FD Rates: All banks, both public and private, in the country provide fixed deposits (FDs) to their clients. Even post offices have bank FDs available for their customers. Today, we’re going to share where you can put your money into 5-year FDs and get better interest rates. Let’s dive in.
Bank FDs are seen as a great investment choice. The funds you put into a bank FD are secure, and the returns are set in advance. This is what makes bank FDs so appealing. If you’re someone who invests in FDs and sticks to bank FDs only, it’s wise to choose a bank FD that offers higher interest rates. All banks, both public and private, in the country provide fixed deposits (FDs) to their clients. Even post offices have bank FDs available for their customers. Today, we’re going to share where you can put your money into a 5-year FD and get better interest rates. Let’s dive in.
Post Office 5-year FD
The Post Office gives its customers a 7.5% interest rate on its 5-year fixed deposit. So, if you invest Rs 5 lakh in this fixed deposit, you’ll get a total of Rs 724,974 when it matures.
SBI 5-year FD
SBI, the largest public sector bank in the country, offers a 6.05 percent interest rate on its 5-year fixed deposit. Therefore, if you invest Rs 5 lakh in this fixed deposit, you’ll receive Rs 6,75,088 upon maturity.
HDFC Bank 5-year FD
HDFC Bank, the biggest private bank in the country, provides a 6.40 percent interest rate on its 5-year fixed deposit. So, if you invest Rs 5 lakh in this fixed deposit, you’ll get a total of Rs 6,86,822 when it matures.