TOP 5 BANKS OFFERING HIGHEST FD RATES FOR 3-YEAR DEPOSITS
Published By Moushumi Mahanta | 12 Aug, 2024
Before opening an FD, depositors often compare interest rates between banks. Generally, banks offer higher interest rates for longer-term deposits and lower rates for shorter-term ones.
Credit : PEXELS
Here are some banks with the highest interest rates on FDs:
Credit : PEXELS
HDFC Bank
HDFC Bank offers a 7% interest rate on 3-year fixed deposits, with senior citizens receiving 7.5%. The highest rate of 7.4% is available for a tenure of 4 years and 7 months, effective from July 24, 2024.
ICICI Bank
It offers 7% interest rate on 3-year fixed deposits, increasing to 7.5% for senior citizens. The highest rate of 7.25% is offered for deposits with tenures between 15 months and 2 years, effective from August 10, 2024.
State Bank of India
SBI offers a 6.75% interest rate on 3-year fixed deposits, with senior citizens earning 7.25%. For deposits with a tenure between 2 and 3 years, the rate is 7%, effective from June 15, 2024.
Bank of Baroda
Bank of Baroda provides a 7.15% interest rate on 3-year fixed deposits, rising to 7.65% for senior citizens, with these rates effective from July 15, 2024.
Kotak Mahindra Bank
The bank offers a 7% interest rate on 3-year fixed deposits and 7.6% for senior citizens. The highest rate of 7.4% is available for deposits with tenures of 390 and 391 days, effective from June 14, 2024.