New Delhi: Bank fixed deposits (FDs) continue to be popular investment products among people who are looking for guaranteed income. The TDs limit on bank FDs and Post office deposits was raised to 40,000 from the current 10,000 in interim budget 2019.

Top lenders like State Bank of India (SBI), Bank of Baroda, ICICI Bank, HDFC Bank and others offer FDs starting from 7 days up to 10 years. Generally, interest rates on FDs are higher than the interest rate on savings accounts.

Here is a list of banks that offer the highest FD rates over various tenures:

FD interest rates of Bank of Baroda

Bank of Baroda (BoB) offers several fixed deposit schemes to choose from (short-term or long-term). For FDs with maturity period 15 days to 1 year, BoB is offering a 6.7% interest rate. On FD maturity between one year and two years, BoB is offering a 6.80% interest rate. On maturity between two and five years, BoB is offering a 6.70% interest rate. On FDs maturing between five years and ten years, BoB offers an interest rate of 6.7%.

FD interest rates of SBI

For FDs with maturity period of 7-45 days, SBI is offering 5.75%, 46-179 days 6.25%, 180-210 days 6.35%, and 211 days to less than 1 year 6.40%. On FDs maturing between one year and two years, SBI is offering 6.80% interest rate. On FDs maturing in 2-3 years, the bank offers 6.80%. On maturity between three and five years, SBI is offering 6.80% interest. SBI offers an interest rate of 6.85% on FDs with maturity between five years and 10 years.

FD interest rates of ICICI Bank

ICICI Bank provides a number of FD options to park your savings, These work as emergency funds to meet your urgent requirements. ICICI Bank offers short-term FDs ranging from 7 days to 289 days and long-term FDs ranging from 1-10 years. For FDs with a maturity of 7-45 days, ICICI Bank is offering 5.50%, 46-184 days 6.25%, 185-289 days 6.50%, and 290 days to less than 1 year 6.40%. On FDs maturing in 2-3 years, the bank is offering a 7.5% interest rate. ICICI Bank is offering a 7.25% interest rate on FDs maturing between three years and five years. ICICI Bank offers an interest rate of 7% on FDs with maturity between five years and 10 years.

FD interest rates of HDFC Bank

For FDs with a maturity of 7-90 days, HDFC Bank is offering 6.25%, and for 91 days to one year 7.30%. HDFC Bank is offering 7.3% on FDs with a maturity of one year to less than two years. HDFC Bank is offering a 7.4 % interest rate on FDs maturing in 2-3 years. HDFC Bank is offering a 7.25% interest on FDs maturing between three years and five years. The bank offers an interest rate of 6.5% on FDs with maturity between five and ten years.

 

Source:- livemint