Bank FD Interest Rates: These Banks Are Offering Very Attractive Interest Rates; Check Details

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Along with rising inflation and falling interest rates, major banks have reduced interest rates on FDs. People in India prefer to take less risk in investing. Most investors prefer to stay away from the volatility of the stock markets, even though the stock market recently closed at a record high. They prefer to invest in FDs to meet their investment goals, as they consider it a safe investment.

Banks have cut interest rates on FDs for all time periods since the Reserve Bank of India (RBI) made a direct fall in the repo rate. Despite the rate cut, there are some banks which are offering attractive interest rate on one year FD. Small finance banks offer relatively high interest rates on FDs.

IndusInd Bank

It is offering very good interest rates on bank fixed deposits (FD). The bank is offering a high interest rate of 7 per cent on one-year FDs. If you keep one lakh rupees in this bank’s FD for one year, then after one year your amount will be Rs 1,07,186. That is, you will get interest of Rs 7,186.

RBL Bank

This bank is also offering attractive interest rates on FDs. This bank is offering 6.75 percent interest rate on one year FD. If you invest one lakh rupees for one year in this bank’s FD, then this amount will be Rs 1,06,923. That is, you will get a profit of Rs 6,923.

These banks are also giving better interest rate

Yes Bank is offering 6.75 percent interest rate on one year FD. At the same time, DCB Bank is offering 6.50 percent interest rate on one year FD. Apart from this, Bandhan Bank is offering 5.75 percent interest rate on one year FD.

(Source: jagran.com)

1 Comment
  1. Rs says

    The deposit in such banks is like a donation to industrialists to do business with head I win tail you loose basis.If your interest is taxable,the returns does not even take care of inflation.It is the intention of the government to take money from middle class honest tax payer to make him poor.Start welfare schemes for poor and for this give big contracts to rich businessman who pay party funds.

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