When it comes to investing in India, bank fixed deposits (FDs) continue to be the most popular investment option. The fixed deposit (FD) interest rates have been rising since May 2022. Not only salaried class, or senior citizens, even millennials are in investing in term deposits. Watch Business Today s Visual Story on the latest FD rates and best schemes available.
Several banks have revised their interest rates and are offering attractive inflation-beating fixed deposit rates. Senior citizens are offered a wide range of benefits under FD schemes, besides the additional 0.50 per cent interest rate that most banks offer. Watch Business Today s to look at some of the best FD schemes currently available for senior citizens.
Post office small savings schemes: TThe Senior Citizen Savings Scheme (SCSS) is one of the most popular small savings schemes backed by the government, which offers a higher rate of interest than most other savings schemes. It is considered to be a safe and secure investment option for senior citizens, which offers them a regular income stream in their golden years. Watch Business Today’s Visual Story to know more details about the Senior Citizen Savings Scheme.
Latest bank FD rates: What SBI, ICICI, HDFC Bank, Axis Bank, PNB offer
Excess cash with banks averaged Rs39,700 crore ($6.2 billion) last week, compared to a peak of more than 5 trillion rupees in March, according to Bloomberg Intelligence India Banking Liquidity Index. Photo: Hemant Mishra/MintPremium
6 min read
It s better to compare the FD interest rates offered by various banks
Share Via
Read Full Story
State Bank of India (SBI), HDFC Bank, ICICI Bank and Axis Bank offer fixed deposits (FDs) for tenures ranging from 7 days to 10 years. It s always important to compare the FD interest rates offered by various banks before parking your money any FD deposit. SBI and Axis Bank revised the interest rates on term deposits this month. Let s take a look at the latest FD interest rates offered by SBI, ICICI Bank, HDFC Bank, Axis Bank and Punjab National Bank (PNB)