Some banks are offering interest rates as high as 9 percent on Fixed Deposits (FDs). However, large section of banks offering lower interest rates on their FDs.
For majority of investors fixed deposits (FDs) have become unattractive investment option because of declining interest rates fixed deposits (FDs) after the Reserve Bank of India's (RBI) current interest rate cuts. Key banks like State Bank of India (SBI) and HDFC Bank are offering interest rates between 4 percent and 6 percent on fixed deposits.
Also read: Which bank is best for fixed deposit: Check out interest rates of top five banks
There is no need to get disappointed if you can’t think about putting your money in a saving instrument other than an FD. You can still get better options in FD itself.
Here are the banks where you can get higher returns on fixed deposits
Some banks are offering interest rates as high as 9 percent, but it is also true that a majority of banks are currently offering lower interest rates on their FDs.
Source: Banks websites
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