Bank FD rates: All you need to know before making an investment

Bank FD rates: All you need to know before making an investment

Fixed deposits (FDs) become the first choice of investors when it comes to risk-free investment. Many lenders give liberty to their customers for opening short-term, mid-term, or long-term FDs.

Those who want to make investments can do the same according to their investment requirements. But before investing in FD, one should compare interest rates being given on an offer.

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Interest Rates on SBI FD

SBI FD may take any time between 7 days and 10 years for maturity. It depends upon the requirement of the investments. The interest rates on SBI FD may vary from 2.9 percent to 5.4 percent for general customers. SBI has started offering these interest rates from January 8, 2021.

Interest Rates on Yes Bank FD

Yes Bank has many fixed deposit (FD) schemes for the general public including regular and senior citizens. The bank gives any interest rate between 3.50 percent and 6.75 percent on deposits. Yes Bank FDs take any time between seven days to ten years to get matured. The new interest rates are effective from February 8, 2021.

Interest Rates on Kotak Mahindra Bank FD

Kotak Mahindra Bank offers an interest rate between 2.50 percent to 5.25 percent on fixed deposits. The new interest rates are applicable from February 4, 2021.

Interest Rate on Canara Bank FD

Canara Bank offers an interest rate ranging from 2.95 percent to 5.5 percent. The tenure of the Canara Bank FD may vary between 7 days to 10 years. The new interest rates have come into effect from February 8, 2021.

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