Everyone wants to have a safe investment and maximum returns. For some time now, investors in the stock market were getting great returns. Now that the stock market has seen strong growth, investors are also looking for other options for investment. In such a situation, bank FD is also the safest and most secure for you. While doing FDs, investors aim to earn maximum interest and security. In different banks, the interest charged for different tenures is also different. Let’s know about the interest rate offered on FD by top banks.
SBI
6.5% interest is given by the State Bank of India (SBI) on FDs with a tenure of 5 years. At the same time, the interest rate on FDs with less than one-year duration is 6.8%. These rates have been implemented as of May 15, 2024.
ICICI Bank
ICICI Bank offers an interest of 7% on a 5-year FD. The bank pays an interest rate of 6.7% on FDs with a tenure of one year. These rates have been implemented by the bank from 17 February 2024.
HDFC Bank
HDFC Bank pays 7% interest on a five-year FD. But if you talk about FDs of one year or less, then it is 6.6%. These rates have been implemented from February 9, 2024.
Bank of Baroda
Bank of Baroda (BOB) is offering an interest rate of 6.50% per annum on a five-year FD. According to the interest rate implemented from 15 January 2024, one-year FD is getting an interest rate of 6.85 percent per annum.
Kotak Mahindra Bank
Kotak Mahindra Bank is offering an interest rate of 6.20% per annum on a five-year FD. At the same time, 7.10% annual interest is being paid by the bank on one-year FD. This interest rate has come into effect from February 27, 2024.
PNB
Punjab National Bank (PNB) is paying interest at 6.55 percent on fixed deposits (FDs) of up to 5 years. But this interest rate on one-year FD is 6.8%. These interest rates have been implemented as of April 12, 2024.
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