Fixed Deposits are considered to be the safest and liquid asset class in India even today.This is because the returns are guaranteed and they can be withdrawn on any business day. Though there will be some penalty on premature closure, retirees and savy investors prefers Fixed deposits to any other saving instrument. This is due to the traditional habit of making fixed deposits in banks from so many years, they develop faith on bank FD’s.
Even though the interest income is taxable, still there are unique set of savers who prefers FD’s till date. For their convenience bank-info.in is providing interest rates of FD’s of various banks at a glance; have a look-
|Bank Name||6 Months-1 Year||1 Year-2 Years||2 Year-3 Years||3 Years-5 Years||Above 5 Years|
|State Bank of India||4.40||5.00||5.10||5.30||5.40|
|Union Bank of India||4.30-4.40||5.00-5.10||5.10-5.30||5.30-5.40||5.40|
|Karur Vysa Bank||3.75-4.25||5.25||5.50||5.50||5.75-6.00|
These are the applicable interest rates data gathered from the official websites. It may subject to change as per the banks discretion without prior notice.
The above data is only for informative purpose only, So before making FD in concerned bank, consult the bank branch , verify with their data base and do FD’s as per your interest!