North India Statesman
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Fixed Deposit (FD) A safe and reliable option for Indian investors. In this, the investor gets returns as per the pre-determined interest rate and time period. This option is suitable for those who want to earn stable returns while keeping their savings safe. here in the country top 10 banks Information about the FD rates currently offered by is given.
Top 10 banks and their FD rates
| bank name | General Citizen (Interest Rate) | Senior Citizens (Interest Rate) | particular period |
|---|---|---|---|
| HDFC Bank | 7.4% | 7.9% | 5 year FD |
| Kotak Mahindra Bank | 7.4% | 7.9% | 390-391 days |
| Federal Bank | 7.4% | 7.9% | 777 days |
| SBI (State Bank) | 7.0% | 7.5% | 2-3 years |
| Karnataka Bank | 7.50% | 7.75% | , |
| Bank of Baroda | 7.3% | 7.8% | 400 days |
| Union Bank of India | 7.3% | 7.8% | 456 days |
| RBL Bank | 8.0% | 8.5% | , |
| Bandhan Bank | 8.05% | 8.55% | , |
| IndusInd Bank | 7.99% | 8.49% | , |
Features of FD
fixed deposit To make it safe and convenient Reserve Bank of India (RBI) has issued some important guidelines:
- Penalty Free Withdrawal on Small Amount:
- Penalty free withdrawal is allowed for amounts less than ₹10,000.
- Relief in serious illness:
- Facility to withdraw entire FD amount in cases of serious health problems.
Premature Withdrawal and Penalty
premature withdrawal Means withdrawal of money before maturity of FD.
- For this, banks usually Penalty charge ranging from 0.5% to 1% Let’s apply.
- This penalty depends on the policies of different banks.
Why is fixed deposit beneficial?
- Safe Investment:
- Free from market uncertainties.
- Non-risky returns:
- Higher interest rates on mid and long-term FDs.
- resilience:
- Investment options for both small and large amounts.
- Special benefits to senior citizens:
- Interest rates are higher for senior citizens.
