One can get higher returns in the stock market or mutual fund, but there is a possibility of sinking money here. Compared to the stock market or mutual funds, FDs have lower returns but there is no worry about sinking money here.
New Delhi: Everyone wants to make money with their money. At the same time, people still give a lot of importance to fixed deposits (FDs) to increase their money. Actually, a fixed deposit is considered safe without any risk and it also provides returns with guarantees. At the same time, the interest rate of fixed deposits also varies. For the past few years, the rate of interest on FD has come down. In such a situation, today we are going to tell you which bank is giving the highest interest on FD in today’s era.
One can get higher returns in the stock market or mutual fund, but there is a possibility of sinking money here. Compared to the stock market or mutual funds, FDs have lower returns but there is no worry about sinking money here. However, due to the duration of FD, the interest rate can be different in the same bank. Currently, there are many banks which are paying more interest on FD.
IDFC Bank is providing maximum interest in case of FD. IDFC Bank is providing minimum 2.75 percent and maximum 5.75 percent interest.
HDFC Bank is the largest private sector bank. HDFC Bank is offering interest on FDs from minimum 2.50 percent to maximum 5.50 percent.
Private sector bank ICICI Bank is also giving good interest on FD. Here a minimum interest of 5.50 per cent is being given from minimum 2.50 per cent.Axis Bank
Axis Bank is also a private sector bank and its interest rate on FDs is minimum 2.50 percent to maximum 5.50 percent.
Canara Bank is a public bank. Canara Bank is providing minimum 2.95 per cent and maximum 5.50 per cent interest on FD.