Fixed deposit investments are the best option for low-risk investors. With high returns on their investments, they do not have to worry about losing money like in stock markets. Here the profit is fixed and the invested amount is safe. These days, after multiple repo rates hike from RBI, several major banks are offering FD interest rate of up to 7 per cent.
These Are The Government Banks Offering FD Interest Rate Up To 7 Percent:
Union Bank of India
On maturity period of 599 days, the Union Bank of India is offering an FD interest rate of 7 per cent. The modified interest rates are applicable on the FDs that are valued under ₹2 Cr. further details of this FD tenure are provided on the official website of the bank.
Bank of India
Bank of India is offering interest rates varying between 7.25 per cent to 7.75 per cent on a special FD scheme called ‘Star Super Triple Seven Fixed Deposit’. This scheme is valid for senior citizens and has a tenure period of 777 days.
“Canara Bank has a special fixed deposit plan for a tenure of 666 days. The general public will be able to earn an interest rate of 7 per cent, while senior citizens will receive an interest rate of 7.5 per cent on fixed deposits,” mentioned News18.
Single domestic term deposit rates of PNB were revised on October 26. Now the bank has offered a 7 per cent interest rate on the General Deposit plan valuing under ₹2 Cr for which the tenure period is 600 days. As for senior citizens, the interest rates are higher by 50 bps to 7.50 per cent.