In investment, the most common and popular investment among Indians is Fixed deposits. As it offers average returns as compared to the Stock Market or Mutual Funds but safety on investment and risk is very low in case of ‘Fixed Deposits’.
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Bank fixed deposits (FDs) offer guaranteed returns, where the rate of interest is fixed. The most important safety on fixed deposits is that when a bank fails to pay back the deposit, there is insurance coverage of up to Rs 5 lakh that the Deposit Insurance and Credit Guarantee Corporation Limited (DICGC) provides.
Many private banks like HDFC Bank, Axis Bank, ICICI Bank, Kotak Mahindra Bank, State Bank of India, Punjab National Bank, IDFC First Bank, Yes Bank, Punjab & Sind Bank, RBL Bank and DCB Bank offer good rates of returns on fixed deposits.
Investors can czech here monthly, quarterly rate of interest rates returns on their fixed deposits and take a decision to invest their funds in FD as per their convenience.
Here Is The List Of 13 Banks Offering Best Rate Of Returns On Fixed Deposits
HDFC Bank gives an interest rate of 7.25 per cent for 18 months and up to 21 months.
IndusInd Bank has come up with an interest rate of 7.75% for different periods like 1 Year to below 1 Year 6 Months, 1 Year 6 Months to below 1 Year 7 Months & 1 Year 7 Months up to 2 Years.
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IDFC First Bank offers an interest rate of 7.75% for deposits starting from 549 days to 2 years.
Yes Bank provides an interest rate of 7.75% for deposits starting from 18 months and they are less than 24 months.
RBL Bank provides an interest rate of 8.10% for deposits starting from 546 days to 24 months.
DCB Bank gives an interest rate of 8% for deposits startin from 25 months to 26 months.
Punjab National Bank provides an interest rate of 7.25% for deposits up to 400 days.
Bank of Baroda offers an interest rate of 7.25% for deposits above 2 years and up to 3 years.
Punjab and Sindh Bank offer an interest rate of 7.40 per cent for the period of 444 days.
Kotak Mahindra Bank provides interest rates starting from 2.75% to 7.40% for 390 days and less than 23 months.
ICICI Bank provides an interest rate of 7.20 per cent for 15 months and up to 18 months.
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Axis Bank provides an interest rate of 7.20 per cent for 17 months and 18 months.
SBI offers an interest rate of 7 percent for 2 years to less than 3 years.
