Here are the fixed deposit rates of top banks including SBI, HDFC
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.
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% |
Source: Compiled by BankBazaar.com from the respective bank's website