FD Interest Rates: HDFC Bank is giving 7 percent interest to general citizens and 7.5 percent interest to senior citizens on its three-year fixed deposits.
FD Interest Rates: The Reserve Bank of India (RBI) is expected to cut the repo rate in the next Monetary Policy Committee (MPC) meeting in December. If the repo rate is cut, then a phase of reduction in interest rates on FD will begin.
Therefore, financial experts say that this is the best time to get great interest on fixed deposits (FD). If you are also thinking of putting money in FD, then we are giving you a list of those banks which are giving the highest interest on 3-year FD.
| Bank | Interest received by common people (%) | Senior citizens are getting interest (%) |
| HDFC Bank | 7 | 7.5 |
| ICICI Bank | 7 | 7.5 |
| SBI | 6.75 | 7.25 |
| Punjab National Bank | 7 | 7.5 |
| Union Bank Of India | 6.7 | 7.2 |
| Federal Bank | 7 | 7.5 |
| Kotak Mahindra Bank | 7 | 7.6 |
Private banks have higher interest rates than government banks
Talking about government banks, the interest rates are somewhat low. State Bank of India (SBI) is giving 6.75 percent interest to general citizens and 7.25 percent interest to senior citizens on 3-year FD. Punjab National Bank is providing 7 percent interest rate to general citizens and 7.5 percent interest rate to senior citizens on 3-year fixed deposit. Union Bank of India provides 6.7 percent interest rate to general citizens and 7.2 percent interest rate to senior citizens on three-year fixed deposit.
How much interest is being received in private bank
HDFC Bank is offering 7 per cent interest to general citizens and 7.5 per cent to senior citizens on its three-year fixed deposits. ICICI Bank also offers the same rates, i.e. 7 per cent and 7.5 per cent, to general and senior citizens.
Another private lender Kotak Mahindra Bank offers 7 per cent interest rate to general citizens and 7.6 per cent to senior citizens on its 3-year FD. These rates came into effect on June 15. Federal Bank also offers 7 per cent and 7.5 per cent interest rate to general and senior citizens respectively on its 3-year fixed deposits.
