Fixed Deposits Interest Rates: Investing in FDs under the debt category, whether you are a general or a senior citizen, is a must. Because here you get the return at the fixed rate of interest during the chosen maturity period. In FD, you get the facility to invest with maturity ranging from 7 days to 10 years. This allows you to meet various different investment objectives. On the other hand, in FD your money is safe, as your deposits up to Rs 5 lakh are insured by DICGC. Despite the fact that fixed deposit interest rates are falling (as many RBIs have kept the repo rate constant at 4%) here we will give you a list of banks which are still giving good returns on FDs. These interest rates are for amounts less than Rs 2 crore and tenure of 3-5 years.
Public sector bank
Union Bank of India is offering 5.40% interest rate to general citizens and 5.90% to senior citizens on FDs of 3-5 years. Similarly, SBI is getting 5.30% interest for general citizens and 5.80% for senior citizens. The interest rates for this period in Punjab & Sind Bank are 5.30% and 5.80%.
PNB and Indian Overseas Bank
In PNB, general citizens are getting 5.25% and senior citizens are getting 5.75% interest. The interest rates at Indian Overseas Bank for this period are 5.25% and 5.75%.
Private bank
In RBL Bank, 6.30% interest rate is being offered to general citizens and 6.80% to senior citizens on FD of 3-5 years. General citizens are getting 6.25% interest and senior citizens are getting 6.75% interest in Yes Bank. IndusInd Bank interest rates for this period are 6.00% and 6.50%.
Know the interest rates of some other banks
General citizens are getting 5.95% and senior citizens are getting 6.45% interest in DCB Bank. The interest rates at Axis Bank for this period are 5.40% and 6.05%.
Small finance bank
These interest rates in Jana Small Finance Bank are 6.75% and 7.25%. On the other hand, Suryoday Small Finance Bank is offering an interest rate of 6.50% to 6.75% for general citizens and 6.50% to 7.00% for senior citizens on FD of 3-5 years. The interest rates at North East Small Finance Bank are 6.50% and 7.00%. If a senior citizen makes an FD of Rs 10 lakh in North East Small Finance Bank simultaneously for 3 years, then he will get interest of more than Rs 2.40 lakh on maturity. In this way, his total maturity amount will be more than Rs 12.40 lakh.
Know the interest rates of other small finance banks
The interest rates at Fincare Small Finance Bank range from 6.50% to 6.25% and from 7.00% to 6.75%. On the other hand, Suryoday Small Finance Bank is offering an interest rate of 6.25% for general citizens and 6.75% for senior citizens on FD of 3-5 years.
