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Start Retail Fixed Deposits in new year, these 5 banks will get highest interest

Fixed Deposits Interest rates: Investors in FD get better interest rate than saving account. The interest rates on FDs vary from bank to bank.




Investors who do not want to take the risk, prefer to invest in Fixed deposit. According to experts, getting FD is more beneficial and safer. Facilities are also more on getting FD. There is a government guarantee on fixed deposits. Fixed deposit interest rates are payable on an annual basis. But, how to calculate FD interest rate is done on quarterly basis. Investors in FD get better interest rate than saving account. The interest rates on FD vary from bank to bank. Senior citizens get higher interest on FD (fixed deposits). Senior citizens get 0.5% extra interest as compared to general public. Let us know which banks are getting the highest interest.

Also Read: How Late Filing Of ITR Will Charge You Double Late Fee?

State Bank of India (SBI) 

  • There is a 2.9 percent interest on FD for 7 to 45 days.
  • There is a 3.9 per cent interest between 46 days to 179 days.
  • For 180 days to 1 year, FD gets 4.4 percent interest.
  • The maturity period of 1 year to 2 years yields 4.9% interest.
  • In the maturity period of 2 years or less than 3 years, 5.1 percent interest is available.
  • For 3 years and less than 5 years, 5.3 percent interest is available.
  • SBI is giving 5.4 percent interest for 5 years to 10 years.
  • SBI pays 50 bps additional interest to senior citizens.
  • Senior citizens get 6.2 percent interest for 7 days to 10 years.

Punjab National Bank

  • For 7 to 45 days, 3 percent interest is available.
  • Interest is paying 4.5 percent for less than one year.
  • PNB is paying 5.20 percent interest for 1 to 3 years.
  • For 5 to 10 years, the bank is paying interest on 5.25 percent FD.

HDFC Bank

  • 2.50 percent interest is being received for 7 to 29 days.
  • For 30 to 90 days, 3 percent interest is being received on the deposit.
  • The bank is 3.5 percent on maturity of 91 days to 6 months and 4.4 percent for 91 days to 6 months.
  • 4.90% for 1 year to 2 years
  • 5.15% for 2 years to 3 years
  • 5.30 per cent for 3-5 years
  • There is 5.50 percent interest on bank FDs for 5 to 10 years.

Bank of Baroda

  • There is a 2.80 per cent interest on FD for 7 to 45 days.
  • The interest is 3.70 per cent for 46 to 180 days.
  • 4.30 per cent for 181 to 270 days.
  • There is 4.40 per cent interest for more than 271 days and less than 1 year.
  • The bank is paying 5 percent interest on 1 year maturity.
  • There is 5 per cent interest for 1 year to 2 years.
  • For 2 years to 3 years, there is 5.10 per cent interest.
  • For 3 to 10 years, interest is getting 5.25 percent.

Canara Bank

  • There is a 2.95 per cent interest on maturity of 7 to 45 days.
  • There is a 3.90 per cent interest on FD for 46 to 90 days.
  • The interest is 4.45 per cent for less than 180 to 1 year.
  • The bank has a 5.25 percent interest on 1-year maturity.
  • Above 1 year and for less than 2 years is 5.20 per cent.
  • Above 2 years and below 3 years, there is 5.40 per cent interest.
  • Above 3 years and for 10 years, 5.50 percent interest.
Parvesh Maurya
Parvesh Maurya
Parvesh Maurya, has 5 years of experience in writing Finance Content, Entertainment news, Cricket and more. He has done BA in English. He loves to Play Sports and read books in free time. In case of any complain or feedback, please contact me @ informalnewz@gmail.com
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