Know which bank, SBI, PNB, or ICICI Bank, would provide you with the most return on your FD deposits

 Know which bank, SBI, PNB, or ICICI Bank, would provide you with the most return on your FD deposits

Fixed Deposits (FDs) have long been regarded as among the greatest alternatives for savings and investing. One of the main reasons for this is that fixed deposits are secure for your money and don't include any market risk.

Many individuals do not, however, deposit money in FDs. This is mostly due to the very low interest rate offered on FDs. However, practically all categories of banks have raised their clients' interest rates in recent days. Following that, clients are now benefiting from higher FD interest than before. If you wish to invest your money in FDs in such a circumstance, now may be a good moment to do so. It is crucial for you to be aware of the interest rates offered by various banks if you are considering investing in FDs in such a circumstance. Please inform us about the interest rates offered by Punjab National Bank, HDFC Bank, and State Bank of India (SBI).

Bank ICICI FD

On FDs under Rs 2 crore, ICICI Bank is providing returns of above 7% annual interest rate to its clients. You may invest your money in this bank's FD plans for terms ranging from 7 days to 10 years. This bank offers interest rates to its regular clients that range from 3 percent to 7.10 percent. Customers who fall into the senior citizen category are also benefiting from increased interest rates at the same time. For its senior citizen clients, this bank offers an annual interest rate ranging from 3.50 percent to 7.60 percent.

National Bank of Punjab

Customers of Punjab National Bank have access to FD plans with terms ranging from 7 days to 10 years. In addition, this bank is providing an annual interest rate maximum of 7.75 percent on FD plans with amounts under Rs 2 crore. For FDs, Punjab National Bank offers its ordinary clients an interest rate of no less than 3.50 percent and no more than 7.25 percent. In addition, this bank offers its senior citizen clients an annual interest rate of between 4.5% and 7.75%, depending on their balance.

Indian State Bank (SBI)

The biggest bank in India, State Bank of India (SBI), provides its clients FD plans with terms ranging from 7 days to 10 years. On FD programs with amounts less than Rs 2 crore, this bank is concurrently delivering maximum returns of 7.50 percent annual interest rate. SBI offers its regular clients an interest rate on FDs of no less than 3 percent and no more than 7.50 percent. At the same time, this bank offers its senior citizen clients an annual interest rate ranging from 3.50 percent to 7.50 percent.