6 months to 2 years: 8.01 per cent for general public; 8.51 percent for senior citizens
More than 2 years to 998 days: 7.51 per cent for general public; 8.01 percent for senior citizens
999 days: 8.51 per cent for general public; 8.76 percent for senior citizens
32 months 27 days to 3 years: 7.25 per cent for general public; 7.75 percent for senior citizens
More than 3 years to less than 5 years: 6.75 per cent for general public; 7.25 percent for senior citizens
5 years: 9.01 percent for general public; 9.26 percent for senior citizens
Above 5 years but up to 10 years: 6.00 per cent for general public; 6.50 percent for senior citizens

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SBI, PNB, ICICI banks giving highest interest on recurring deposits, know latest rate

Pravesh Maurya — Wed, 01 Mar 2023 13:05:43 +0000

RD Interest Rates: Have you also opened RD (Bank RD)…? Or you also have a plan to get RD done in the coming days, then this is important news for you. By investing in banks, people get many benefits and also get much better interest. You get good interest on recurring deposit. Today we will tell you which banks including SBI (SBI RD), PNB (PNB RD) are paying how much interest on RD.

Many banks have increased interest rates

You can open RD through offline, online or mobile banking. State Bank of India, HDFC Bank and ICICI Bank have increased the interest on Recurring Deposit ie RD. Now these banks are offering more interest than before. If you are also thinking of investing on RD, then we tell you how much interest you are getting in which bank.

What is RD Scheme?

RD is a small saving scheme. In this, you can also open an account from post office or banks and you can invest in it only for 5 years. On investing money in this, you are given much better interest from the banks and you are given many facilities on getting RD done by the bank. Let us tell you that all banks pay different interest on RD.

SBI RD interest rate

State Bank of India is giving you interest ranging from 6.80 to 7 percent from 12 months to 120 months. In this you will have to invest 100 rupees every month.

PNB RD interest rate

PNB Bank gives interest ranging from 5.5 to 7.25 percent on RDs of 6 months to 10 months. You can pay RD even on the last day of installment.

HDFC Bank RD Interest

HDFC Bank gives you 4.5 to 7.10 percent interest on RD ranging from 6 months to 120 months, in which you have to invest every day.

ICICI Bank RD Interest Rate

ICICI Bank gives you 4.75 to 7.10 percent interest on RDs ranging from 6 months to 120 months. In which you can invest at least 500 rupees.

Yes Bank RD Interest Rate

Yes Bank gives you 6 to 7.50 percent interest on RD ranging from 6 months to 10 years.

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Fixed Deposit Rates: Now you will get more money on Fixed Deposit, interest rate is more than 8%

Pravesh Maurya — Tue, 28 Feb 2023 12:32:06 +0000

Fixed Deposit Rates: These days, where it is becoming difficult for banks to withdraw cheap deposits from customers, they are now being forced to offer handsome interest on fixed deposits by beating inflation.

Some government banks, led by Punjab & Sind Bank, are offering higher returns of up to 8-8.5% per annum. Due to paucity of funding, banks are offering strong deposit rates to their customers for tenures ranging from 200 to 800 days, beating inflation. This is possible because credit growth has been better this year than deposits.

Fixed Deposit pricing is positive pricing for customers despite the low interest rate of 7%. At the same time, despite the retail inflation rising up to 6.52% in January, the real rates remained positive. Due to inflation being more than 6% in 10 months of 2022, due to six consecutive rate hikes by the Reserve Bank, the repo rate has increased by 250 bps to 6.50%.

The impact of credit growth

Credit growth has seen a 16.5% increase within 15 days as on January 13, 2023. While deposit growth stood at 10.6%. Rates have also increased for other reasons, because the interest rate on one-year deposit of the post office remains at 6.6% and for two years at 6.8%. At the same time , the yield on 10-year government securities is only 7.35%.

Why the lack of funding?

In fact, banks have put the entire blame for the increase in the repo rate since May last year on their borrowers, but they are not able to do so with deposits. Due to this, the situation of lack of funding has arisen. Because of which they have to borrow from the market.

According to the new deposit pricing, any depositor of a public sector bank gets 7 to 7.25% interest for 200 days to 800 days.

These banks are giving the highest interest

State Bank of India (SBI) is offering 7.10% interest to general citizens and 7.60% to senior citizens for 400 days.
Punjab & Sind Bank is offering 8% interest to retail depositors and 8.50% interest to senior citizens in 221 days bucket.
Central Bank is giving interest up to 7.85% to senior citizens and 7.35% to retail customers for 444 days.
Union Bank of India is giving 7.30% interest to retail customers and 7.80% interest to senior citizens on deposits of 800 days.

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Best Bank FD Rates: These banks are getting strong interest on deposits

Pravesh Maurya — Tue, 28 Feb 2023 09:29:11 +0000

Best Bank FD Rates: In terms of investment, fixed deposits ie FD is seen as a better option. Guaranteed returns are available in this. The amount of interest also varies for different tenures.

In such a situation, which bank is getting the highest interest on an amount of less than Rs 2 crore for a period of 7 to 10 years? To understand this, we checked the FD rates of SBI, HDFC BANK, AXIS BANK, IDFC FIRST BANK and RBL BANK, which are higher than others in terms of interest offered.

In which bank is getting more interest?

Major banks of the country are offering up to 7.8% interest on FDs for a period of 7 days to 10 years. Now let us understand from the figures of returns in terms of investment of Rs 1 lakh, which bank is getting the highest interest?

RBL Bank: For general customers, a minimum interest of up to 3.25% is being offered for a period of 7 days. While paying 7.80 percent interest annually for a period of up to 10 years. In this context, an investment of Rs 1 lakh will increase to Rs 2.16 lakh in a period of 10 years.
IDFC FIRST BANK: For general customers, a minimum interest of up to 3.50 per cent is being offered for a period of 7 days. While paying 7.50 percent interest annually for a period of up to 10 years. The investment amount of Rs 1 lakh will increase to Rs 2.10 lakh on the calculation of maximum interest in a period of 10 years.
AXIS BANK: For general customers, a minimum interest of up to 3.50 per cent is being offered for a period of 7 days. While paying 7.26 percent interest annually for a period of up to 10 years. In terms of maximum period and interest, the investment of Rs 1 lakh will be Rs 2.05 lakh.
SBI: For general customers, a minimum interest of up to 3% is being offered for a period of 7 days. While paying 7.10 percent interest annually for a period of up to 10 years. If you invest Rs 1 lakh, then after 10 years at an annual interest rate of 7.10 percent, your amount will increase to Rs 2.02 lakh.
HDFC Bank: For general customers, for a period of 7 days, a minimum interest of up to 3 percent is being offered. While paying 7.10 percent interest annually for a period of up to 10 years. With an annual return of 7.1%, an investment of Rs 1 lakh will grow to Rs 2.02 lakh over a period of 10 years.

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Tax Saving Fixed Deposit: SBI, HDFC or ICICI Bank, Who is giving highest interest on tax saving FD, Know details

Pravesh Maurya — Fri, 24 Feb 2023 13:05:53 +0000

Tax Saving Fixed Deposit: Here information is given about the tax saving interest rate of many banks like SBI, HDFC Bank, ICICI Bank. Let’s know who is paying more interest.

In order to control the inflation rate, the country’s central bank (RBI) has increased the repo rate six times, due to which the interest rates of bank FDs increased several times. Due to the rapidly increased Fixed Deposit interest rates, some banks are giving good interest to the investors. At the same time, investors are being given more interest than before on Tax Saving Fixed Deposit.

Here is information about tax saving fixed deposits of SBI, HDFC Bank, ICICI Bank and other banks. By comparing these interest, you can know which bank will give you more profit with tax saving. However, before that let us know about tax saving FD.

What is tax saving fixed deposit

Under tax saving FD, along with a fixed return, the benefit of tax exemption is also given. Under this, exemption can be claimed under Section 80C of the Income Tax Act 1961.

Tax Saving Fixed Deposit Features

Under this FD, an account can be opened on investment ranging from Rs 100 to Rs 1.5 lakh.
The lock in period is for five years.
This FD gives interest on monthly or quarterly basis.
Tax will be applicable on the interest earned.
The rule of premature withdrawal is not applicable in this.
There will be an option of joint account in tax saving FD scheme.

Which bank is giving more interest on tax saving FD

SBI Bank is paying 6.50% interest on tax saving FD. On the other hand, HDFC Bank 7%, ICICI Bank 7%, Axis Bank 7%, IndusInd Bank 7.25% and DCB Bank 7.60% are paying interest on five-year tax saving FD.

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HDFC Bank has increased the interest on these FDs, getting 7.15% interest on 15-month FDs

Pravesh Maurya — Sun, 19 Feb 2023 06:28:51 +0000

HDFC Bank FD rate : HDFC Bank, the country’s largest private sector bank, has once again increased the interest rates on bulk FDs ranging from Rs 2 crore to Rs 5 crore.

Bank HDFC Bank Senior is now paying a maximum interest of 7.75% on FD. This time the bank has increased the interest of 0.25 percent on all FDs ranging from 7 days to 9 months.

These are the interest rates

The bank is offering 4.75 per cent to 7.15 per cent interest on FDs ranging from 7 days to 10 years to common people and 5 per cent to 7.75 per cent to senior citizens. Bank Senior Citizen is offering the highest interest of 7.75% on FDs ranging from 5 years, 1 day to 10 years. These new rates have come into effect from tomorrow, February 17, 2023.

Now these are the new rates of HDFC Bank

7 days to 14 days: For general public – 4.75 per cent; For senior citizens – 5.25 percent

15 days to 29 days: For general public – 4.75 per cent; For senior citizens – 5.25 percent

30 days to 45 days: For general public – 5.50 per cent; For senior citizens – 6 percent

46 days to 60 days: For general public – 5.75 per cent; -6.25 percent for senior citizens

61 days to 89 months: For the general public – 6 percent; For Senior Citizen – 6.50 percent

90 days to 6 months: For general public – 6.50 per cent; For senior citizens – 7 percent

6 months 1 day to 9 months: For general public – 6.65 per cent; For Senior Citizen – 7.25 percent

HDFC Bank has once again increased the interest on bulk FDs.

9 months 1 day to less than 1 year: For general public – 6.75 per cent; For Senior Citizen – 7.25 percent

1 year to 15 months: For general public – 7 percent; For Senior Citizen – 7.50 percent

15 months to less than 18 months: For general public – 7.15 per cent; For Senior Citizen – 7.65 percent

18 months to 2 years: For general public – 7.15 per cent; For Senior Citizen – 7.65 percent

2 years 1 day to 3 years: For general public – 7.00 per cent; For Senior Citizen – 7.50 percent

3 years 1 day to 5 years: For general public – 7.00 per cent; For Senior Citizen – 7.50 percent

5 years 1 day to 10 years: For general public – 7.00 per cent; For Senior Citizen – 7.75 percent.

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Best FD Rates For Senior Citizen! This bank is giving highest interest on 5 years FD to senior citizens

Pravesh Maurya — Thu, 12 Jan 2023 06:28:51 +0000

Best FD Rates: Fixed Deposit (FD) is seen as a better option for fixed income with the lowest risk. In such a situation, senior citizens prefer the option of FD for investment.

The good thing is that to control the rising inflation, the Reserve Bank of India (RBI) is also continuously increasing the interest rates. Due to this, banks are not only making loans costlier, but also increasing the interest rates on deposits. Now if we look at the list of public sector banks giving the highest interest for a period of 5 years, then there are many banks which are offering annual returns of up to 7.00%.

Bank of Baroda FD Rates

Bank of Baroda (Bank of Baroda FD Rate): For senior citizens, the government bank is offering an interest of 6.90% per annum for a period of 5 years. While giving interest of 7.25% for 3 years. Also, 7.25% interest is available for a period of 1 year.

Bank of India FD Rates

Bank of India (Bank of India FD Rate): The government bank is offering 6.75% interest per annum on FD of 5 years duration to its senior citizens. While offering 7.25% interest on 3 years and 6.50% interest on 1 year.

Bank of Maharashtra FD Rates

Bank of Maharashtra (Bank of Maharashtra FD Rate): This bank is giving 6.25% interest to senior citizens on FDs for a period of 5 years. Apart from this, it is offering 6.50% interest for a period of 3 years and 6.65% for 1 year.

Canara Bank FD Rates

Canara Bank FD Rate: The bank is offering 7.00% p.a. interest on FDs for a period of 5 and 3 years to its senior customers. Apart from this, 7.25% interest is being offered for a period of one year.

Indian Bank FD Rates

Indian Bank (Indian Bank FD Rate): This government bank is offering 7.00% interest on FD for a period of 5 years. While paying 6.75% interest annually on FD for 3 years. Apart from this, 6.60% interest is available for a period of 1 year.

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Senior Citizen Best FD Scheme: Which bank is giving the highest interest to senior citizens, check the complete list

Pravesh Maurya — Tue, 20 Dec 2022 04:17:28 +0000

Senior Citizen Best Scheme: The Reserve Bank of India (RBI) has increased the repo rate by 225 bps from May 2022.

As a result, interest rates on fixed deposits have gone up in the last few months. Fixed Deposits (FDs) are often the preferred investment option for senior citizens. All top lenders including State Bank of India (SBI), ICICI Bank, HDFC Bank, Yes Bank, Kotak Mahindra Bank and others offer under 50 basis points (bps) higher interest to senior citizens than general customers.

The Reserve Bank of India (RBI) has increased the repo rate by 225 bps from May 2022. As a result, interest rates on fixed deposits have gone up in the last few months.

Let us have a comparative look at the interest rates offered by SBI, HDFC Bank, ICICI Bank, Yes Bank and Kotak Mahindra Bank…

SBI offers 7.25% interest rate on Senior Citizen FD. The rates are effective from 13 December 2022.
HDFC Bank offers up to 7.5% interest on Senior Citizen FD. These rates are effective from 14 December 2022.
ICICI Bank pays up to 7.5% interest on Senior Citizen FD. These rates are effective from 16 December 2022.
Yes Bank pays up to 7.5% interest on Senior Citizen FD. These rates are effective from 9 December 2022.
Kotak Mahindra Bank offers up to 7.5% interest on Senior Citizen FD. These rates are effective from 15 December 2022.

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Senior Citizen Saving Scheme: These banks are giving highest interest for senior citizens, check latest rate

Pravesh Maurya — Fri, 18 Nov 2022 05:29:47 +0000

SCSS vs FD: Fixed deposit schemes of many small finance banks are offering higher interest than Senior Citizen Savings Scheme (SCSS) these days. The current interest rate for SCSS deposits is 7.6%.

There are five banks that are offering 8.5% or more interest on FDs to senior citizens. Many other banks are offering interest of 8% or more per annum. However, it is to be noted that higher interest does not mean that these senior citizens are better than small savings. Here you have to check FD tenure and other benefits. Let us know about the rates of these banks.

Ujjivan Small Finance Bank

Ujjivan Small Finance Bank is offering 8.75% interest on 80 weeks (560 days) deposits to senior citizens. The bank is offering 8.5% interest on deposits of 990 days. These rates are applicable from 5 November.

Utkarsh Small Finance Bank

Utkarsh Small Finance Bank is offering 8.5% interest on 700 days deposit to senior citizens. The bank is paying 8.25% interest on FDs of 5 years from 701 days. These rates are applicable from 17 October 2022.

Jana Small Finance Bank

Jana Small Finance Bank is offering 8.5% interest on deposits of 2 to 3 years to senior citizens. The bank is paying 8.45% on deposits of 1 to 2 years and 8.3% on deposits of 3 years to less than five years. These rates are applicable from 14 October 2022.

Fincare Small Finance Bank

Fincare Small Finance Bank is offering 8.5% interest on 1000 days deposit to senior citizens. The bank is offering 8.25% interest on deposits of 750 days and 8% on deposits of 500 days. These new rates are applicable from 9 November.

ESAF Small Finance Bank

ESAF Small Finance Bank is offering 8.5% interest on 999 days deposit to Senior Citizens. The bank is offering 7.75% interest on deposits from 1000 days to less than three years and from 2 years to 998 days. These rates are applicable from 1 November 2022.

Unity Small Finance Bank

Unity Small Finance Bank is offering 8.3% interest on 1 year 1 day deposit to senior citizens. The bank is offering 8.15% interest on deposits of 2 to 5 years. Bank rates are applicable from 1st November.

Suryoday Small Finance Bank

Suryoday Small Finance Bank is offering 8.26% interest on 999 days deposit to senior citizens. The bank is paying 8.01% interest on deposits of 1 year to 998 days. These rates are applicable from 2 November.

DCB Bank (DCB Bank)

DCB is offering 8.25% interest on FDs of 700 days to 36 months and FDs of 26 months to senior citizens. The bank is offering 7.75% interest on deposits ranging from 36 months to 60 months to 5 years. These rates will be applicable from October 31.

Equitas Small Finance Bank

Equitas Small Finance Bank is offering 8% interest on deposits for 888 days to senior citizens. The bank is offering 7.9% interest on deposits of 2 years 1 day to 887 days and 889 days to 3 years. These rates are applicable from 15 October.

Bandhan Bank

Bandhan Bank is offering 8% interest on 600 days deposit to senior citizens. The bank is offering 7.5% interest on deposits of 2 to 5 years. These are applicable from 7 November.

AU Small Finance Bank

AU Small Finance Bank is offering 8.24 per cent interest on term deposits of 24 months to 45 months to senior citizens. These rates are applicable from 10 October.

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Good news for Senior Citizens, this bank will get the highest interest on getting FD, know what are the new FD rates

Pravesh Maurya — Wed, 12 Oct 2022 07:28:06 +0000

Ever since the Reserve Bank of India has increased the repo rate, the problems of borrowers have increased, but those who have fixed deposits have become silver.

The reason for this is that since the increase in the repo rate, debt has become expensive, but investors are getting more returns on FDs. The name of Fincare Small Finance Bank has also been added in the race to increase the interest rate in FD. This bank has increased the interest on all FDs less than two crores. The new interest rates have come into effect from October 11.

Here are the new interest rates of the bank

Fincare Small Finance Bank will continue to offer interest @ 3% on Fixed Deposits maturing in 7 days to 45 days and 3.5% on FDs maturing between 46 days to 90 days. This bank will now pay 4.5% interest on FDs that mature between 91 and 180 days. While FDs maturing between 181 to 364 days will get 5.5% interest. The interest on fixed deposits maturing between 12 and 24 months will be 6.75%. Interest will be 7.25% for a period of 500 days and 7.75% for a period of 1000 days. 7% interest on FD of 24 months 1 day to FD of 48 months, 6.75 percent interest on FD of 48 months 1 day to 59 months. At the same time, interest will be given at the rate of 6 percent on FDs of 66 months 1 day to 84 months.

Senior citizens silver

Senior citizens have benefited a lot in terms of interest on FD. Fincare Small Finance Bank will now offer interest rate of 0.50 percent more than the standard interest rate on FDs of all tenors to senior citizens. Senior citizens will get interest in the range of 3.50% to 8.25% on fixed deposits maturing between 7 days to 10 years. Apart from this, even if they have a joint account with the bank and the first account holder is a senior citizen, they will still get the benefit of the new interest rates.

Why did the bank’s interest rate increase?

Explain that whenever the Reserve Bank increases or decreases the interest rates, it is passed on to all the bank customers because the interest rates on loans and other savings schemes are linked to the benchmark. Most banks offer higher interest rates to senior citizens on FDs or any other savings schemes. In September, RBI has increased the repo rate for the fourth time and with this, banks have also increased the interest rate on loans and savings schemes. In this episode, Fincare Small Finance has implemented new interest rates from October 11.

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Senior Citizen Fixed Deposit: Where will senior citizens get the highest interest? Check how much return you are getting in different banks

Pravesh Maurya — Sat, 24 Sep 2022 12:55:53 +0000

Maximum Interest Rate on FD: Most of the senior citizens do not want to take any risk in terms of investment. He prefers to invest part of his savings in a better and guaranteed return scheme. At present, there are many schemes available for them. One of which is also a fixed deposit (FD) scheme.

This scheme is completely safe and returns are also guaranteed on it. Market volatility has no effect on this scheme. Senior citizens get a special discount on the interest income of FD. Under Section 80TTB of the Income Tax Act, resident senior citizens get the benefit of deduction up to Rs 50,000 on interest income on FDs in banks, co-operative banks or post offices. Also, there will be no TDS deduction from interest payment up to Rs 50,000 in a financial year.

This way you will get more returns
If you are above 60 years of age, you can go for these FDs and choose the tenure and amount based on your financial goals. Instead of putting your money in one FD, you can open multiple FD accounts of different amounts and terms. You can reinvest your money after maturity if the interest rate increases.

Compare interest rates before investing

FDs are useful if you need money for emergency use. Some banks allow you to break your FD without levying any penalty or additional charges. However, you should compare the rates offered by different banks before investing in FDs. Through this you will be able to invest in the right place. Along with this, you should also read the terms and conditions related to it properly. It is easy to open your FD account.

You can visit any nearest bank branch or apply online also. It is often advised that you open your FD account with the bank where you have an existing relationship as it becomes hassle free for you. You can also avoid more paperwork processes. If you are thinking of investing in FD, then the list given below can prove to be helpful in this. The maximum interest rate and maturity period have been given in this list.

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Post Office Term Deposit or Bank FD, which is paying the highest interest? Check Latest Interest Rate

Pravesh Maurya — Fri, 23 Sep 2022 06:05:54 +0000

Post Office Term Deposit: Common investors of the country invest extensively in both post office term deposits and bank FDs to get assured and safe returns on their money. To decide which of these options is better for you, it is important to know where the returns are being given at the moment.

What is the return in India Post Term Deposit

India Post Term Deposits (POTDs), colloquially also known as Post Office Fixed Deposits, have been extremely popular across the country for decades. The reach of the post office has also been in those areas of the country where banking facilities were less available. Being directly linked to the central government, the post office has also been considered the safest option for investment. Also, there is a good return on investment in the post office.

Special Features of Post Office Term Deposit

Term deposits in the post office can be made for 1 year, 2 years, 3 years or 5 years. A minimum of Rs 1000 can be deposited in this, after which any amount can be deposited in multiples of Rs 100. There is no maximum deposit limit. At present, 5.5 percent interest is being given in the post office on term deposits from 1 year to 3 years. While depositing for 5 years will get 6.70 percent interest.

The special thing is that the amount deposited in the post office term deposit can also be withdrawn after 6 months if needed. But in that case, only the interest paid on the Post Office Savings Accounts (POSA) will be available on the deposited amount, which is currently 4 percent per annum. Tax exemption is also available under section 80C of Income Tax on making a term deposit for 5 years.

Fixed deposits of banks

You can also invest in fixed deposits of banks instead of post office. The rate of interest offered on FD of each bank is different. Usually, banks also levy a penalty for premature withdrawal of FD deposits, which usually ranges from 0.5 per cent to 1 per cent of the interest rate applicable on FDs. For your ease, here we are giving the current FD rates of some major banks. These rates are taken from the websites of these banks. For all banks, we have given here the interest rates applicable on deposits below Rs 2 crore.

SBI FD Rates

State Bank of India (SBI) is offering 5.60% interest on FDs ranging from 3 years to less than 5 years. In case of senior citizens, the interest rate is 6.10%.
State Bank of India (SBI) is giving 5.65% interest on FDs ranging from 5 years to 10 years. In case of senior citizens, the interest rate is 6.45%.

HDFC Bank FD Rates

HDFC Bank is giving 6.10% interest on FDs ranging from 3 years 1 day to 5 years. In case of senior citizens, this interest rate is 6.60%.
HDFC Bank is giving 5.75% interest on FDs ranging from 5 years 1 day to 10 years. In case of senior citizens, this interest rate is 6.50%.

ICICI Bank FD Rates

ICICI Bank is giving 6.10% interest on FDs ranging from 3 years 1 day to 5 years. In case of senior citizens, this interest rate is 6.60%.
ICICI Bank is giving 5.90% interest on FDs ranging from 5 years 1 day to 10 years. In case of senior citizens, this interest rate is 6.60%.

Axis Bank FD Rates

Axis Bank is offering 5.70% interest on FDs with tenures ranging from 3 years to less than 5 years. In case of senior citizens, the interest rate is 6.35%.
Axis Bank is giving 5.75% interest on FDs ranging from 5 years to 10 years. In case of senior citizens, the interest rate is 6.35%.

YES Bank FD Rates

Yes Bank is offering 6.75% interest on FDs ranging from 18 months to less than 3 years. In case of senior citizens, this interest rate is 7.25%.
Yes Bank is giving 6.75% interest on FDs ranging from 3 years to 10 years. In case of senior citizens, this interest rate is 7.50%.

It is clear from the above information that Axis Bank is currently paying the highest interest on FDs in these banks. But the investment decision in FD cannot be made on the basis of high returns only. Issues like the safety of investment to guarantee of returns are also very important. Post office term deposits and SBI FDs can be considered the safest as they are linked to the government. The safety of investments made in private sector banks depends on the financial strength of that bank. In such a situation, any investment decision should be taken keeping all the things in mind.

(The information given here is for the convenience of investors only. Rightsofemployees Online does not recommend investment in any instrument on its behalf. Please consult your investment advisor before taking any decision)

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FD Interest Rates: These banks are giving the highest interest on fixed deposits, see the full list here

Pravesh Maurya — Thu, 22 Sep 2022 08:29:11 +0000

Almost all banks have significantly changed their fixed deposit interest rates in the last few weeks after the Reserve Bank increased the repo rate by a total of 1.40 percent after its three monetary policy reviews. Is. As a result, fixed deposit investors can expect better returns going forward. Let us have a look at the banks which have increased the fixed deposit interest rates.

State Bank of India (SBI)

SBI is recognized as the largest lender bank of the country. SBI has increased the interest rates by up to 15 basis points (basis points, bps) on its select FD tenures (FD, fixed deposit tenures). According to the bank’s website, the new rates have become effective from August 13, 2022. At present, it has been implemented on FDs of less than Rs 2 crore.

what interest rate over what period

The interest rate on FD fixed deposit tenures of 180 to 210 days has been fixed by SBI at 4.55 percent. The interest rate has been increased from 5.30 percent to 5.45 percent for a period of one to two years. At the same time, the interest rate on loans of two to three years has been increased to 5.50 percent. The interest has been reduced to 5.60 per cent for three to five years. The bank will now offer an interest rate of 5.65 per cent for tenures ranging from 5 and 10 years.

HDFC bank

HDFC Bank has increased FD interest rates after a gap of two months. The bank has increased the FD rates by up to 40 basis points with effect from August 18, 2022. These rates will be applicable on deposits below Rs 2 crore. In a period of one year to two years, now instead of 5.35 percent, the interest rate will be 5.50 percent.

Kotak Mahindra Bank

Kotak Mahindra Bank has increased the interest rates on FDs by up to 15 basis points for one to three years (for amounts less than Rs 2 crore) with effect from August 17, 2022. The interest rate on FDs of 365 to 389 days has been increased by 15 basis points from 5.60 per cent to 5.75 per cent. The interest rates on FDs with maturities ranging from 390 days to three years have been increased by 15 basis points to 5.90 per cent from 5.75 per cent. Interest rates have not been raised for FDs with tenures of three to ten years; Interest will be available on this at the rate of 5.90 percent.

Axis Bank

Axis Bank has also increased the interest rates on limited tenure FDs of less than Rs 2 crore. The bank has reduced the interest rate for FDs of 17 to 18 months by 45 basis points from 5.60 percent to 6.05 percent. The interest rates are the same on other FD tenors as well.

ICICI Bank

ICICI Bank has increased the interest rates on select tenor FDs by up to 40 basis points for amounts below Rs 2 crore. The new rates have become effective from August 19, 2022. ICICI Bank will now offer interest rates ranging from 2.75 per cent to 6.10 per cent for tenures ranging from 7 days to 10 years.

Punjab National Bank

Punjab National Bank (PNB) has also increased interest rates on FDs below Rs 2 crore. The bank has increased the fixed deposit interest rates by up to 20 basis points. According to the PNB website, the new interest rates are effective from August 17, 2022. The bank has increased the interest rates by up to 20 basis points on fixed tenure FDs. The bank will now pay interest at the rate of 5.50 percent with an increase of 20 basis points on FDs maturing in one year.

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Fixed deposit interest: Highest interest available on FD of 3 to 5 years, check the full list of interest quickly

Pravesh Maurya — Thu, 22 Sep 2022 07:05:41 +0000

Fixed deposit interest rate: Everyone thinks of investing money to keep himself and his family safe. Well, there are many ways to invest money. But generally FD i.e. fixed deposit is considered the safest. One money is safe in FD and secondly, interest is also available in it. As you know, FDs are of different time periods and the interest on them is also different. Today we are going to give you complete information about this in this news.

In today’s time, customers are getting good returns on fixed deposit interest rate. Recently the repo rate has been increased by RBI. Since then, banks have also increased the interest rates of FDs. As the Reserve Bank (RBI) is increasing the repo rate, banks are also increasing the FD rate. It is a different matter that loan rates are also getting expensive. Let us tell you that there are some FD schemes which are getting interest up to 7.5 percent. Let us tell you the FD schemes of 10 banks and their interest rates.

Fincare Small Finance Bank is paying the highest interest

In the first place is Fincare Small Finance Bank. Which is giving 7.50 percent interest on FD of 3 to 5 years. In second place is Jana Small Finance Bank which is giving 7.35 percent interest. After this there is the name of Ujjivan Small Finance Bank which is giving 7.20 percent interest on FD of 3 to 5 years. After this the name comes, this bank of Deutsche Bank is giving 7 percent interest to its customers on FDs with maturity of 3-5 years.

Know the interest rates of banks on FD

At the same time, it belongs to Bandhan Bank, which is giving 7 percent interest on FDs of 3 to 5 years. After this, there is the name of AU Small Finance Bank, which is giving 6.90 percent interest to its customers on FDs maturing in 3-5 years.

Indusind Bank is giving interest at the rate of 6.75 percent to its customers. At the same time, Yes Bank is also giving interest on FD to the customers at the same rate. Suryoday Small Finance Bank is the name which is giving 6.75 percent interest on FD (fixed deposit interest) of 3 to 5 years. In the last 10th place is DCB Bank, which is giving 6.60 percent interest on fixed deposits.

Money can work in this way

Suppose if you have bought an FD for 2 years, then the interest earned every quarter will be added to the initial deposit amount. Then in the next quarter interest and interest will be added to the total amount of the deposit. So the interest will keep on increasing with the principal of the FD every quarter.

On the other hand, if you do not want to take FD for 3 to 5 years, then it does not matter. Short tenure FDs are also present in the market. There are FD schemes available from less than 1 year to 3 years. With this FD, you can easily meet your short term FD goals. If there is a big expenditure in two years, then such FD scheme can give you benefit. If you have set a long term goal, then a long term FD will come in handy. In this way you can get good returns from FD.

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SBI vs Post Office vs HDFC Bank: From Post Office to SBI and HDFC Bank, where will you get the highest interest on FD, check details

Pravesh Maurya — Sat, 03 Sep 2022 10:05:49 +0000

Bank Fixed Deposit Interest Rates: For safe investment, investing money in fixed deposits (FD) of banks or post office is a better option. On this investment, the account holder gets the benefit of predetermined interest from the bank or post office. It is not affected by market fluctuations. Fixed deposits earn more interest than normal savings bank accounts. But in this your money gets locked for a long time.

In FD, there is an option to withdraw money before maturity, but in doing so, some charges or interest has to be lost. Apart from this, deposit insurance guarantee is also given to investors on FDs up to 5 lakhs. Banks, Non-Banking Financial Companies (NBFCs) and Post Offices change the interest rates of their fixed deposits when the policy interest rates are changed by the Reserve Bank of India (RBI) from time to time.

Here we are giving information about the interest currently being given by SBI, HDFC Bank and Post Office on FD up to Rs 2 crore so that you can decide where to invest more beneficially.

SBI FD Interest Rates

After the increase in the repo rate by the RBI, the largest public sector bank SBI has increased the interest rate on its FDs. At present, interest from 2.9% to 5.65% is being given by SBI on FDs with tenor from 7 days to 10 years. The interest rate on FD for senior citizens ranges from 3.4% to 6.45%.

SBI has introduced a special tenor FD scheme, which will mature in 1000 days. Under this new FD scheme implemented from 15 August 2022, the bank is giving 6.10 percent interest. This scheme is available for 75 days from 15th August. The bank has also come up with a special plan for senior citizens in the name of SBI Wecare, in which an additional interest of 30 basis points is being given to senior citizens. SBI Wecare plan is for FDs maturing in 5 years or more.

HDFC Bank FD Interest Rates

HDFC Bank is offering 6.1% interest on FDs with tenures ranging from 3 years 1 day to 5 years. Whereas SBI is giving only 5.6% interest on FDs of the same duration. HDFC Bank is offering 0.5% additional interest to its senior citizen customers. The new interest rates of the bank are applicable from 18 August 2022.

Post Office FD Interest Rates

Post office FD is getting more interest as compared to SBI and HDFC Bank. If you invest in post office FD for 5 years, then you will get interest up to 6.7%. The post office is offering 5.5% interest rate on FDs with tenures ranging from 1 to 3 years.

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