Fixed Deposit Interest Rate: Know how much interest the country’s leading banks and small finance banks are offering on fixed deposits.
Fixed Deposit Interest Rate: After five years, the Reserve Bank of India (RBI) reduced the repo rate to 6.25 percent. This decision will affect the customers. On one hand, it is expected that after this decision, banks will reduce the loan rates, while on the other hand, it is also expected that banks can start reducing the rates on FD (Fixed Deposit Interest Rate) in line with the reduction in the benchmark lending rate by the central bank. Know what are the latest interest rates of FD.
Small finance banks are offering up to 9.42 per cent interest on fixed deposits to customers, especially senior citizens. Utkarsh Small Finance Bank is offering 9.42 per cent interest on its deposits for senior citizens maturing in 1500 days. Similarly, AU Small Finance Bank is offering 8.88 per cent interest to senior citizens on FDs maturing in 18 months.
See how much interest the country’s small finance banks are offering on FDs.
| Small Finance Bank | interest rate | Duration |
| AU Small Finance Bank | 8.88 percent | 18 months |
| ESAF Small Finance Bank | 8.88 percent | 888 days |
| Suryodaya Bank | 9.42 percent | 5 years |
| Utkarsh Small Finance Bank | 9.42 percent | 1500 days |
| Jana Small Finance Bank | 8.75 percent | 365 days |
FD rates of major banks of the country
| Bank | Interest Rates | Duration |
| HDFC Bank | 7.85 percent | 2 years 1 day to 2 years 100 months |
| ICICI Bank | 7.85 percent | 15 Months to 18 Months |
| Axis Bank | 7.60 percent | 2 years to 30 months |
| Bank Of Baroda | 7.65 percent | Above 2 years and upto 3 years |
| SBI | 7.50 percent | 5 years and up to 10 years |
It is known that Fixed Deposit (FD) is a good investment option. Investors who do not want to take risk prefer to invest their money in FD. You get guaranteed returns on this and it is also safe. Depending on the tenure of the fixed deposit i.e. for how long you are making the FD, banks usually offer interest rates between 3% to 8%.
