FD Interest Rates– FD (Fixed Deposits) are financial instruments provide by banks or NBFCs that offer inverter better interest rates than the regular savings accounts, but only if they hold it for a certain maturity period.
Some banks also offer benefits such as loans against FD certificates, at competitive interest rates.
Although interest rates have been on a downward trajectory lately, some banks still offer attractive FD Interest rates.
What is FD(Fixed Deposit)?
In Fixed Deposits, you put money in a bank or a company for a fixed time. When its maturity becomes, you get money with interest. Fixed deposits are considered to be a very simple and safe means of investment, which are usually opted out by the retired people, as their risk capacity is low in risk taking. This is a good way of earning a fixed income for such people. In this, according to your convenience and need, you can take the interest together later and also take it every month.
Types of FD Interest Rates
Here is a List of Interest rates of some leading bank in India.
- SBI FD Interest Rates
- HDFC Bank FD Interest Rates
- PNB Bank FD Interest Rates
- Canara Bank FD Interest Rates
- Bank of Baroda FD Interest Rates
Read In Details
1. SBI FD Interest Rates
SBI (State Bank of India) offers FD’s between 7 days to 45 days given 2.9 percent . Term deposits between 46 days to 179 days will give 3.9 percent. FD’s of 180 days to less than one year will fetch 4.4 percent. Deposits with maturity between 1 year and up to 2 years will give 4.9 percent. FD’s with tenor 3 years to less than 5 years will now give 5.3 percent and those maturing in 5 years and up to 10 years will give 5.4 percent.
SBI offers senior citizen’s an additional 50 bps interest rate across all tenors. Senior citizens get 3.4 percent to 6.2 percent on FD’s maturing in 7 days to 10 years.
2. HDFC Bank FD Interest Rates
These interest rates are effective from 15 October 2020. Between 7 days and 29 years, 2.50 percent interest rate on deposit is offered by HDFC Bank. 3 percent are offered on deposits maturing in 30-90 days. on 91 days to 6 months, 3.5 percent and on 6 months 1 day to less than one years, 4.4 percent. 4.9 percent on FD’s maturing in one year. HDFC Bank gives 5 percent on deposits maturing in two years.
FD’s maturing in 2 years to 3 years will give 5.15 percent, 3 year to 5 years will give 5.30 percent. Deposits with maturity period 5 years to 10 years will give 5.50 percent interest.
3. PNB Bank FD Interest Rates
PNB(Punjab National Bank) these rates are with effect from 1 October 2020. On fix deposits maturing in the range of 7 days to 10 years, PNB is offering an interest rate ranging between 3 percent and 5.25 percent. On 7-45 days fixed deposits. PNB is offering an interest rate of 3 percent and it goes up 4.5 percent on less than 1 year FD’s.
PNB gives 5.20 percent interest on term deposits maturing in one year to up-to 3 years. On deposits maturing above 5 years to 10 years, PNB is offering 5.25 percent interest.
4. Canara Bank FD Interest Rates
These rates are also effective from 1 October 2020. Canara bank offering 3 percent interest rate for term deposit with maturity period 7-45 days. For FD’s with maturity period 46-90 days, 91 days to 179 days and 180 days to less than 1 year, the bank give 4, 4.05 and 4.50 percent interest rates respectively.
Canara Bank gives 5.25 percent for FD’s maturing in one year to less than three years. The state owned bank gives 5.35 percent interest rate FD’s with three to ten years tenure.
5. Bank of Baroda FD Interest Rates
There rates are with effect from 3 October 2020. 2.9 percent interest on deposits with maturities 7 days to 45 days by Bank of Baroda. Bank of Baroda offers an interest rate 3.9 percent for FD’s maturing in 46 days to 180 days. The bank give 4.4 percent interest for short-term deposits with maturity period 181 days and above and less than 1 year.
Bank of Baroda gives 4.9 percent interest for 1 year term deposits. 5.1 percent are offered for maturities above 1 year and up-to 3 years. 3 years and 10 years maturities will fetch an interest rate of 5.3 percent.