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FD Interest Rates: These 7 banks are giving huge interest on five-year FD, see the list here

FD Interest Rates: Many banks are giving good interest rates to investors on FD. Therefore, it is better to compare the interest rates of different banks before making a bank FD. Senior citizens get slightly higher interest than normal investors.

Fixed Deposits Interest Rates: People in the country like to invest their money in Fixed Deposits (FD). Fixed Deposits i.e. FD is seen as a safe investment option. Let us tell you that people who want to avoid the risk of the stock market and who want a fixed return, often invest their money in FD.

On the other hand, if we talk about the interest rate on FD, it varies on the basis of the time of FD. Many banks are giving good interest rates to investors on FD. Therefore, it is better to compare the interest rates of different banks before making a bank FD.

Compare interest rates before investing

When you open a fixed deposit (FD), it is important that you compare the interest rates offered by different banks. Although most banks offer the same interest rates, if one bank’s interest rate is 40-50 basis points higher than another, it can significantly increase your money. For example, if you open a two-year FD of ₹5 lakh and there is a difference of 0.50% in the interest rate, you can get an additional benefit of ₹5,000. And if you have taken your FD for five years, you can get an additional benefit of ₹12,500. Therefore, a slight difference in interest rates can help you grow your money.

These banks are giving this much interest rate

Let us tell you that HDFC Bank is giving 7 percent interest on 5-year fixed deposits from July 24 and 7.5 percent interest to senior citizens. ICICI Bank is also offering the same interest rates on 5-year deposits. Axis Bank is offering 7 percent interest to regular citizens and 7.75 percent to senior citizens on its 5-year deposits. Private bank Yes Bank is offering 7.25 percent interest to regular citizens and 8 percent interest to senior citizens when a 5-year fixed deposit is made.

Talking about State Bank of India (SBI), this bank is offering 6.5 percent interest to regular citizens and 7.5 percent interest to senior citizens on 5-year FDs. PNB (Punjab National Bank) is offering 6.5 percent interest to regular citizens and 7 percent interest to senior citizens on 5-year FDs from January 1, 2025. Bank of Baroda is also offering slightly higher interest rates. Bank of Baroda is offering 6.8 percent to general citizens and 7.4 percent to senior citizens. Let us tell you that these rates of the bank have come into effect from October 14, 2024.

Shyamu Maurya
Shyamu Maurya
Shyamu has done Degree in Fine Arts and has knowledge about bollywood industry. He started writing in 2018. Since then he has been associated with Informalnewz. In case of any complain or feedback, please contact me @informalnewz@gmail.com
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