FD Interest rate: These banks are giving the highest interest on 5-year FD, take advantage of the opportunity

 FD Interest rate: Everyone thinks about investing for the future. There are many investment options available in the market today. But when it comes to safe investment, everyone prefers to invest in FD i.e. Fixed Deposit (Investment in FD). If you are also going to invest in FD, then at this time many banks of the country are offering great interest on five-year FD.

RBI i.e. Reserve Bank has recently cut the repo rate by 5.5 percent for the third consecutive time. This decision of RBI has brought relief to the loan holders. But along with this, the government and private banks of the country have also reduced their FD interest rates.

RBI’s Monetary Policy Committee (MPC) cut the repo rate by 50 basis points on June 6. Changes in the repo rate have a direct impact on the interest rate on FD and savings account. However, even after reducing the repo rate, there are many banks in the country which are giving strong interest to investors. Today we will tell you about those banks which are currently offering the highest interest on five-year FD.

SBI is giving this much interest-

The country’s largest bank, State Bank of India (SBI FD Scheme), has reduced its FD rates from 6.5 percent to 6.25 percent for a period of one to two years. Accordingly, HDFC Bank, Bank of Maharashtra, Axis Bank and other banks have also reduced their FD rates to 6.25 percent on deposits up to Rs 3 crore for a period of one year (FD Tenure).

You will get this much interest every year-

Apart from this, for five years, SBI is offering an interest rate of 6.05 percent per annum (FD interest rate). While HDFC is giving a return of up to 6.4 percent. Other banks are also giving returns in the same range. Because of this, investors who are planning to invest money in FD (FD Investment plan) should definitely see whether the returns from FD match their financial goals or not.

You will get this much interest on investing Rs 5 lakh-

For example, if you have invested Rs 5 lakh in HDFC Bank FD Scheme for five years, then let’s see how your fund is going to grow. HDFC is offering up to 6.4 percent interest on Rs 5,00,000. In five years (5 Year FD Scheme), you will get an interest of Rs 1,86,823 on Rs 5 lakh. That is, after 5 years, you will be given a total of Rs 6,86,823.



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