FD Rates : Due to fluctuations in the stock market, investors are now getting more attracted towards fixed deposits (FD). FD offers a fixed interest rate. After a fixed time, the entire money is returned safely. It is considered an excellent option for risk-free investment.
Highest interest rates on FDs of banks
HDFC Bank FDs offer 7.25% interest to general citizens and 7.77% interest to senior citizens. This FD is for a period of 18 to 21 months.
In ICICI Bank, general customers are getting 7.25 percent interest and senior citizens are getting 7.85 percent interest on 15 to 18 months FD.
Kotak Mahindra Bank is offering 7.4 per cent interest on 390-391 days FD, while senior citizens are getting 7.9 per cent interest.
Federal Bank is offering 7.5% interest rate to general citizens and 8% interest rate to senior citizens on 444 days FD.
Bank of Baroda is offering 7.15 per cent interest to general customers and 7.65 per cent interest to senior citizens on 2 to 3 year FDs.
Union Bank of India is offering 7.3 per cent interest on 456 days FD, while senior citizens are getting 7.8 per cent interest.
Why invest in FD?
FD is a safe investment option. Here you get good returns in a fixed time at a fixed interest rate. Senior citizens have the advantage of higher interest rates. With this, they can get better returns on their savings. Apart from this, banks have FD schemes for different periods, so that investors can choose the right option according to their needs. If you want safe and guaranteed returns, then FD can be a good option.
