Bank Fixed Deposits ( FDs ) are available at different tenures; on each tenure the interest rate varies. Time between 7 days to 10 years can be chosen by a customer based on their need. For a person looking for the short tenure option with good investment earning, one year FD may be a great choice.
FD Rates Offered By Banks
Many private banks today are offering a rate that can be considered extraordinary on a one-year fixed deposit, superceding the 8 percent mark. These include Bandhan Bank and DCB Bank. In the meantime, the leading private bank in India, HDFC Bank, has yet put its maximum at 6.60 percent for one-year tenure its fixed deposit is comparatively good for its prospective customers.
Bandhan Bank FD Rates
The one-year FD available from this private bank is at an interest rate of 8.01 percent per annum for general public use. The interest rate on deposits in the name of senior citizens is tagged at 8.55 percent.
DCB Bank FD of 1 Year
But then, DCB bank has the highest interest rate for a fixed deposit at one year. 7.50 percent will be the normal interest rate which will be given for one year and for up to 14 months for the general public. Senior citizens earn an interest of 8 percent. The 8.25% interest rate deside for super senior citizens.
IndusInd BanK FD Rates
This private sector bank is offering competitive interest on FD for a year. Between a year and 1 month less than 3 months, ordinary citizens will get an interest of 7.75 percent. For a senior citizen, the rate of interest is 8.25 percent.
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