Best Banks Fixed Deposit: For 444 days to 15 months, 5 banks are giving the highest interest rate to their customers on FD investment scheme. Rules have been eased on premature withdrawal for senior citizens.
SBI has introduced Amrit Kalash, a special FD scheme to provide more benefits to its customers. The bank is giving the highest interest rate on this investment scheme. Apart from this, Canara Bank, HDFC Bank, Yes Bank and ICICI Bank have also offered higher interest rates to investors on FDs with tenure ranging from 444 days to 15 months.
SBI Amrit Kalash
SBI’s 400 days special FD Amrit Kalash is being given an interest rate of 7.10% to general investors. Whereas, senior citizens are eligible for an interest rate of 7.60% on investing in this scheme. According to SBI, investors can invest in Amrit Kalash scheme from 12 April 2023 to 30 June 2023.
HDFC Bank
HDFC Bank is offering an interest rate of 6.60% on FDs of tenure less than 1 year to 15 months. Whereas, for tenure less than 15 months to 18 months the bank has offered 7.10%. At the same time, it has been announced to give the highest interest rate of 7.25% on the tenure of 4 years, 7 months to 55 months.
ICICI Bank
ICICI Bank has offered 6.70% interest rate for FDs of less than 1 year to 15 months for general citizens. Whereas, for FDs of tenure less than 15 months to 2 years, it is giving the highest interest rate of 7.10%. These interest rates of the bank are applicable from 24 February 2023.
Canara Bank
Canara Bank is offering the highest interest rate of 7.25% for general citizens on tenure of 444 days. These interest rates are applicable from 5 April 2023.
Yes bank
Yes Bank is offering 7.50% interest rate to its customers on FDs of tenure less than 1 year to 18 months. This interest rate of the bank is effective from 2 May 2023.
Interest rates are higher for senior citizens
Investors should note that these interest rates on bank’s FD schemes are applicable for investment amount less than Rs 2 crore. Also note that these interest rates are applicable only for general citizens, senior citizens get 0.5% higher returns than other customers. Whereas, partial withdrawal or premature withdrawal rules differ from bank to bank.
