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FD below Rs 2 crore: know what is the interest rate in 5 big banks including SBI, PNB

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sbi

FD Rates in India: Bank FD (Fixed Deposit) is still the first option of savings for many people. The reason for this is ease of investment and withdrawal and to a large extent, safety. Even though interest rates on FDs have come down drastically at present, but it is still popular. FDs can be made in banks from 7 days to 10 years. It is up to the customer to get short or long term FDs in line with their short term or long term financial goals. At present, in the case of FDs of less than Rs 2 crore in 5 major banks of the country, SBI, PNB, Bank of Baroda, HDFC Bank and ICICI Bank, at what period the interest rate is applicable, let us know…

SBI

SBI is getting interest at the rate of 2.90% per annum on FDs ranging from 7 days to 45 days. On the other hand, FDs ranging from 46 days to 179 days are getting 3.90 per cent, 180 days to 210 days and 211 days, but less than 1 year FD is getting 4.40 percent interest annually. Over 1 year but 5% on FDs under 2 years, 5.10% on FDs above 2 years but less than 3 years, 5.30% on FDs above 3 years but less than 5 years and 10 to 5 years 5.40 per cent annual interest on FD up to the year is currently applicable. 0.50 percent extra interest is being offered to senior citizens.

PNB

pnb

The annual interest rates for Punjab National Bank in the case of eligible domestic term deposits of less than Rs 2 crore are like this…

  • 3% for 7 days to 45 days, 3.50% for senior citizens
  • 3.25% for 46-90 day period, 3.75% for senior citizen
  • 4% on 91-179 days duration, 4.50% for senior citizens
  • 4.40% for 180-270 days duration, 4.90% for senior citizens
  • 4.50% on period less than 1 year from 271 days, 5.00% for senior citizen
  • 5.25% for 1 to 3 years, 5.70% for senior citizens
  • 5.30% for 3 to 10 years, 5.80% for senior citizens

PNB Best Fixed Deposit

PNB-

The stated annual FD rates are PNB’s non-collateral FD scheme ‘Uttam Fixed Deposit Scheme’. In this scheme, term deposits of more than 15 lakh but less than Rs 2 crore can be made. Rates are effective from 1 January 2021.

Bank of baroda

Bank of Baroda has interest rates on eligible FDs below Rs 2 crore.

  • 2.80% on the period from 7 days to 45 days
  • 3.70% on the period from 46 days to 180 days
  • 4.30% on the period from 181 days to 270 days
  • 4.40% on period ranging from 271 days to less than 1 year
  • 4.90% on 1-year FD
  • 5% on period ranging from 1 year to 2 years
  • 5.10% on the period from 2 years to 3 years
  • 5.25% on the period from 3 years to 10 years

For senior citizens, the bank is offering 1 per cent more interest on the period ‘from 5 years to 10 years’, given the 19 circumstances, which will be applicable till 31 March 2021. Senior citizens are getting 0.50 per cent more interest on all other FD tenors.

Baroda Advantage Domestic Non-Collable FD

The interest rates on Baroda Advantage Domestic Non-Collable FDs below Rs 15.01 Lakh to Rs 2 Crores are as follows:

  • 4.95 per cent for 1 year
  • 5.05% for 1 year to 2 years
  • 5.15% for 2 years to 3 years
  • 5.35% for 3 years to 10 years

HDFC Bank Interest Rates

hdfc-
  • 2.50% for 7-29 days duration, 3% for senior citizens
  • 3% for 30-90 days, 3.50% for senior citizens
  • 3.50% for the period ranging from 91 days to 6 months, 4% for senior citizens
  • 4.40% for 6 months, 1 day to less than 1 year, 4.90% for senior citizens
  • 4.90% for 1 to 2 years, 5.40% for senior citizens
  • 5.15% for 2 years, 1 day to 3 years duration, 5.65% for senior citizens
  • 5.30% for a period ranging from 3 years to 1 year, 5.80% for senior citizens
  • 5.50 per cent for a period ranging from 5 years to 1 year to 10 years, 6.25 per cent for senior citizens

Explain that on FDs of ‘5 years, 1 day to 10 years’ period, the bank is currently offering 0.25 percent additional interest rate to senior citizens, in addition to an additional interest of 0.50 percent above the regular rate. This offer is applicable till 31 March 2021.

ICICI Bank Interest Rates

icici-bank-
  • 2.50% on FDs ranging from 7 days to 29 days, 3% for senior citizens
  • 3% on FDs ranging from 30 days to 90 days, 3.50% for senior citizens
  • 3.50% on FDs ranging from 91 days to 184 days, 4% for senior citizens
  • 4.40% on FDs ranging from 185 days to less than 1 year, 4.90% for senior citizens
  • 4.90% on FDs less than 1 year to 18 months, 5.40% for senior citizens
  • 5% on FDs ranging from 18 months to 2 years, 5.50% for senior citizens
  • 5.15% on FDs ranging from 2 years 1 day to 3 years, 5.65% for senior citizens
  • 5.35% on FDs ranging from 3 years to 1 year to 5 years, 5.85% for senior citizens
  • 5.50% on FDs ranging from 5 years 1 day to 10 years, 6.30% for senior citizens

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Source: navbharattimes.indiatimes.com