In the realm of savings and investments, options abound, including equities, mutual funds, debt instruments, small savings schemes, and fixed deposits (FDs). A fixed deposit, a popular fixed-income instrument, offers returns based on its prevailing interest rates. In this article, we will delve into a detailed comparison of the current FD interest rates provided by three leading banks: HDFC Bank, Punjab National Bank (PNB), and ICICI Bank, focusing on deposits below Rs 2 crore.
HDFC Bank Fixed Deposit Interest Rates
HDFC Bank is a prominent player in the banking sector, known for offering competitive FD interest rates. The bank provides a range of interest rates, with the maximum rate going up to 7.75%, based on the deposit tenure and the depositor’s age. Let’s take a closer look at the latest interest rates for fixed deposits (per annum) at HDFC Bank for deposits below Rs 2 crore:
| Tenure | General Public (%) | Senior Citizens (%) |
|---|---|---|
| 7 days to 14 days | 3.00 | 3.50 |
| 15 days to 29 days | 3.00 | 3.50 |
ICICI Bank Fixed Deposit Interest Rates
ICICI Bank, a renowned name in the banking industry, also offers attractive FD interest rates. The bank’s interest rates are tailored to suit various preferences and deposit periods. Here are the current interest rates for fixed deposits (per annum) at ICICI Bank for deposits below Rs 2 crore:
| Tenure | General Public (%) | Senior Citizens (%) |
|---|---|---|
| 7 days to 14 days | 3.00 | 3.50 |
| 15 days to 29 days | 3.00 | 3.50 |
PNB Fixed Deposit Interest Rates
Punjab National Bank (PNB) is another significant player in the banking sector, offering competitive FD interest rates. PNB caters to a diverse clientele with its range of interest rates. Here are the latest interest rates for fixed deposits (per annum) at PNB for deposits below Rs 2 crore:
| Tenure | General Public (%) | Senior Citizens (%) |
|---|---|---|
| 7 days to 14 days | 3.50 | 4.00 |
| 15 days to 29 days | 3.50 | 4.00 |
In conclusion, choosing the right bank for your fixed deposit involves considering various factors, including the interest rates and the depositor’s age. HDFC Bank, ICICI Bank, and PNB each offer competitive FD interest rates, making them noteworthy options for individuals seeking to grow their savings.