Fixed-deposit schemes will never go out of fashion among investors who are looking for a reliable, consistent, and long-term return on investments. The financial tool is beneficial for even those who want to invest money in a low-risk investment tool for a shorter duration, like one, three, or six months.
Fixed deposits (FDs) emerge as a better option compared to savings accounts. People can earn an interest of up to 8% on their money for a duration of one year to five years. FDs can be a good option for investors who are looking for a safe haven for their contingency fund.
How to find the best FD rates?
Before investing in an FD, people must compare the interest rates of different banks. FDs in banks like ICICI, SBI, PNB, and HDFC can offer decent interest and higher safety. Here is a comparison of these banks’ FD rates.
ICICI Bank
The interest rates are applicable for FD amount less than ₹3 crore.
SBI Bank FD rates
SBI Bank FD rates are application on amount less than ₹3 crore.
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