With effect from July 1, the interest rates on fixed deposits have been raised by four major banks in the nation, including Axis Bank & HDFC. If you also have accounts with Axis Bank & HDFC, make sure to familiarize yourself with the current interest rates before making any investments.
What is the interest rate on a fixed deposit for a year?
For a one-year FD, HDFC Bank is offering 6.60 percent interest. On the other hand, Axis Bank is providing FDs with 6.70 percent interest for a year. Regarding other banks, SBI and ICICI are offering 6.8 percent and 6.70 percent interest on one-year fixed-rate deposits, respectively. For two-year FDs, HDFC Bank is offering 7% interest. In contrast, Axis Bank is providing 7.10 percent interest on FDs for two years. Talking about other banks, ICICI and SBI are offering 7.20 percent and 7 percent interest respectively on one-year FDs.
What is the interest rate on a fixed deposit for three years?
The three-year FDs offered by HDFC Bank have an interest rate of 7%. On the other hand, Axis Bank is giving three-year FDs an interest rate of 7.10 percent. Regarding other banks, SBI and ICICI are offering 7.75 percent and 7.25 percent interest on one-year fixed-rate deposits, respectively. The interest rates on FD have been modified by the Bank of India as of June 30, 2024. For 666 days, the Bank of India is providing elderly folks with the highest interest rate of 7.80%. It will also pay up to 7.3% interest on FD for the same number of days to other people at the same time.
Bank of Punjab and Sind has
changed the interest rates on FD from July 1, 2024. Punjab and Sind Bank is offering 7.80% interest for senior citizens on FD of 666 days. At the same time, for other individuals, a maximum interest of up to 7.3% will be available on FD for the same period.
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