Bank of Baroda Fixed Deposit, whose tenure ranges from 7 days to 10 years. Let us know which bank is paying the highest interest on FD.
Most of the people prefer to get FD (Fixed Deposit) instead of keeping money in Savings Account. The biggest reason for this is that it is safe and least risky as compared to other schemes. One can also invest in it for short to long term. Let us know about such banks which are giving the highest interest on FD of 5 years.
Generally, all banks pay interest based on the FD amount and maturity period. Banks offer higher interest to senior citizens than others. Let us know about this in detail.
Know the interest rate on Bank FD
7 days to 14 days – 2.80
15 days to 45 days – 2.80
46 days to 90 days – 3.70
91 days to 180 days – 3.70
181 days to 270 days – 4.30
271 days and above and less than 1 year – 4.40 Above
1 year – 4.90 Above
1 year and up to 400 days – 5.00 Above
400 days and above 2 years – 5.00 Above
2 years and up to 3 years – 5.10 Above
3 years and up to 5 years – 5.25 Above
5 years Above and up to 10 years – 5.25
There are two types of FD
Generally there are two types of FD. The first is cumulative FD and the second is non-cumulative FD. Interest is paid on quarterly and yearly basis. However, you can also avail interest at regular intervals.
Keep these things in mind
Before making a fixed deposit in any bank, you should go to its nearest branch and get complete information. Every bank has different interest rates and different terms. The interest rate may change depending on the amount and timing of the FD. In such a situation, before investing, go to the bank and find out about everything.
