FD is considered a safe investment. If you are also planning to invest in fixed deposits, then this information is going to prove useful for you.
The interest rate on FD depends on the time period and amount of investment. Despite this, different banks offer interest at different rates.
In this article, we can compare the interest given on FD of less than Rs 2 crore in four banks-
Kotak Mahindra Bank
- The interest rate on FD for 365- 389 days is 7.10% and for senior citizens the interest rate on the same period is 7.82%.
- Kotak Mahindra Bank is offering interest on FD at the rate of 6.20% on FD of 5-10 years. For senior citizens, the rate for the same period is 6.70%.
State Bank of India
- The interest rate on FD of more than 1 year and less than 2 years is 7.10% and for senior citizens the interest rate on the same tenure is 7.60%.
- SBI is offering interest on FD at the rate of 6.50% on FD of 5-10 years. For senior citizens, this rate is 7.50% for the same period.
ICICI Bank
- The interest rate on FD of 1 year is 6.70% and for senior citizens the interest rate on the same tenure is 7.20%.
- ICICI Bank is offering interest at the rate of 6.90% on FDs of more than 5 years and up to 10 years. For senior citizens, this rate is 7.50% for the same period.
HDFC Bank
- The interest rate on FD of more than 1 year and less than 15 months is 6.60% and for senior citizens the interest rate on the same tenure is 7.10%.
- ICICI Bank is offering interest on FD at the rate of 7.00% on FDs of more than 5 years and up to 10 years. For senior citizens, the rate for the same period is 7.75%.
