These are the top 10 banks which are giving 7.30% up to 2-3 year FD


FD Interest Rate 2021 These are the top 10 banks which are giving interest up to 7.30% on FD for 2-3 years, the scheme is for senior citizens : 7.30 percent rate of FD is suitable to dodge inflation. Ordinary depositors cannot take advantage of this as they can charge a maximum interest of 5 per cent. There are many banks in the country that are giving fixed deposit interest rate of up to 7.3 percent to senior citizen customers. Generally 5 percent interest is being available on FD, but there are many banks which are giving more returns than this. This facility of increased rate of interest is applicable for senior citizens.

FD Interest Rate 2021

All the banks give higher returns on deposits to senior citizens as compared to normal account holders. Savings account does not get such a good facility, but FD has this advantage!

Here is a list of top 10 public, private and small finance banks promising returns of up to 7.30 per cent. Fixed Deposit Interest Rate of 7.30 percent is suitable to dodge inflation. Ordinary depositors cannot take advantage of this as they can charge a maximum interest of 5 per cent. If FD is taken in the amount of crores then it gets reduced further. Small finance banks or small finance banks come in this category, which are giving interest up to 7.30 percent.

FD Interest Rate 2021

  • Suryodar Small Finance Bank – 7.3% – Effective from 9 September 2021
  • Ujjivan Small Finance Bank – 7.25% – Effective from December 9, 2021
  • Northeast Small Finance Bank – 7.25% – Effective from 19th April 2021
  • Jana Small Finance Bank – 7% – applicable from 7.5.2021
  • Fincare Small Finance Bank – 6.75 to 7% – Applicable from 25.10.2021
  • ESAF Small Finance Bank – 6.75 percent – with effect from 1 December 2021
  • Utkarsh Small Finance Bank – 6.50 percent – ​​applicable from July 1, 2021
  • Equitas Small Finance Bank – 6.50 percent – with effect from 1 October 2021
  • AU Small Finance Bank – 6.50 percent – with effect from 14 October 2021
  • Capital Small Finance Bank – 6.50 percent – ​​applicable from June 3, 2021

Rates of government banks on FDs of 2-3 years

  • Union Bank of India – 5.80 per cent – ​​with effect from 1st September 2021
  • Indian Bank – 5.70 percent – effective from November 5, 2021
  • Bank of Baroda – 5.70 percent – effective from November 16, 2021
  • Indian Overseas Bank – 5.65 to 5.70 percent – effective from 9 November 2021
  • Punjab and Sind Bank – 5.65 percent – ​​effective from 16 September 2021
  • State Bank of India – 5.60 percent – ​​effective from January 8, 2021
  • Punjab National Bank – 5.60 percent – ​​effective from 1st August 2021
  • Canara Bank – 5.60 percent – applicable from 9 August 2021
  • Bank of India – 5.55 percent – with effect from August 1, 2021
  • Central Bank of India, UCO Bank – 5.50 per cent – ​​Applicable on November 10, 2021 in Central Bank and November 16, 2021 in UCO Bank

Fixed Deposit Interest Rate

Fixed deposit is one of the safest investment instruments. The funds held in this scheme (Fixed Deposit Interest Rate) are not affected by market volatility and provide a steady growth, which means that an individual can earn guaranteed returns on the money deposited for a fixed period.

The fixed deposit interest rate of FD varies from bank to bank. Almost all public sector and private banks including post offices today offer Fixed Deposits (FDs). Though there are many instruments available in the market that promise higher returns than FDs, this traditional mode of investment is still preferred by a large population, especially in small towns and rural areas. This is mainly because FD is a risk-free instrument and is also eligible for deduction under section 80(c) of the Income Tax Act, 1961.

The investment tenure and returns of FDs vary from bank to bank. Generally, the tenure ranges from seven days to 10 years.

SCSS FD Rate

The interest earned through FD is calculated using the compound interest formula. The returns are compounded periodically – monthly, quarterly or annually. Generally, FD returns are compounded quarterly. In other words, a fixed deposit account is an account where an investor deposits money for a specified period and the interest rate does not fluctuate during the period specified at the time of opening the account. .

Many banks offer an additional return of 0.5 per cent to senior citizens to regular customers. In addition, many banks also allow investors to apply for collateral-free loans against FDs. The loan amount on fixed deposits offered by banks is generally 75 per cent of the FD value. It provides liquidity.

Hence, one can easily invest in fixed deposits without worrying about returns and defaults.

Also know – LIC Systematic Investment Plan: These 5 schemes will double your money in 5 years, know full details



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