FD: To stay away from the volatility of the stock market, then get more than 7% interest on FD in these banks

FD (Fixed Deposit) has been the preferred choice of investors for long-term investment as the investment is not affected by market volatility. (Image- Pixabay)

Fixed Deposit: The market has been witnessing huge ups and downs for a long time. Both Sensex and Nifty have slipped from record highs and now there is continuous fluctuation in one range only. In such a situation, less risky investors are getting nervous about investing in the stock market. For such investors, there are still some options like FD where they can get more than 7 per cent return on their capital.
FD (Fixed Deposit) has been the preferred choice of investors for long-term investment as the investment is not affected by market volatility. In this, benefits like interest payment option, no market risk and income tax deduction option are available in this.

Stock Tips: Nifty is not expected to rise right now, invest in these two stocks in the short term to get bumper profits

This is the rate of FD in these banks

Investing your capital in FDs for a period of 7 days to 10 years on deposits of less than 2 crores can earn an interest of 2.5 percent-7.5 percent per annum.

Bank – Interest Rate (Common Citizen) – Interest Rate Senior Citizen
Yes Bank – 3.50% to 6.75% – 4.00% to 7.50%
Bandhan Bank – 3.00% to 5.50% – 3.75% to 6.25%
IndusInd Bank – 2.75% to 6.25% – 3.25% to 6.75%
SBI – 2.90% to 5.40% – 3.40% to 6.20%
ICICI Bank – 2.50% to 5.50% – 3.00% to 6.30%
HDFC Bank – 2.50% to 5.50% – 3.00% to 6.25%
Axis Bank – 2.50% to 5.75% – 2.50% to 6.50%
IDFC Bank – 2.75% to 5.75% – 3.25% to 6.25%

Source: Bankbazar.com, updated rate till July 29, 2021

YES Bank giving highest interest on FD

  • Yes Bank is giving the highest interest rates on FDs in the country. Ordinary citizens i.e. people below 60 years of age are getting interest at the rate of 6.75 per cent per annum on FD deposits for a period of 5-10 years.
  • Talking about senior citizens, Yes Bank is also giving the highest interest on FD. YES BANK is offering 7.5 per cent per annum interest rate on FDs of 5-10 years tenor to senior citizens.

(Note: FD rates depend on the repo rate to be set by the central bank RBI and if it is cut, FD rates may also come down.)

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Nisha Chawla
She is an expert in Banking, Finance and working with an international bank. She sharing her ideas and knowledge with Business Khabar.
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