Bank account holders can lock their money for long durations to make the most of high interest rates. Fixed deposit interest rates in India have recently been on an upward trend.
Credit : PEXELS
Here are 6 banks that offer the highest fixed deposit interest rates:
Credit : PIXABAY
Punjab National Bank
Punjab National Bank is at the top of the list, offering an interest rate of 7.25 percent to regular depositors on 3-year deposits and of 7.75 per cent to senior citizens.
Credit : PEXELS
HDFC Bank
HDFC Bank offers a rate of 7 percent to regular depositors and 7.5 percent to senior citizens.
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ICICI Bank
ICICI Bank also offers an interest rate of 7 percent on 3-year deposits. An extra 50 basis points are offered to senior citizens.
Credit : PIXABAY
Bank of Baroda
Next on the list is Bank of Baroda, which offers 6.75 percent to regular depositors and 7.25 percent to senior citizens.
Credit : PEXELS
State Bank of India & Kotak Mahindra Bank
SBI provides 7 percent to regular depositors and 7.5 percent to senior citizens. Kotak Mahindra Bank also offers the same rate of interest on its 3-year deposits to regular depositors.