Fixed Deposits Interest Rate: SBI’s market share in FD among public sector banks is 36 percent. Among private sector banks, HDFC is the most preferred bank for investors to make FD.
Bank Fixed Deposits: After the increase in interest rates for more than a year, the inclination of investors towards FD has increased rapidly. But do you know in which banks investors like to deposit their money the most? According to RBI data for the financial year 2022, 7 public sector banks and 3 private sector banks have 76 percent of the total deposits. Investors prefer to invest in major public sector banks and private banks.
SBI’s market share is 36 percent
SBI is being preferred the most by customers for investment. 23 percent of FDs of different tenures are deposited in it. In the case of FD among public sector banks, SBI’s market share is 36 percent. Among private sector banks, HDFC is the most preferred bank for investors to make FD. It is the second bank with 8 percent of total bank deposits in FDs of different tenures. Its market share in the case of FD among private sector banks is 28 percent.
After SBI, investors preferred Canara Bank
Among public sector banks, after SBI, investors preferred to invest in Canara Bank and Union Bank of India. Both of them have 7 percent share of total bank deposits in all periods. Among public sector banks, the market share in FD of Canara and Union Bank of India is 12 percent and 11 percent respectively. After this, Bank of Baroda and Punjab National Bank both have 6 percent of total bank deposits across all periods.
Like to do FD in ICICI
After HDFC among public sector banks, investors preferred FD in ICICI Bank the most. In this, the market share among private banks in fixed deposits is 6 percent of total bank deposits in all periods and 19 percent. Axis Bank is at third place in the list of top 10 banks preferred by investors for FD. In this, the market share among private banks in fixed deposits is 5 percent and the market share among private banks in all periods is 5 percent.
The last two banks in the list of top 10 banks where investors prefer to invest in FD are Bank of India and Indian Bank. Both of them have 4 percent of total bank deposits across all periods. Both of them have 6 percent market share in fixed deposits in public sector banks.
