Public sector lender Punjab National Bank (PNB) has revised its fixed deposit (FD) rates with effect from November 1, 2018. Fixed deposits (FDs), also known as term deposits, are secure financial instruments, which offer guaranteed returns. PNB has introduced a special fixed deposit scheme for 555 days effective for a period of November 2018 to March 2019, the lender noted on it's official website- pnbindia.in. Recently, private lenders such as HDFC Bank and Canara Bank also revised their fixed deposit rates.
Public sector lender Punjab National Bank (PNB) has revised its fixed deposit (FD) rates with effect from November 1, 2018. Fixed deposits (FDs), also known as term deposits, are secure financial instruments, which offer guaranteed returns. PNB has introduced a special fixed deposit scheme for 555 days effective for a period of November 2018 to March 2019, the lender noted on it's official website- pnbindia.in. Recently, private lenders such as HDFC Bank and Canara Bank also revised their fixed deposit rates.
In a FD account, an investor can park a lump sum amount and avail features like guaranteed returns and choice of interest payout. FD interest rates vary from one bank to another, depending on factors such as the term of the fixed deposit. It may be noted that banks offer a slightly higher interest rate on FDs to senior citizens.
Here's a comparison of interest rates offered by PNB Bank, SBI, HDFC Bank and ICICI Bank on fixed deposits up to Rs 1 crore:
PNB Bank
The following FD interest rates are applicable on deposits below Rs 1 crore, according to the bank's website - pnbindia.in:
State Bank of India (SBI)
The following FD interest rates are applicable on deposits below Rs. 1 crore, according to the bank's website - sbi.co.in:
HDFC Bank:
The following FD interest rates are applicable on deposits below Rs. 1 crore from November 6, 2018, according to the bank's website - hdfcbank.com:
ICICI Bank
The following FD interest rates are applicable on deposits below Rs. 1 crore, according to the bank's website- icicibank.com:
Besides banks, post offices and companies also offer fixed deposits. However, corporate fixed deposits do not guarantee an assured interest income.
Sign Up with Google
RECOMMENDED FOR YOU
POPULAR