New Delhi: Everyone wants to make money with their own money. At the same time, people still place a lot of importance on fixed deposits (FDs) to increase their money. Indeed, a fixed deposit is considered safe without any risk and it also provides a return with a guarantee. At the same time, the interest rate on fixed deposits also varies. Over the last few years, interest rates on FDs have been declining. In such a scenario, today we are going to tell you which bank is offering the highest interest on FDs in today’s era.
One can get higher returns in the stock market or mutual funds, but here the money is likely to sink. Compared to the stock market or mutual funds, FDs have lower returns but are not worried about sinking money here. However, due to the duration of the FD, interest rates may differ in the same bank. Currently, there are many banks that pay higher interest on FDs.
IDFC Bank is offering maximum interest in case of FD. IDFC Bank is offering a minimum interest rate of 2.75 per cent and a maximum interest rate of 5.75 per cent.
HDFC Bank is the largest private sector bank. HDFC Bank is offering a minimum interest rate of 2.50 per cent and a maximum interest rate of 5.50 per cent on FDs.
Private sector bank ICICI Bank is also offering good interest rates on FDs. Here a minimum of 2.50 per cent to a maximum of 5.50 per cent interest is being offered.
Axis Bank is also a private sector bank and its interest rate on FDs ranges from a minimum of 2.50 per cent to a maximum of 5.50 per cent.
Canara Bank is a public bank. Canara Bank is offering a minimum interest rate of 2.95 per cent and a maximum interest rate of 5.50 per cent on FDs.