Which bank is giving the highest interest on 12 months FD
FD Rates: Reserve Bank of India has reduced the repo rate twice this year. The RBI first cut the repo rate by 0.25 percent in February, after which the 0.25 percent repo rate was reduced again in April. In this way, the RBI had reduced the repo rate from 6.50 percent to 6.00 percent within 2 months. Along with reducing the repo rate, while banks started cutting loans interest rates on the one hand, on the other hand banks started cutting FD interest rates as well. Today we will learn about the major banks who are paying the most interest on FDs of 12 months duration.
state Bank of India
The country’s largest government bank- State Bank of India (SBI) is paying 6.5 percent to ordinary citizens on FDs of 12 months and 7.0 percent to senior citizens.
Bank of Baroda
In terms of market cap, the country’s second largest government bank- Bank of Baroda is offering an interest of 6.8 percent to ordinary citizens and 7.30 percent to senior citizens on 12 months FD.
Punjab national bank
Punjab National Bank i.e. PNB is also a government bank. This bank is paying 6.7 percent to ordinary citizens on 12 months FD and 7.20 percent to senior citizens.
HDFC Bank
The largest bank in the private sector- HDFC Bank is paying 6.6 percent to ordinary citizens on 12 months FD and 7.1 percent to senior citizens.
ICICI Bank
ICICI Bank is paying 6.7 percent to ordinary citizens on 12 months FD and 7.2 percent to senior citizens.
Axis bank
Axis Bank of Private Sector is paying 6.7 percent to ordinary citizens on 12 months FD and 7.2 percent to senior citizens.
Disclaimer: This article has been written only for the purpose of information. Before any type of investment or before taking financial risks, consult your financial advisor. India TV will not be responsible for any type of risk.
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