Bank Fixed Deposit Rates 2024: Fixed deposits (FDs), also called time or term deposits, are a popular investment choice because they are low-risk. With FDs, you can safely invest extra money for a set period and earn fixed interest, either regularly or when the deposit matures.
Banks usually offer interest rates between 3% and 7.50%, depending on how long you invest. Senior citizens often get an extra 0.5% interest rate.
It’s important to compare the interest rates of different banks before deciding where to invest. In this article, we’ll look at the interest rates offered by four banks for FDs.
State Bank of India (Rates on deposits of less than Rs 2 Crores)
SBI FD Rates: If you invest in Fixed Deposits (FDs) with the State Bank of India, you can expect interest rates between 3% and 7%. Senior citizens receive an extra 0.50%. The bank offers a 6.80% interest rate for FDs maturing in one year and a 7% rate for tenures ranging from two years to just under three years.
Punjab National Bank (Rates on deposits of less than Rs 2 Crores)
PNB FD Rates: Punjab National Bank offers fixed deposit interest rates ranging from 3.50% to 7.50%. For one-year fixed deposits, regular investors earn 6.75%, while senior citizens enjoy a higher rate of 7.25%.
ICICI Bank (Rates on deposits of less than Rs 5 Crores)
ICICI Bank FD Rates: ICICI Bank offers interest rates between 3% and 7.50% on its fixed deposit schemes. Senior citizens receive an additional 0.5%, bringing their rates from 3.50% to 7.50% across various tenures, from 7 days to 10 years. For one-year fixed deposits, general customers are offered an interest rate of 6.70%.
HDFC Bank (Rates on deposits of less than Rs 2 Crores)
HDFC Bank FD Rates: HDFC Bank offers competitive interest rates for one-year fixed deposits, with regular investors earning 6.60% and senior citizens getting a higher rate of 7.10%. The bank also provides interest rates ranging from 3% to 7.75% for general customers, depending on the maturity period.
Comments
0 comment