Before investing, you need to know which bank is offering better interest rate on FD to the customers. If you get FD in PNB, you will get interest at the rate of 5.20 percent to 6.20 percent.
Rate of interest on fixed deposits.
In order to secure his future, a person deposits a part of his earnings as savings and invests it somewhere. Most people invest their savings in fixed deposits (FD) in banks, which is considered a safe investment. But for this you need to know which bank is offering better interest rate on FD to the customers. Let us know how much interest the government and private banks are paying on FDs to their customers.
First of all, let’s talk about the two largest public sector banks in the country. If you get your FD done at State Bank of India (SBI), then interest is paid from 4.40% to 5.40%. At the same time, if you get FD in Punjab National Bank, then interest will be given at the rate of 5.20 percent to 6.20 percent. Interest will be given on FD in Canara Bank from 4.45 to 5.50 percent.
Interest rate in private banks
Talking about private bank, HDFC bank will get interest from 4.40 to 5.50 percent. Axis Bank can get interest of 5.15 percent. IDFC Bank can get interest from 4.30 to 5.75 per cent on FD.
Which bank is offering how much interest rate on FD
| Bank | 6 months to 1 year | 1 to 2 years | 2 to 3 years | 3 to 4 years | Over 5 years |
| State Bank of India | 4.40 percent | 5.00 percent | 5.10 percent | 5.30 percent | 5.40 percent |
| Canara Bank | 4.45 percent | 5.20 percent | 5.40 percent | 5.50 percent | 5.50 percent |
| Axis Bank | 4.15-4.40 percent | 5.10-5.25 percent | 5.40 percent | 5.40 percent | 5.75 percent |
| Union Bank of India | 4.30-4.50 percent | 5.25- 5. 30 percent | 5.30-5.50 percent | 5.50-5.55 Percent | 5.55-5.60 percent |
| IDFC Bank | 4.50– 5.25 percent | 5.75 – 6.0 Percent | 5.75 percent | 5.75 percent | 5.75 percent |
| Punjab National Bank | 5.90 percent | 6.15 percent | 6.60 percent | 6.70 percent | |
| HDFC bank | 4.40 percent | 4.90 percent | 5.15%5.15% | 5.30 percent | 5.50 percent |
Post office interest rate
FD can be done in the post office for 7 days to 5 years. In the post office, ordinary citizens are getting interest ranging from 5.50 per cent to 6.70 per cent.
Highest interest rate
Currently Jana Small Finance Bank is paying the highest interest on FD. In this, you can invest in FDs ranging from 7 days to 10 years. Here customers are getting interest at the rate of 2.50 per cent to 7.20 per cent. For senior citizens, it ranges from 3 per cent to 7.75 per cent.
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