Amid these testing instances of a susceptible international economic system, are you searching for some protected funding schemes? Put your worries apart because the nation’s prime 5 banks are providing assured, common rates of interest on fastened deposit (FD) schemes. The State Bank of India, ICICI financial institution, HDFC financial institution, Axis Bank, and Kotak Mahindra Bank present annual returns ranging between 2.50-5.50 per cent for most of the people, and a couple of.50-6.00 for senior residents on fastened deposits as much as Rs 2 crore. A set deposit is taken into account to be a protected and dependable funding scheme because it permits the depositor to save lots of a selected amount of cash within the financial institution for a set tenure, often known as a lock-in interval. Once the tenure ends, the depositor receives the quantity that was invested together with sure compound curiosity.
Here are the present rates of interest supplied by the nation’s prime banks: