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Investing in fixed deposits? HDFC Bank vs ICICI Bank vs Axis Bank vs YES Bank rates compared - check details
Fixed deposits or FDs are one of the most popular financial instruments where the traditional investors put money for better than average returns and thereby increase their wealth with time.
Fixed deposits or FDs are one of the most popular financial instruments where the traditional investors put money for better than average returns and thereby increase their wealth with time. This is popular among some investors because of fixed returns offered. One can open FDs at any bank. They can do it online or offline. However, the most important part is what kind of monetary gains will investors in FDs get? Here we present the best FD rates offered by HDFC Bank, ICICI Bank, Axis Bank, Bandhan Bank, YES Bank, and Kotak Mahindra Bank.
HDFC Bank FDs:
The bank offers fixed deposits for various tenures and varied amounts. HDFC Bank offers 8.08 percent annual interest on FDs for the period of 33 months and 66 months. For the 15 months fixed deposit, the bank offers 7.93 percent yearly interest, while for 22 months deposit it offers 8.03 percent annually. For 30 months deposit, the bank offers the interest of 7.98 percent. One has to make a fixed deposit of Rs 20,000.
ICICI Bank FDs:
The bank offers varied interest rates for different tenures. For 7 days to 14 days fixed deposit, the interest rate is 5.75 percent. For 1 year to 389 days, the bank offers 7.40 percent. For 15 months to 18 months FDs, the interest rate is 7.3 percent. The interest rate for 2 years 1 day to 3 years deposit is 7.3 percent. The bank offers 7 percent interest on 5 years 1 day and up to 10 years fixed deposits.
Axis Bank FDs:
The bank offers a fixed deposit with a minimum amount of Rs 5,000 for a flexible tenure starting from a minimum of 7 days to a maximum of 10 years. For 7 days to 14 days fixed deposits, the bank offers 3.5 percent interest rate. For the fixed deposit of 1 year and 13 months, the bank offers 7.3 percent interest rate. For 14 months to 2 years deposit, the interest rate is 7.3 percent. For the fixed deposit of 5 years to 10 years tenure, the bank offers 7 percent interest rate.
Bandhan Bank FDs:
For the 7 days to 14 days term deposit, the interest rate is 3.5 percent, while for 15 days to 30 days it is 4.00 percent. For 1 year to 18 months fixed deposits, the interest rate is 7.35 percent. For above 18 months to less than 2 years, it is 7.65 percent. The interest rate for 5 years to less than 7 years is 7.50 percent.
YES Bank FDs
The bank offers you a range of Fixed Deposit schemes that give you a good rate of interest and security. For 7 to 45 days, the fixed deposit interest rate is 5 percent, while for 1 year to less than or equal to 10 years the interest rate is 7.25 percent.
Kotak Mahindra Bank FDs:
For the period of 7 - 14 days, the fixed deposit interest rate would be 3.5 percent. For the period of 1 year fixed deposit, the interest rate is 7.23 percent. For 12 months 25 days fixed deposits, the interest rate is 7.50 percent. Fixed deposits for the tenure of 4 years and above but less than 5 years, the interest rate is 7.19 percent. For details, one may visit the bank's official website - kotak.com.
NOTE: All information taken from websites of respective banks.
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