Good News! This bank is giving a lot of returns on FD, know in details…
Desk : Inflation is at its peak these days. In the era of rising inflation, if your intention is to make a safe investment with good returns, then this news can be useful for you. In recent times, many banks have increased the interest rates on fixed deposits (FDs). In such a situation, investing in FD can prove to be good.
In FD, you can earn returns by investing money for a fixed tenure and at a fixed rate of interest. FDs can be made for tenors ranging from 7 days to 10 years. Some banks also offer FDs of more than 10 years. You need to keep in mind that the interest rates on FDs of different tenors also differ. It is not necessary that the longer the FD, the higher the interest rate on it.
You should compare the interest rates on FDs of banks. Many banks are giving good returns on FDs of one and two years. Let us have a look at the interest earned on FDs with tenures of one year and two years. For example, private sector RBL Bank is offering 6.25 per cent interest on FDs ranging from one year to less than two years. Similarly, IndusInd Bank is giving 6 percent interest on FDs ranging from one year to one and a half years.
Comparison of FDs of banks is necessary: Private bank IndusInd Bank is giving 6% interest on one-year FD and 6.5 percent on two-year FD. Bandhan Bank is giving 5.75 percent interest on one year FD and 6.25 percent interest on two year FD. IDFC First Bank is offering 5.75 on one year FD and the same interest on two year FD. DCB Bank is giving 5.55 percent interest on one year FD and 6.25 percent on two year FD. State Bank of India State Bank of India is giving 5.10 percent interest on one year FD and 5.20 percent for two years. PNB is offering 5.10 per cent equal interest on one year and two year FDs. Private bank ICICI Bank is offering interest equal to 5 percent on FDs of one and two years.
Which bank is giving how much and good interest
- indusind bank :- 6.00%6.50%
- Bandhan Bank :- 5.75%6.25%
- IDFC First Bank :- 5.75%5.75%
- DCB Bank :- 5.55%6.25%
- HDFC bank :- 5.1000%5.10%
- SB I5.10% :- 5.20%
- PNB5.100% :- 5.10%
- ICICI Bank :- 5.00%5.00%
Up to Rs 5 lakh is protected: Bank FDs guarantee safety with great returns. Under the Deposit Insurance and Credit Guarantee Corporation (DICGC) Act, each customer with a bank has a safe deposit of up to Rs 5 lakh. In case of bank closure, your deposit up to 5 lakhs remains safe. In the PMC Bank scam case, instructions were issued to give Rs 5 lakh to the depositors. Earlier this rule was not there, but in view of the security of the deposited capital of the customers, the government issued a rule of 5 lakhs.