Major banks of the country like State Bank of India (SBI), ICICI Bank, HDFC Bank and Axis Bank are offering FD for 7 days to 10 years.
FD is considered a good option. By investing money in FD, you only make savings, along with that you also get returns in the form of interest. The interest paid on FD is higher than the interest on Savings Account. In general, people consider it more right to fix their earnings rather than investing in the stock market and mutual funds. One, the risk is very low in this and second is that to put money in it, even if there is no knowledge of financial matters, work is done.
Major banks of the country like State Bank of India (SBI), ICICI Bank, HDFC Bank and Axis Bank are offering FD for 7 days to 10 years. The interest rates of these banks vary. If you are also planning to make a fixed deposit, then you must know the interest rate of your favorite banks.
State Bank of India (SBI)
| Maturity period | Interest rate |
| 180 days – less than 1 year | 4.4% |
| 1 year – less than 2 years | 5% |
| 2 years – less than 3 years | 5.1% |
| 3 years – less than 5 years | 5.3% |
| 5 years – up to 10 years | 5.4% |
Axis Bank
| Maturity period | Interest rate |
| 6 months – 11 months 25 days | 4.4% |
| 11 months 25 days – 1 year 5 months | 5.15% |
| 1 year 5 months – 18 months | 5.1% |
ICICI Bank
| Maturity period | Interest rate |
| 185 days – less than 1 year | 4.4% |
| 2 years 1 day – 3 years | 5.15% |
| 3 years 1 day – 5 years | 5.35% |
| 5 years 1 day – 10 years | 5.5% |
HDFC Bank
| Maturity period | Interest rate |
| 6 months 1 day to 1 year | 4.4% |
| 2 years 1 day to 3 years | 5.15% |
| 3 years 1 day to 5 years | 5.3% |
| 5 years 1 day to 10 years | 5.5% |
