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Top 10 Banks: Who is paying more interest on FD from top 10 banks including SBI, PNB, see here

Fixed deposits are a safe investment option that guarantees constant interest rates. Under this, senior citizens get the benefit of special interest rate. Explain that many banks, including State Bank, ICII Bank, Axis Bank, HDFC, are offering 7 to 7.5% interest on fixed deposits for deposits ranging from seven days to 10 years. The latest interest rates of top banks for tenure ranging from 7 days to 10 years are given below.



Fixed deposit interest rates of top 10 banks (on deposits below Rs 2 crore)

Name of bankOrdinary citizen (interest rate yearly)Senior Citizen (interest rate yearly)
SB I2.90% to 5.40%3.40% to 6.20%
ICICI2.50% to 5.50%3.00% to 6.30%
HDFC bank2.50% to 5.50%3.00% to 6.25%
PNB3.00% to 5.30%3.75% to 5.80%
Canara Bank2.95% to 5.50%2.95% to 6.00%
Axis Bank2.50% to 5.50%2.50% to 6.00%
Bank of baroda2.90% to 5.30%3.40% to 6.30%
IDFC Bank2.75% to 5.75%3.25% to 6.25%
Bank of india3.25% to 5.30%3.75% to 5.80%
Corporation Bank3.00% to 5.40%3.50% to 5.90%

 

Talking about other banks, IndusInd Bank is paying the highest interest on FD. IndusInd Bank is giving 7.00% per annum interest on fixed deposits for a period ranging from 7 days to 10 years for the general public. The bank is giving 7.50% to senior citizens.

This government bank gave a gift to customers! Now FD will get more profit

Rate of other banks

Name of bankOrdinary citizen (interest rate yearly)Senior Citizen (interest rate yearly)
Yes Bank4.00% to 6.50%4.50% to 7.00%
IndusInd Bank3.25% to 7.00%3.75% to 7.50%
Uco bank2.75% to 5.00%3.00% to 5.40%
United Bank of India4.00% to 6.50%4.50% to 7.00%
Union Bank of India3.00% to 5.60%3.50% to 6.10%
Allahabad Bank (now Indian Bank)2.90% to 5.15%3.40% to 5.65%
Central bank2.75% to 5.00%3.25% to 5.50%
Indian Bank2.90% to 5.15%3.40% to 5.65%
Indian Overseas Bank3.40% to 5.20%3.90% to 5.70%
Bandhan Bank3.00% to 6.00%3.50% to 6.75%
DBS Bank2.75% to 5.50%3.25% to 6.00%
Andhra Bank3.00% to 5.40%3.50% to 5.90%
HSBC2.25% to 4.00%2.75% to 4.50%

 

Keep in mind these four things in FD

  • Period of FD : Before investing in FD, it is very important to decide its duration. This is because if investors withdraw the amount before maturity, they have to pay the fine.
  • Interest Rate: While investing money in FD, it is very important to see the interest rate available on it. Banks offer different interest rates according to their own. Therefore, there is a difference in the interest rate on fixed deposits in different banks. These should be compared before investing in FD.
  • Tax exemption: Interest income on FD is taxed. If the interest earned on FD is above Rs 10,000 in a financial year, then TDS is deducted on that interest. At the same time, on five-year FD you get a rebate of 1.5 lakh under Section 80C.
  • Withdrawal of interest: In FD banks offer option to withdraw interest on quarterly and yearly basis. Now some banks are also offering monthly withdrawals.
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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