Public sector and private sector banks increased interest rates on Fixed Deposit Scheme. Banks are offering more interest on FD to senior citizens, due to which they have a great opportunity for investment.
Fixed Deposits: Investing your accumulated capital in Fixed Deposit (FD) is considered a very safe option. Almost all banks provide term deposits to their customers for a period of 7 days to 10 years. Due to the continuous increase in the repo rate for the last two years, many big private and government banks of the country have increased their FD rates. Let us know today who is paying the highest interest among State Bank of India, HDFC Bank, ICICI Bank, Axis Bank and Canara Bank.
Axis Bank
Axis Bank is giving 3.50% to 7.30% interest to its general customers for a period of 7 days to 10 years. On the other hand, the bank is giving 3.50% to 8.05% interest to its senior citizen customers for the same time period. These interest rates are applicable from 14 August.
Canara Bank
Canara Bank is giving 4% to 7.25% interest on FDs of 7 days to 10 years to its general customers. On the other hand, the bank is giving 4% to 7.75% interest to its senior citizen customers for the same period. These interest rates are applicable from August 12.
State Bank Of India
SBI is giving 3% to 7.01% interest on FDs of 7 days to 10 years to its general customers. On the other hand, the bank is giving an additional 50 basis points interest to its senior citizen customers for the same period. These interest rates of SBI are applicable from 15 February.
HDFC Bank
HDFC Bank is giving 3% to 7.25% interest to its customers on FDs of 7 days to 10 years. While the bank is giving 3.50% to 7.50% interest to its senior citizen customers for the same period. These interest rates of the bank are applicable from May 29.
ICICI Bank
ICICI Bank is giving 3% to 7.10% interest on FDs of 7 days to 10 years to its general customers. On the other hand, the bank is paying 3.50% to 7.60% interest to its senior citizen customers for the same period. These interest rates of the bank are applicable from 24 February.
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