FD Rates: Due to the fluctuations in the stock market, now investors are getting more attracted towards fixed deposits (FD). FD gets interest rate fixed. After the scheduled time, the entire money is safe back. It is considered an excellent option of risk-free investment.
The highest interest rates received on FD of banks
General citizens are getting 7.25 per cent interest on HDFC Bank FD and 7.77 per cent for senior citizens. This FD is for a period of 18 to 21 months.
In ICICI Bank, normal customers are getting 7.25 per cent interest on FD of 15 to 18 months and senior citizens are getting 7.85 per cent interest.
Kotak Mahindra Bank is paying 7.4 per cent interest on 390-391 days FD, while senior citizens are getting 7.9 per cent interest.
Federal Bank is giving 7.5 per cent interest to ordinary citizens on 444 days FD and 8 per cent to senior citizens.
Bank of Baroda is paying 7.15 percent to normal customers on 2 to 3 years FD and 7.65 percent to senior citizens.
Union Bank of India is paying 7.3 per cent interest on 456 days FD, while senior citizens are getting 7.8 per cent interest.
Why invest in FD?
FD is a safe investment option. Here, a fixed interest rate gets good returns in the fixed time. There is a profit of higher interest rate for senior citizens. With this, he can get better returns on his savings. Apart from this, banks have FD schemes for different periods, so that investors can choose the correct option according to their needs. If you want safe and guaranteed returns, FD can be a good option.
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