Many banks have increased their interest in FD. Here’s which bank is giving you the highest interest rate on FDs.
After the increase in the repo rate of the Reserve Bank, many banks have increased the interest rate on loans as well as fixed deposits. Just a few days ago SBI has also revised the interest rate of its FD and now Punjab National Bank (PNB) has also increased the interest rate of its FD. PNB has increased the rate by 20 bps, which is applicable on FDs below Rs 2 crore and is effective from August 17.
Punjab National Bank is now paying how much interest on FD
After the increase of 20 bps, PNB is giving 5.50 percent interest to the customers on one year FD. On the other hand, on fixed deposits of more than 1 year and up to 2 years, PNB has increased by 15 points, now offering an interest rate of 5.45% to 5.50%. 5.60 percent interest will be given on investment for more than two years and up to three years. At the same time, 5.75 percent interest will be given on investment for five years and 5.60 percent on investment for 10 years.
Which bank is giving more returns among SBI, HDFC, and ICICI
After increasing the central bank’s repo rate, the top banks of the country have increased the interest of their FDs. According to a report by ET, many banks are offering 7-7.5% interest to the people. Here is a comparison of SBI, HDFC, and ICICI FD interest rates, so that you can know which bank is offering you higher interest on FD investment.
How much interest is paying on SBI Bank FD?
State Bank increased the interest rates of its FDs on August 13, according to which it is paying 4.45 percent interest for 180 days to 210 days. At the same time, from one year to less than 2 years, it is offering 5.45 percent interest with 15 point increase. Apart from this, 5.50 percent is charged on fixed deposits of more than 2 years and less than 3 years. At the same time, 5.60 percent interest is given on fixed deposits of more than 3 years and less than 5 years, and 5.65 percent on investment for 10 years. For senior citizens, interest ranges from 3.40 percent to 6.45 percent.
Interest Rate on HDFC Bank FDs
Talking about HDFC Bank, its FD interest was increased on June 17. According to the website, the interest rate of 2.75 percent is being given on FDs of 7 to 29 days, 3.25 interest rate on FDs of 30 to 90 days, and 3.75 percent interest rate on FDs of 91 to 6 months. Apart from this, an interest rate of 5.35 percent is being given on investments from 1 year to less than 2 years. At the same time, an FD interest rate of 5.50 percent is being given on investment from 2 years one day to 3 years. At the same time, the interest rate of 5.70 percent is given on fixed deposits of 3 years to 5 years.
How much interest is ICICI Bank paying on FD?
ICICI Bank increased its FD interest rate on June 22. According to the website, 4.65 percent interest is given on FDs of 185 to less than 1 year. Interest is paid on deposits of 5.35 percent for two years, 5.50 percent on FDs for three years, and 5.70 percent on deposits of five years. At the same time, the bank pays 5.75 percent interest to the customers on a fixed deposit of 10 years.