Best FD Rates: Are you thinking of opening a fixed deposit (FD) account in a bank? First of all, it is important that you compare the interest rates offered by different banks. However, there is not much difference in the interest rates of most banks, but a general rule is that the longer the period of FD, the higher the interest rate.
Best FD Rates: Are you thinking of opening a fixed deposit (FD) account in a bank? First of all, it is important that you compare the interest rates offered by different banks. However, there is not much difference in the interest rates of most banks, but a general rule is that the longer the period of FD, the higher the interest rate. Here we are telling you about the six banks which are giving the highest interest rates on five-year FDs.
State Bank of India (SBI):
SBI gives 6.5% interest to general citizens and 7.5% interest to senior citizens on its five-year FD. However, on 2-3 year FDs, common citizens get 7% and senior citizens get 7.5% interest rate.
Bank of Baroda (BOB):
Bank of Baroda gives 6.5% interest to common citizens and 7.15% interest to senior citizens on five-year FDs. At the same time, under the Monsoon Dhamaka scheme, common citizens get 7.25% and senior citizens get 7.75% interest on 399 days FD.
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HDFC Bank:
HDFC Bank gives 7% interest to common citizens and 7.5% interest to senior citizens on five-year FDs. At the same time, common citizens get 7.4% and senior citizens get 7.9% interest on 55 months FD.
ICICI Bank:
ICICI Bank gives 7% interest to common citizens and 7.5% interest to senior citizens on five-year FDs. Apart from this, 7.25% to 7.8% interest is available on mutual fund FDs of 15 to 18 months.
Kotak Mahindra Bank:
Kotak Mahindra Bank gives 6.2% interest to general citizens and 6.7% interest to senior citizens on five-year FDs. The highest interest rate of the bank is 7.4%, which is given on FDs of 390 days.
Punjab National Bank (PNB):
PNB gives 6.5% interest to general citizens and 7% interest to senior citizens on its five-year FDs. This bank also gives 7.25% interest on FDs of 400 days. All these banks are getting the highest interest rate on FDs of less than five years period. Therefore, if you are also planning to do FD, then definitely compare the interest rates of banks.
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