The bullish market is witnessing a decline. Now people are thinking of withdrawing money from the market and investing it in some safe investment option. Now the question arising here is, what are those safe options? So there are many answers to this. One of which is named Fixed Deposit. Today we are going to tell you about this only. We will compare and tell you how much interest private banks are offering on FD as compared to government banks.
Generally banks offer higher interest rates on longer tenures. If you do FD for a short period then you do not get the benefit of high interest.
FD rates of private banks
India’s largest private bank is HDFC, which is offering FD interest rates between 6.60-7.00 percent for all its customers and 7.10-7.50 percent for senior citizens. This category includes fixed deposits for tenures ranging from less than two years to more than four years.
Meanwhile, ICICI Bank is offering interest at the rate of 7.25-7.00 percent for general customers and 7.50-7.80 percent for senior citizens for the same tenure.
FD rates of public sector banks
SBI, the largest bank among government banks, offers short to long term FDs at the rate of 3.50-6.50 percent for general customers and 4.00-7.50 percent for senior citizens. This category includes fixed deposits of less than two years and more than four years.
Apart from this, Canara Bank is offering interest at the rate of 6.25-6.70 percent for general customers and 6.40-6.87 percent for senior citizens, while Bank of Baroda is offering interest at 6.50-7.15 percent for general customers and 7.00-7.50 percent for senior citizens. percent, and BOI is offering interest at 6.00-7.30 percent for general customers and It is offering interest at the rate of 6.75-7.75 percent for senior citizens.
