If you are planning to do FD in the bank, then these banks are giving better returns
Fixed Deposit: Fixed Deposit is considered to be the safest option for investment. Recently many banks have increased the rates of fixed deposits.
Fixed Deposit: If you have made a plan to do FD in the bank, then you can get good returns by doing FD in these banks. In which there is no risk of any kind and your money will be completely safe. Let us tell you that fixed deposits are considered to be the safest option for investment. Recently many banks have increased the rates of fixed deposits. In such a situation, the trend of many investors can move towards FD. As per RBI guidelines, there is also a deposit insurance guarantee on fixed deposits up to Rs 5 lakh. Here you are being told about the FD interest rates offered by State Bank of India (SBI), HDFC Bank and ICICI Bank for 1, 2, 3, 5 and 10 years. Where investing in these banks will be beneficial for you.
State Bank of India
SBI has changed interest rates by up to 0.8% for retail term deposits of less than Rs 2 crore with effect from October 22. SBI is now offering 5.5% interest on FDs on 1 year deposits. Also, the rate of interest is 6.1% for the tenure of 2 years and 6.25% for the tenure of 3 years. SBI FD interest rate for 5 and 10 year tenors is 6.1%. The bank also offers an additional 0.5% interest to senior citizens.
HDFC Bank has increased FD interest rates from October 11. For deposits below Rs 2 crore, HDFC Bank is offering 5.7% interest on 1st and 2nd year deposits. In addition, the bank offers 5.8% interest on 3 year deposits and 6.1% on 5 years deposits. HDFC Bank is offering 6% interest for 10 years FD. At the same time, senior citizens are getting 0.5% additional interest.
ICICI Bank has revised FD interest rates from October 18. For deposits below Rs 2 crore, ICICI Bank is offering 5% interest on 1 year deposits and 5.8% on 2 years FDs. The bank gives 6% interest on 3 year deposit and 6.2% interest on 5 year deposit. ICICI Bank is offering 6.1% interest for 10 years FD. ICICI Bank also offers an additional 0.5% interest to senior citizens.