Hey friend,
All of us are looking for ways to invest and increase our wealth. Just like Hera Pheri, we want our money to grow. I would not recommend you to invest in any scheme which says “20 din and paisa double” without checking its legality. Rather, you should invest in FD. Keep reading to know which bank is best for fixed deposits.
Which bank is best for FD ?
You should pick banks with credibility. FD is provided by banks as well as NBFCs to the customers. I have a Bajaj Finance FD because it is reputed. More than that, ICRA and CRISIL have given its high safety rating.
Advantages of FD : Minimal risks :FD does not require risking your entire investment amount on a market scheme.
Tax benefits given up to Rs. 1,50,000 :There are schemes wherein people can claim tax benefits while filing their ITR.
Guaranteed Returns :Once the lock-in period is over, you will get your money back along with your interest.
Offered by most banks :Most institutions offer FD services to their customers.
Take a look at the table given below to know the interest rate being given by banks in 2022.
Banks |
General Citizens FD Rates |
Senior Citizens FD Rates |
Andhra Bank |
3.00% – 5.50% |
3.50% – 6.00% |
Axis Bank |
2.50% – 5.75% |
2.50% – 6.50% |
Bajaj Finance |
5.51% – 6.50% |
5.75% – 6.75% |
Bandhan Bank |
3.00% – 5.60% |
3.75% – 6.35% |
Bank of Baroda |
2.80% – 5.25% |
3.30% – 5.75% |
Bank of India |
2.85% – 5.15% |
3.35% – 5.65% |
Bank of Maharashtra |
2.75% – 4.90% |
N/A – 5.40% |
Canara Bank |
2.95% – 5.50% |
2.95% – 6.00% |
Central Bank of India |
2.75% – 5.00% |
3.25% – 5.50% |
Citibank |
1.85% – 3.50% |
3.35% – 4.00% |
DBS Bank |
2.50% – 5.50% |
2.50% – 5.50% |
DCB Bank |
4.35% – 5.95% |
4.85% – 6.45% |
Dhanlaxmi Bank |
3.25% – 5.50% |
3.25% – 6.00% |
DHFL |
8.25% – 8.95% |
8.65% – 9.35% |
Federal Bank |
2.50% – 5.60% |
3.00% – 6.25% |
HDFC Bank |
2.50% – 5.50% |
3.00% – 6.25% |
HSBC Bank |
2.25% – 4.00% |
2.75% – 4.50% |
ICICI Bank |
2.50% – 5.60% |
3.00% – 6.30% |
IDBI Bank |
2.70% – 4.80% |
3.40% – 5.30% |
IDFC First Bank |
2.50% – 6.00% |
3.00% – 6.50% |
Indian Bank |
2.90% – 5.25% |
3.40% – 5.75% |
Indian Overseas Bank |
3.40% – 5.20% |
3.90% – 5.70% |
IndusInd Bank |
2.50% -5.50% |
3.00% – 6.00% |
Jammu And Kashmir Bank |
3.00% – 5.30% |
3.50% – 5.80% |
Karnataka Bank |
3.40% – 5.50% |
3.40% – 6.00% |
Karur Vysya Bank |
3.25% – 5.75% |
3.25% – 5.75% |
Kotak Bank |
2.50% – 5.30% |
3.00% – 5.80% |
LIC Housing Finance |
5.25% – 5.75% |
5.50% – 6.00% |
OBC |
3.00% – 5.30% |
3.50% – 5.80% |
PNB |
3.00% – 5.25% |
3.50% – 5.75% |
PNB Housing Finance |
5.90% – 6.70% |
6.15% – 6.95% |
Punjab and Sind Bank |
3.00% – 5.30% |
3.00% – 5.80% |
RBL Bank |
3.25% – 6.00% |
3.75% – 6.50% |
SBI |
2.90% – 5.40% |
3.40% – 6.20% |
South Indian Bank |
3.50% – 5.65% |
4.00% – 6.15% |
Standard Chartered Bank |
1.75% – 5.35% |
1.75% – 5.85% |
Syndicate Bank |
2.95% – 5.50% |
2.95% – 6.00% |
UCO Bank |
2.75% – 5.00% |
3.00% – 5.50% |
Union Bank of India |
3.00% – 5.60% |
3.50% – 6.10% |
Yes Bank |
3.25% – 6.50% |
3.75% – 7.25% |
This is all from my end on which bank is best for fixed deposit.
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Authors Of The Question
Which bank is best for fixed deposit ?
Twisha
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2 Year
2022-05-11T10:15:54+00:00 2022-05-11T10:15:56+00:00Comment
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