Fixed Deposits Interest Rates- Fixed Deposits i.e. FD is a popular investment option. FD account can be opened for a period of 7 days to 10 years. The interest rate on FD varies depending on the period.
Also, there can be a difference in the interest rates of banks. Therefore, it is better to compare the interest rates of different banks before making a bank FD.
Today we will tell you about those banks of the country which give the highest interest on FDs of five years duration. State Bank of India, Bank of Baroda, HDFC Bank, ICICI Bank, Kotak Mahindra Bank and Punjab National Bank give high interest rates on 5-year FDs. Let us know what their interest rates are..
State Bank of India (SBI): SBI offers 6.5 per cent interest to general citizens and 7.5 per cent to senior citizens on its 5-year FDs. However, the country’s largest lender offers the highest interest rate of 7 per cent on 2-3 year FDs.
Bank of Baroda (BOB): This government bank gives 6.5 percent annual interest to general citizens and 7.15 percent to senior citizens on 5-year FD. In Bank of Baroda’s special FD scheme, Monsoon Dhamaka, general customers get the highest interest of 7.25 percent. The duration of this FD is 399 days.
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HDFC Bank: The country’s largest private bank gives 7 percent interest to general citizens and 7.5 percent annual interest to senior citizens on its 5-year FD. At the same time, the bank gives the highest interest of 7.4 percent to customers on 55 months FD.
ICICI Bank: ICICI Bank gives 7% interest to general citizens and 7.5% interest to senior citizens on 5-year fixed deposits. As far as the highest interest paying FD of the bank is concerned, the bank gives the highest interest of 7.25% on FDs of 15 to 18 months.
Kotak Mahindra Bank: The bank gives 6.2 percent and 6.7 percent interest to general and senior citizens respectively on five-year FDs. Kotak Mahindra Bank gives the highest interest rate of 7.4 percent to its customers on FDs of 390 days.
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