Here are the fixed deposit rates of top banks including SBI, HDFC

Updated: Wednesday, June 8, 2022, 16:38 [IST]

New Delhi, Jun 8: A fixed deposit (FD) is a financial instrument offered by banks which provides investors with a higher rate of interest than a regular savings account. It is the most-preferred investment instrument among the people in India as it gives consistent interest with no-market related risks attached to it.

Here are the fixed deposit rates of top banks including SBI, HDFC — Representational image

These investments are safer than Post Office Schemes as they are covered by the Deposit Insurance and Credit Guarantee Corporation (DICGC). However, DICGC guarantees an amount up to Rs 5,00,000 per depositor per bank.

The interest rate varies from bank to bank. As of now, IDFC bank is giving the highest interest rate (6.25 %) on your fixed deposit. It offers 6.75 % interest for the deposits made by senior citizens.
Check out the Fixed Deposit Interest Rates of Top 10 Banks:

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Name of Bank	General Citizens (p.a.)	Senior Citizens (p.a)
State Bank of India	2.90% to 5.50%	3.40% to 6.30%
HDFC Bank	2.50% to 5.60%	3.00% to 6.35%
IDBI Bank	2.70% to 5.60%	3.20% to 6.35%
Punjab National Bank	3.00% to 5.25%	3.50% to 5.75%
Canara Bank	2.90% to 5.75%	2.90% to 6.25%
Axis Bank	2.50% to 5.75%	2.50% to 6.50%
Bank of Baroda	2.80% to 5.35%	3.30% to 6.35%
IDFC Bank	2.50% to 6.25%	3.00% to 6.75%
Bank of India	2.85% to 5.20%	3.35% to 5.95%
Punjab and Sind Bank	3.00% to 5.40%	3.50% to 5.90%