Bank FDs are undoubtedly one of the possibilities available to consumers when it comes to securing investments in the nation. Through banks, customers can make lump-sum investments and receive interest. However, it has frequently been seen that customers pick FDs despite the fact that they offer significantly lower interest rates than alternative investment options. Currently, several banks are also paying less interest on FDs.
Axis Bank
The interest rate on bank FDs has been lowered by Axis Bank. For FDs with terms ranging from seven days to ten years, Axis Bank now offers interest rates of 3 to 7.10 percent. For FDs that are greater than two, the bank has deducted 10 basis points for FDs of more than 2 years but less than 5 years.
Yes Bank
The interest paid on FDs has also been decreased by Yes Bank. According to the most recent interest rate, 3.25 to 7.25 percent interest will now be paid on bank FDs for regular residents who make FDs of less than Rs 2 crore. Senior citizens will receive interest rates ranging from 3.75 percent to 8 percent.
HDFC Bank
The FD rate at HDFC Bank has also changed and decreased. The interest rates on the bank’s 35-month and 55-month FDs have changed. In accordance with this, previously 7.20% interest was granted for FDs under Rs 2 crore for 35 months and 7.25% for 55 months, but currently 7.15% interest is being given for 35 months and 7.20 percent for 35 months.
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