Bank FD Rates: Bank fixed deposits are the most popular and preferred option of investment.
The returns from FDs in the bank are known only at the time of investment. FDs are also known as term deposits.
State Bank of India (SBI), Punjab National Bank (PNB) and Axis Bank (Axis Bank) revised their fixed deposit (FD) interest rates in January 2021. Bank fixed deposits are the most popular and preferred option of investment. The returns from FDs in the bank are known only at the time of investment. FDs are also known as term deposits. Explain that SBI had increased the FD interest rates last week. Axis Bank gives gifts to customers, FDs and RDs if they are prematurely closed, then you will not have to pay a fine
Interest rates on FD of SBI- SBI has increased the rates of Fixed Deposit (FD) of some selected maturity period. From 1 year to less than 2 years, the bank has increased the interest rates on FD by 10 basis points i.e. 0.10 percent. SBI’s revised rates are effective from 8 January 2021 on retail FDs of less than Rs 2 crore.
After the recent amendment, between 7 days and 45 days, SBI FD will now get 2.9 percent interest. The bank will pay 3.9 percent interest on FD between 46 days to 179 days. For 180 days less than 1 year FD will get 4.4 percent interest. 1 to 2 years FD will now give interest at the rate of 5 percent, which was earlier 4.9 percent. Will pay 5.1% interest on FD maturing in 2 years and less than 3 years.
Latest Interest Rates of SBI
7 days to 45 days – 2.9%
46 days to 179 days – 3.9%
180 days to 210 days – 4.4%
211 days to less than 1 year – 4.4%
1 year to less than 2 years – 5%
Less than 2 to 3 years – 5.1%
Less than 3 to 5 years – 5.3%
5 years and up to 10 years – 5.4%
How much interest is Axis Bank paying
Axis Bank offers FDs with varying tenures ranging from 7 days to 10 years. The bank has revised the interest rate on FD on 4 January 2021. For normal customers, the bank pays interest from 2.5% to 5.50% on FD. Axis Bank offers senior citizens a higher rate of interest at select maturity. The bank offers interest ranging from 2.50 per cent to 6 per cent to senior citizens.
PNB’s FD interest rates
Punjab National Bank is offering interest rates of 3% to 5.30% on fixed deposits of 7 days to 10 years. PNB is offering 3% interest rates on fixed deposits of 7-45 days and less than 1 year. The FD increases up to 4.5 percent. PNB pays 5.20 percent interest for a maturity period of one year to 3 years. PNB is paying 5.30 percent interest on deposits for maturity period of 5 years to 10 years.