Fixed Deposit is the best way for all of us to save the money in bank, and enjoy good interest rate on it. This is far better than saving money in regular Savings Account, because of difference between interest rate of two. In Indian Banking sector, there is a very tough competition between the banks. The competition between different banks is the major reason why we can enjoy a good interest rate on FD.
Different banks in India offer different interest rate on Fixed Deposit, and their terms and conditions are also different, of course. If you want to become a smart investor, then you must open fixed deposit in the bank that offers highest interest rates. Not sure which banks in India offer high interest rates on Fixed Deposits? The below list will help you for sure.
1. State Bank of India
The ‘State Bank of India‘ is the most popular bank in India. It has more customers than any other bank in India has. SBI offers different interest rates for normal public and senior citizens. The Fixed Deposit period varies from 7 days to 10 years. SBI’s FD Interest Rates vary with time period and also from the factor whether you are senior citizen or not. Read details information about sbi fixed deposit rates.
2. Punjab National Bank
Punjab National Bank is my personal favorite for many of my banking needs. Not only me, it’s favorite of many others as well. This bank has progressed rapidly in the past some time, and is one of the best banks with a huge customer base. When it comes to offer interest rate on Fixed Deposits, Punjab National Bank comes among the best.
The Interest Rates on Fixed Deposits offered by Punjab National Bank, have been revised on 11 may, 2014. The minimum Fixed Deposit period is 7 days, and the maximum is 10 years. The maximum amount that you can save as Fixed Deposit is 10 crore.
3. ICICI Bank
With its friendly customer care and speedy service, this private bank of India, has become one of the best banks of the country. Not only the service is good, but the schemes run by this bank are just amazing. Yeah, it offers good interest rates on Fixed Deposits. You can have a look at the interest rates on Fixed Deposits by ICICI Bank.
As you can see in the screenshot above, this Interest Rates are applicable when the amount deposited is less than Rs. 1 Crore. Below is the ICICI Penal Table.
4. Bank of India
To attract the investors, Bank of India has nice schemes on Fixed Deposits. While from the banks listed above, I have been account holder in most, I have not been ever of this bank. The Bank of India interest rates of Fixed Deposits are quite tempting. Here is table for that:
For the Fixed Deposit of Rs. 1 Crore and Above, the following table is applicable. The maximum that you can have in your FD in Bank of India, is Rs. 100 Crore.
5. HDFC Bank
Yet another private bank that is known for its high-quality service, and speedy work. The past year has been amazing for HDFC Bank, as it attracted many new investors, thank to it’s good schemes on Fixed Deposits. As far as the interest rates on Fixed Deposits are concerned, you can know about that from the below table. Read HDFC Bank fixed deposit rates in details.
6. Axis Bank
Axis Bank has been pretty impressive with its services so far. Yeah, it is impressive when talking about FD Interest Rates as well. If you are not in the mood of opting for any of the banks listed above, due to one reason or other, then consider checking the Axis Bank FD Interest Rates. Here is the table making you know that:So it was the list of banks in India that offer high Interest Rates. The last choice is always yours. Your money is in your pocket after hell lot of hard work that you have done. Make sure to use and invest that in a way that you get maximum benefit, maximum interest on it.
If you are finding it hard to select the bank to open FD, then don’t hesitate to get help from us, by leaving your queries in the below comment box. I hope that you liked this list of banks with high interest rates on Fixed Deposits. Did you?