Do not let go by hand, this opportunity to get good returns
In this climate of economic slowdown, RBI has reduced the repo rate significantly. Due to this, car loans, home loans, and other retail loans have become cheaper. However, the reduction in interest rates has also affected the returns on Fixed Deposit (FD). Most of the major banks in the country have reduced the interest rate on FD. However, the guarantee of fixed returns still makes this scheme quite attractive to investors. Fixed deposits are also called term deposits. This is because you invest in a bank for a pre-determined period. Let us know which banks are offering great interest on FD to their customers even today.
Yes, Bank of the private sector is offering interest at the rate of 7.25 percent on FDs ranging from one year to 10 years. This bank is also giving an additional interest of 0.50 percent to senior citizens.
This bank is paying interest at the rate of 7.25 per cent on term deposits ranging from 24 months to 36 months. At the same time, the bank is offering interest at the rate of 7.75 per cent to senior citizens in the same period.
The bank is paying seven per cent interest on FDs ranging from one year to one year and two days. During the same period, the bank is paying interest of 7.50 per cent to senior citizens.