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5 top banks offering better rates on retail FDs, know the names of banks

Know about 5 banks whose FD rates are the most excellent

FD is also considered a better option in terms of investment. It is also safe to invest in FD. It provides guaranteed returns. In this, investors in FD get better interest rate than saving account. The interest rates on FDs vary from bank to bank. Senior citizens get additional interest rate on FD (fixed deposits). In this, senior citizens get 0.5% additional interest rate than the general public. Below we are giving the names of banks which are providing better interest rates on FD.

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State Bank of India (SBI)

State Bank of India- SBI, the country’s largest bank, is getting 2.9% interest on FD for 7 to 45 days. At the same time, between 46 days to 179 days, 3.9 percent is offering interest. For 180 days less than 1 year, FD gets 4.4% interest. Similarly, the maturity period of 1 year to 2 years yields 4.9% interest and the maturity period of 2 years or less than 3 years yields 5.1% interest. For 3 years and below 5 years, the interest is 5.3%. SBI is offering 5.4% interest for 5 years to 10 years. SBI is also providing an additional interest rate of 50bps to senior citizens. In this way, senior citizens can get 6.2 percent interest rate for 7 days to 10 years.

Punjab National Bank

Punjab National Bank gets 3% interest on FD for 7 to 45 days. Currently, the bank is paying 4.5 percent interest for less than a year. PNB is paying 5.20% interest for 1 to 3 years. For 5 to 10 years, the bank is paying interest on 5.25% FD.

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Interest on FD in HDFC Bank is getting 2.50% interest for 7 to 29 days. For 30 to 90 days, 3% interest is being received on deposits. The bank is getting 3.5% interest for 91 months to 6 months maturity and 4.4 percent interest for 91 days to 6 months. 4.90 per cent for 1 year to 2 years, 5.15 per cent for 2 years to 3 years, 5.30 per cent for 3-5 years and 5.50 per cent interest on FD for 5 to 10 years.

Bank of baroda

Bank of Baroda is getting 2.80% interest on FD for 7 to 45 days. The bank is offering 3.70% interest for 46 to 180 days. For 181 to 270 days, the bank is paying 4.30 per cent more than 271 days and for less than 1 year, the bank is paying 4.40 per cent. The bank is paying 5% interest on the maturity period of 1 year. Interest is paying 5% for 1 year up to 2 years. For 2 years to 3 years, 5.10% for 3 to 10 years, 5.25% bank interest is being paid.

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Canara Bank

Canara Bank is getting 2.95% interest on FD for maturity between 7 and 45 days. The bank is offering 3.90% interest for 46 to 90 days. Similarly, interest is getting 4.45 per cent for less than 180 to 1 year. The bank is paying 5.25% interest on 1 year maturity. Above 1 year and less than 2 years, 5.20 percent and above 2 years and below 3 years are getting 5.40 percent interest. Above 3 years and for 10 years, the bank is offering 5.50% interest.   




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