FD Interest Rates: Fixed income avenues have emerged as attractive investment options even though the country’s interest rates are currently high. Among them, everyone has an idea of what to invest in such schemes as Senior Citizen Savings Schemes, PPF, National Savings Certificates, Bank Fixed Deposits and other such fixed deposits.
In terms of interest rates, the Senior Citizen Savings Scheme offers an annual interest rate of 8.2 percent. Bank FDs offer up to 7.75 percent. And offers an annual interest rate of up to 7.5 percent on post office time deposits. PPF offers an interest rate of 7.1 percent.
HDFC Bank FD Rates 2023
Among major banks, HDFC Bank offers FD interest rates up to 7.75 percent depending on the age of the depositor and length of deposit.
PNB Bank FD Rates 2023
PNB offers up to 7.75 percent per annum.
SBI FD rates 2023
Whereas SBI offers up to 7.50 percent.
Interest on small savings schemes currently ranges from 4 per cent for Post Office Savings Deposits to 8.2 per cent for Senior Citizens Savings Scheme.
Later this month, on September 29 or 30, the government will update interest rates for the months of October to December 2023.
Small Savings Schemes: Rate of Interest
Investors can easily avail 4 percent interest rate on savings deposits. If you choose to invest in 1 year Post Office Time Deposits, you will earn 6.9 percent, 7 percent in 2 and 3 years and 7.5 percent in 5 years. An aspirant can earn 6.5 percent on 5-year recurring deposits.
The interest rate one can earn by investing in National Savings Certificates (NSC) is 7.7 percent. Similarly, investors of Kisan Vikas Patra can avail interest rate of 7.5 percent. One can earn 7.1 percent rate by investing in public provident fund. If you invest in Sukanya Samriti account, you will get 8 percent return. The Monthly Income Scheme (MIS) offers its investors an interest rate of 7.4 percent.
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