Fixed Deposit Interest Rates: Thinking of investing in fixed deposits? At present, the interest rates in several private banks are attractive. Check how much interest will be available in any period.
Fixed Deposit Interest Rates: The Reserve Bank has increased the repo rate by a total of 250 basis points in the last financial year. Due to this, interest rates on fixed deposits in banks have also increased. Naturally, most banks offer high interest rates these days. HDFC Bank , ICICI Bank , Yes Bank , Axis Bank and Kotak Mahindra Bank offer attractive interest rates for less than Rs 2 crore . It is mentioned below.
HDFC Bank
Offers an interest rate of 3 to 7.25 percent if you invest in this private bank for a period of seven days to ten years. If you invest for a period of four years seven months or 55 months, you will get maximum interest of 7.25 percent. This interest rate is applicable from May 29.
ICICI Bank
Private Bank offers interest ranging from 3 to 7.10 percent on investments for seven days to ten years. The maximum interest rate you will get is 7.10 percent for investment tenures ranging from 15 months to two years.
Axis Bank
Currently Axis Bank is offering interest rates ranging from 3.50 to 7.10 percent for Under 60s. For a tenure of 13-18 months you will get a maximum interest rate of 7.10 percent with this private bank. This new interest rate is applicable from May 18.
Yes Bank
Yes Bank offers higher interest rates compared to other banks. Under 60s here get interest ranging from 3.25 to 7.75 percent. This bank offers interest rates of up to 7.75 percent for terms as short as 18 months to 36 months. The bank has implemented the new rates from May 2.
Kotak Mahindra Bank
This bank offers 2.75 to 7.20 percent interest on investments for seven days to ten years. 7.20 percent interest rate is available on investments for tenure of 390 days to less than two years. Bank authorities have implemented this rate from May 11.
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