FD Rates: Three big banks of the country have increased the interest on FD recently. The repo rate has been increased by 250 basis points (bps) since last year but the rate has not been changed in the last 2 times. The ever-increasing interest rates have made the returns on Fixed Deposits very attractive
This is the reason why customers especially senior citizens are currently considering FD as the best investment option. Let us know how much interest the country’s three largest banks ICICI Bank, HDFC Bank, and State Bank of India (SBI) are paying on FD.
ICICI Bank FD Rates
ICICI Bank is the second largest private sector bank in the country. It is paying 3.00% and 7.10% annual interest on FD. The bank is also giving extra 0.50 per cent interest to senior citizens. The bank is giving them interest of 3.50% and 7.60%. The period of this scheme is from 7 days to 10 years.
HDFC Bank FD Rates
HDFC Bank is the largest private sector bank in the country. It is offering interest on fixed deposits ranging from 7 days to 10 years. The bank is paying an annual interest of 3% to 7.1%. The bank is also giving an extra 0.50 per cent interest to senior citizens. The bank is giving them interest of 3.50% and 7.60%. These interest rates are applicable from 21 February.
FD Rates of SBI
The country’s largest public sector bank State Bank of India (SBI) is offering FDs for periods ranging from 7 days to 10 years. SBI FD interest rates for general public 3.00% p.a. to 7.10% p.a. Interest rates of 3.50% to 7.60% for senior citizens are applicable from February 15.
