Five Year FD Interest Rates: Everyone wants safe investment and maximum returns. For some time now, investors were getting great returns in the stock market. Now when the stock market has fallen drastically, investors are also looking for other options for investment. In such a situation, bank FD remains the safest option for you. While making FD, the goal of investors is to earn maximum interest and security. In different banks, the interest received for different tenures is also different.
The normal rule of FD is that the shorter the tenure of your FD, the less interest you get. On the other hand, the longer the tenure for which you make FD, the more interest you get. For example, if you make FD in State Bank of India (SBI), then the interest on three-month FD is 5.5 percent. At the same time, the interest rate on one-year tenure increases to 6.8 percent. Let us know about the interest rate given on FD by top banks-
State Bank of India (SBI) gives 6.5% interest on FDs with a tenure of 5 years. At the same time, the interest rate on FDs with a tenure of less than one year is 6.8%. These rates have been implemented from May 15, 2024.
Private sector ICICI Bank gives 7% interest on 5-year FD. The bank gives 6.7% interest on FD with one-year tenure. The bank has implemented these rates from 17 February 2024.
HDFC Bank gives 7% interest on FD for five years. But if you talk about FD of one year or less, then it is 6.6%. These rates have been implemented from February 9, 2024.
Bank of Baroda (BOB) is giving 6.50% annual interest on five-year FD. As per the interest rate implemented from 15 January 2024, one-year FD is getting 6.85 percent annual interest.
Kotak Mahindra Bank is giving 6.20% annual interest on five-year FD. At the same time, the bank is giving 7.10% annual interest on one-year FD. This interest rate has come into effect from February 27, 2024.
Punjab National Bank (PNB) is giving interest at the rate of 6.55 percent on fixed deposits (FD) up to 5 years. But this interest rate on one-year FD is 6.8%. These interest rates have been implemented from April 12, 2024.
