Fixed deposit (FD), also referred as ‘time deposit’ or ‘term deposit’, has remained one of the most preferred investment options in India for years.
Known for their stability, an FD allows depositors to park their money for a fixed period and earn assured returns through fixed interest payments during the investment period or at maturity.
FDs offer income certainty and capital protection, making them particularly popular among first-time and conservative investors.Interest rates on FDs are influenced by factors such as the Reserve Bank of India ’s (RBI) monetary policy, prevailing economic conditions and inflation trends.Even a small difference in interest rates can significantly impact overall returns, especially for long-term investments.Comparing FD rates across banks is crucial before investing.
Read the article below to know the interest rates offered by different banks to maximise your income.The following banks are currently offering these FD rates:SBI offers 6.45% per annum to general citizens and 7.05% per annum to senior citizens.As for Bank of Baroda, it offers 6.45% per annum to general citizens and 7% per annum to senior citizens.It offers 6.6% per annum to general citizens and 7.1% per annum to senior citizens.BoI offers 6.6% per annum to general citizens and 7.1% per annum to senior citizens.General citizens get 6.5% per annum interest, while 7% per annum is offered to senior citizens.The bank offers 6.50% per annum to general citizens and 7% per annum to senior citizens.It offers 6.6% per annum to general citizens and 7.1% per annum to senior citizens.For general citizens, the interest rate is 6.45% per annum and 7.20% per annum to senior citizens.This private sector bank offers 6.8% per annum to general citizens and 7.3% per annum to senior citizens.As for Yes Bank, it offers 7% per annum to general citizens and 7.75% per annum to senior citizens.It offers 7.25% per annum to general citizens and 7.75% per annum to senior citizens, among the highest rates in the private banking segment.IDFC offers 7.25% per annum to general citizens and 7.5% per annum to senior citizens.Coming to IndusInd, it offers 7% per annum to general citizens and 7.75% per annum to senior citizens.offers 7.2 % per annum to general citizens and 7.70% per annum to senior citizens.
Fixed deposit (FD), also referred as ‘time deposit’ or ‘term deposit’, has remained one of the most preferred investment options in India for years. Known for their stability, an FD allows depositors to park their money for a fixed period and earn assured returns through fixed interest payments during the investment period or at maturity. FDs offer income certainty and capital protection, making them particularly popular among first-time and conservative investors.Interest rates on FDs are influenced by factors such as the Reserve Bank of India ’s (RBI) monetary policy, prevailing economic conditions and inflation trends.Even a small difference in interest rates can significantly impact overall returns, especially for long-term investments.Comparing FD rates across banks is crucial before investing. Read the article below to know the interest rates offered by different banks to maximise your income.The following banks are currently offering these FD rates:SBI offers 6.45% per annum to general citizens and 7.05% per annum to senior citizens.As for Bank of Baroda, it offers 6.45% per annum to general citizens and 7% per annum to senior citizens.It offers 6.6% per annum to general citizens and 7.1% per annum to senior citizens.BoI offers 6.6% per annum to general citizens and 7.1% per annum to senior citizens.General citizens get 6.5% per annum interest, while 7% per annum is offered to senior citizens.The bank offers 6.50% per annum to general citizens and 7% per annum to senior citizens.It offers 6.6% per annum to general citizens and 7.1% per annum to senior citizens.For general citizens, the interest rate is 6.45% per annum and 7.20% per annum to senior citizens.This private sector bank offers 6.8% per annum to general citizens and 7.3% per annum to senior citizens.As for Yes Bank, it offers 7% per annum to general citizens and 7.75% per annum to senior citizens.It offers 7.25% per annum to general citizens and 7.75% per annum to senior citizens, among the highest rates in the private banking segment.IDFC offers 7.25% per annum to general citizens and 7.5% per annum to senior citizens.Coming to IndusInd, it offers 7% per annum to general citizens and 7.75% per annum to senior citizens.offers 7.2 % per annum to general citizens and 7.70% per annum to senior citizens.
