Fixed deposits varying from seven days to 10 years are offered by various banks such as State Bank of India, Private Bank, HDFC, and Axis Bank. Before depositing your money into any of the bank accounts it is important that the various FD rates are compared first.
HDFC Bank pitches interest rate of 2.50 % for fixed deposits lying within seven to twenty-nine days, 3 percent on deposits developing between thirty to ninety days and the bank gives an interest rate of 4.4 percent towards the deposits which have a maturity of a year. For any day less than a year the bank offers an interest rate of 3.5 percent. Down payments evolving in one year and two years will give an interest rate of 4.9 percent respectively.
Axis Bank offers fixed deposits varying from seven days to ten years. The interest rates have been evolved by the bank as on January 4, 2021. For regular customers, the bank offers an interest rate between 2.5 to 5.50 percent while a higher interest rate is offered by the bank to senior citizens which nearly ranges between 2.5 to 6 percent.
Private Bank offers 2.5 percent interest rate on deposits evolving in seven days to twenty-nine days while the interest rate ranges between 3 to 3.5 percent for the maturities ranging between 90 to 184 days. Term deposits varying in one year to less than eighteen months will give you an interest rate of 4.9 percent. Senior citizens are subject to an interest rate between 3 to 6.3 percent for the fixed deposits ranging between seven days to ten years.
Punjab National Bank is giving an interest rate ranging between 3 to 5.30 percent for fixed deposits maturing between seven days to ten years. The senior citizens are eligible for an additional interest rate of 50 base points for all domestic deposit maturities of less than 2 crores.
