FD Rates: 3 banks revise FD rates; offering up to 8.05% interest - Check details
FD Rates: Fixed deposits or FDs are one of the favourite investment options as they are a low-risk investment option. It can be a good choice for a variety of goals. Here are some banks that revised their fixed deposit interest rates or FD interest rates in October 2024.
FD Rates: Several banks are offering good interest rates on fixed deposits. Meanwhile, the three banks that have revised their interest rates are - Punjab National Bank, Punjab & Sindh Bank and Bank of Baroda.
FD Rates: Up to 8.05 interest rate
FD Rates: Customers of these banks can now get interest up to 8.05 per cent on FD.
FD Rates of Punaj National Bank
FD Rates: The highest interest rate offered by Punjab National Bank is 7.25 per cent on FDs of 400 days. Senior citizens are being given 7.75 per cent interest and super senior citizens are being given 8.05 per cent interest. These rates are effective from October 1.
FD Rates of Punjab and Sindh Bank
FD Rates: Punjab and Sindh Bank is offering interest ranging from 2.80 per cent to 7.25 per cent to the people. This interest is given for a period of 7 days to 10 years. Senior citizens are given an additional interest of 0.50 per cent. On the other hand, super senior citizens are given an additional interest of 0.15 per cent on periods of 222 days, 333 days, 444 days, 666 days and 999 days.
FD Rates of Bank of Baroda
FD Rates: Bank of Baroda gives interest ranging from 4.25 per cent to 7.15 per cent to people for a period of 7 days to 10 years. Senior citizens can get interest ranging from 4.75 per cent to 7.60 per cent. These new rates have become effective from October 3.
FD Rates: Reliable Investment Options
FD Rates: Fixed Deposits of FDs are a reliable investment option. The facility of investing in FD is available for a period of 7 days to 10 years.
FD Rates: Benefits of Fixed Deposits
FD Rates: Here are some of the benefits of Fixed Deposits or FDs.
FD Rates: Withdraw even before maturity
FD Rates: You can withdraw money even before maturity. However, some charge has to be paid for pre-mature withdrawal. It varies in different banks.
FD Rates: Loan
FD Rates: Another good thing is that one can take a loan against FD. If you are in need of money, you can take a loan against it without breaking the FD. Usually, up to 90 per cent of the amount of FD is available as a loan.
FD Rates: Guaranteed interest rate
FD Rates: Changes in interest rates do not affect FDs. Once you invest in an FD, you will get a guaranteed interest rate. During this period, even if the interest rate goes down, you will still get the same interest.
FD Rates: Several options
FD Rates: There are several options for investing in FD. You can start the FD with as low as Rs 1,000. Usually, FD can be done for a period of 7 days to 10 years.
FD Rates: Risk-free investment
FD Rates: Fixed Deposit is considered to be the most risk-free investment option in the country as banks are monitored by RBI.