FD interest rate up to 7.55%: Check banks offering best rates on 3-year fixed deposit; full list Before investing in fixed deposits, don't forget to compare interest rates, do extensive research, and assess the terms and circumstances
A fixed deposit is a type of financial instrument that banks and other financial organizations offer that allows a person to deposit a certain amount of money at a fixed interest rate for a predetermined duration of time. The bank holds the deposit for the predetermined period, which may be a few months or a number of years. The depositor receives interest on the principal amount throughout this time, and the deposited cash stays locked with the bank.#sr_widget.onDemand p, #stock_pro.onDemand p{font-size: 14px;line-height: 1.28;} .onDemand .live_stock{left:17px;padding:1px 3px 1px 5px;font-size:12px;font-weight:600;line-height:18px;top:9px} #sr_widget.onDemand .sr_desc{margin:0 auto 0;} #sr_widget.onDemand .sr_desc{color: #024d99;margin-top:10px;} #sr_widget.onDemand .crypto .live_stock .lb-icon{8px 6px 5px 3px !important} #sr_widget.crypto.onDemand a.text{border-bottom:1px solid #ccc;padding-bottom:5px;display:block;width:100%} #sr_widget.onDemand .sr_desc .text p, #stock_pro.onDemand .sr_desc .text p{font-size:12px;font-weight:400;}
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Before investing in a fixed deposit, first, compare the interest rates on fixed deposits provided by various banks and financial organizations. Higher interest rates could appear alluring, but it's also important to ensure the organization is trustworthy and has sound financial standing.
Take into account the deposit tenure that best suits your financial objectives. Read all terms and conditions pertaining to premature withdrawal. You can make better decisions if you are aware of the penalty or interest rate reduction for early withdrawal of fixed deposits in case of emergencies or unanticipated events.
Top 5-year FD rates for senior citizens : You can get interest up to 8% on these fixed deposits; check full list of banks
For novice investors, fixed deposits can be a great instrument since they provide security, consistency, and steady returns. Before investing in fixed deposits, don't forget to compare interest rates, do extensive research, and assess the terms and circumstances. Your financial journey might benefit greatly from fixed deposits if you plan ahead and have a long-term outlook.
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Latest FD interest rate on 3-year FDs for general citizens
DCB Bank is offering the best interest rate of 7.55% on its FDs maturing between 19 months to 20 months. SBM Bank India offers 7.3% on tenures of 18 months to less than 2 years 3 days. Bandhan Bank, IndusInd Bank, YES Bank are offering 7.25% interest rate on 3-year FDs.RBL Bank offers 7.5% interest on fixed deposits having a tenure of 500 days and Canara Bank offers 7.4% on FDs having tenure of 3 years to less than 5 years.
Bank Fixed Deposit RatesTenure3-year tenure (%)Axis Bank15 months to less than 2 years7.1Bandhan Bank1 year7.25DCB Bank19 months to 20 months7.55Federal Bank50 months ; 777 days 7.1HDFC Bank4 Year 7 Months (55 months)7ICICI Bank15 months to 2 years7IndusInd Bank1 year 5 months to less than 1 year 6 months7.25Karur Vysya Bank760 days - Special Deposit7Kotak Mahindra Bank390 Days to less than 23 months7RBL Bank500 days7.5SBM Bank IndiaAbove 18 months to less than 2 years 3 days7.3YES Bank18 months to less than 24 months7.25PUBLIC SECTOR BANKS Bank of Baroda400 days - Bob Utsav7.15Canara Bank3 years to less than 5 years7.4Punjab National Bank400 days7State Bank of India444 days - Amrit Vrishti6.75Source: paisabazaar.com as of December 18, 2024 #sr_widget.onDemand p, #stock_pro.onDemand p{font-size: 14px;line-height: 1.28;} .onDemand .live_stock{left:17px;padding:1px 3px 1px 5px;font-size:12px;font-weight:600;line-height:18px;top:9px} #sr_widget.onDemand .sr_desc{margin:0 auto 0;} #sr_widget.onDemand .sr_desc{color: #024d99;margin-top:10px;} #sr_widget.onDemand .crypto .live_stock .lb-icon{8px 6px 5px 3px !important} #sr_widget.crypto.onDemand a.text{border-bottom:1px solid #ccc;padding-bottom:5px;display:block;width:100%} #sr_widget.onDemand .sr_desc .text p, #stock_pro.onDemand .sr_desc .text p{font-size:12px;font-weight:400;}
This story originally appeared on: India Times - Author:Faqs of Insurances
