Which bank is offering highest FD interest rate on 5-year tenure

New Delhi: During market volatility, Fixed Deposit schemes turn out to be secure investment options with guaranteed returns. Many private banks offer competitive interest rates to attract a larger customer base. Opting for a 3-5-year tenure is advantageous as most banks provide high FD interest rates within this duration. This strategy is adopted by banks to encourage customers to  keep funds in their banks for longer periods. By diversifying across multiple FDs, depositors can maintain regular liquidity while taking advantage of the favorable interest rates available in the 3-5-year window.

Let’s look at the FD interest rate offered by HDFC Bank, ICICI Bank, AXIS Bank, Bandhan bank, IDFC First Bank on 5 year FD.

HDFC Bank FD Interest rate

HDFC Bank offers 7.00 per cent interest for FD tenures ranging from 4 years 7 months 1 day to less than or equal to 5 years for general citizens, and 7.50 per cent for senior citizens. They also offer the same rates for tenures from 5 years 1 day to 10 years.

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Axis Bank FD Interest rate

Axis Bank provides 7.10 per cent interest for tenures of 3 years to less than 5 years, with 7.60 per cent for senior citizens. For tenures from 5 years to 10 years, the rates are 7.00 per cent for general citizens and 7.75 per cent for senior citizens.

ICICI Bank FD Interest rate

ICICI Bank offers 7.00 per cent interest for tenures from 3 years 1 day to 5 years, and 6.90 per cent for tenures from 5 years 1 day to 10 years, with 7.50 per cent interest for senior citizens. They also have a 7.00 per cent rate for a 5-year term under the 80C FD scheme, with 7.50 per cent for senior citizens.

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Bandhan Bank FD Interest rate

Bandhan Bank provides 7.25 per cent interest for tenures from 3 years to less than 5 years, and 5.85 per cent for tenures from 5 years to up to 10 years. Senior citizens earn 7.75 per cent and 6.60 per cent respectively for these tenures.

IDFC First Bank FD Interest rate

IDFC First Bank offers 7.00 per cent interest for tenures from 3 years 1 day to 5 years, and for tenures from 5 years 1 day to 10 years, with 7.50 per cent for senior citizens.

 5 year FD interest Rates: HDFC Bank offers 7.00 per cent interest for tenures ranging from 4 years 7 months 1 day to less than or equal to 5 years for general citizens, and 7.50 per cent for senior citizens.  Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today