New Delhi: Fixed Deposits (FDs) are considered to be a safe and secure investment for those who don’t want to take stock market related risks and want a guaranteed return in a stipulated time frame. In this article, we inform you about the interest rates offered on 5-year Fixed Deposit schemes by banks, including SBI, HDFC bank, ICICI Bank, Bank of Baroda and Kotak Mahindra Bank.
SBI FD rate on 5-year deposit
State Bank of India (SBI), the country’s largest public sector bank, is offering 6.5 per cent on its five-year fixed deposit to regular citizens, while senior citizens are entitled to receive 0.50 more, i.e., 7.5 per cent. It may be noted that SBI FD interest rates on 2-3 year FD is 7 per cent for general citizens. Senior citizens are entitled to receive 7.5 per cent for this tenure.
HDFC Bank FD rates
HDFC Bank, the country’s largest private lender, is offering 7 per cent to regular citizens and 7.5 per cent to senior citizens on its five-year fixed deposit plans. The bank has fixed the interest rate of 7.4 per cent on FD of 55 months to regular citizens.
Bank of Baroda (BOB) FD rates
Bank of Baroda (BOB) has fixed 6.5 per cent as the interest rate on its five-year fixed deposit (FD) and 7.15 per cent for senior citizens for this tenure. The public sector bank is offering 7.25 per cent on an FD scheme of 399 days, (Monsoon Dhamaka deposit scheme) which it recently launched. Senior citizens are entitled to get an extra 50 basis points.
ICICI Bank FD rates
The country’s second largest private sector bank is giving 7 per cent and 7.5 per cent interest to regular and senior citizens respectively on its 5-year fixed deposit. It is offering 7.25 per cent and 7.8 per cent on FDs with a tenure between 15 and 18 months.
Kotak Mahindra Bank FD rates
Kotak Mahindra Bank is offering 6.2 per cent interest rate to general citizens and 6.7 per cent interest rate to senior citizens on 5-year Fixed Deposit tenure. The lender is offering 7.4 per cent on an FD of a 390-day tenure.
FD interest rates: What SBI, HDFC Bank, ICICI Bank, Bank of Baroda and Kotak Mahindra Bank are offering on their 5-year Fixed Deposit schemes. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
