You want higher returns than SBI and HDFC Bank, do FD in ‘these’ banks, 7% interest fixed | You want higher returns than SBI and HDFC Bank, do FD in ‘these’ banks, 7% interest fixed
Let us know which banks offer higher returns to customers than SBI and HDFC Bank.
bank interest rate
New Delhi: The risk is much lower in Bank FD and Saving Accounts. In such a situation a large number of people prefer both of these options for investment. This helps them diversify their portfolio. Most investors pay very low returns on term deposits. In such a situation they look for the bank that offers the highest interest for FD. Also, in the last few years, several public and private banks, including the State Bank of India (SBI), have significantly reduced interest rates on FDs. Let us know which are the banks that offer higher returns to the customers than SBI and HDFC Bank. (You want higher returns than SBI and HDFC Bank, do FD in ‘these’ banks, 7% interest fixed)
Which bank pays what interest rate?
New and smaller private banks are offering higher interest rates than large banks. Of these, AU Small Finance Bank, Equitas Small Finance Bank and Ujjivan Small Finance Bank offer 7 per cent interest rates.
>> DCB Bank pays 6.75 per cent interest on FDs.
>> RBL Bank also offers 6.25 per cent interest to customers on fixed deposits.
>> FD is getting 6% interest in Bandhan Bank. These interest rates are higher than those of major public and private banks.
>> HDFC Bank, ICICI Bank and Axis Bank have interest rates of only 3-3.5 per cent.
>> Kotak Mahindra Bank pays 4 percent interest.
Among public sector banks, State Bank of India (SBI) has an interest rate of 2.70 per cent and Bank of Baroda has an interest rate of only 3.20 per cent.
Smaller private banks keep more balances
There is also a condition that higher interest rates are available in smaller private banks. The minimum balance is usually higher. The minimum arrears in a large bank can be up to Rs 500, but in AU Small Finance Bank it is Rs 2,000. Experts say small banks keep the minimum balance high, as they want to reach middle-class and self-employed professionals. Experts say that people should choose a bank with a big bank and good service record.
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You want higher returns than SBI and HDFC Bank, do FD in ‘these’ banks, 7% interest fixed
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