#1
5th January 2016, 06:46 PM
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Highest interest rate fixed deposit
Hello sir I want to know about eth Highest interest rate of fixed deposit amount so please provide me suitable information about the same.
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#2
5th January 2016, 06:47 PM
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Re: Highest interest rate fixed deposit
Fixed Deposit, also called Term Deposit is an investment where the interest rate is guaranteed not to change for the nominated term. Fixed Deposit Interest Rates: The highest interest rate is offered by The Ratnakar Bank at 9.0% for 24 to 36 months Fixed Deposit. For comparing the best interest rates on fixed deposits over different duration of investment, we have it divided into following 4 slabs: FD for Less than 1 Year FD for 1 to 2 years FD for 2 to 5 Years FD for More than 5 years Fixed Deposit Highlights: Most banks offer FDs for tenure of 7 Days to 10 Years. Some banks like The Ratnakar Bank, IDBI Bank and State Bank of Patiala do offer fixed deposits up to 20 years too. For very short Term Deposits the interest rate is similar to that of Savings Account and so you should not worry about FD. Also Interest up to Rs 10,000 in Saving Account is Tax free. Most banks compound interest quarterly Banks offer Loan/Overdraft against the amount available in Fixed Deposit. The interest is generally 0.5% to 1% more than that offered to FD. TDS (Tax deduction at source) at the rate of 10% is deducted, if the interest income is more than Rs 10,000 in financial year per bank There might be penalty for pre-mature withdrawal of Fixed Deposits Interest Rate for FD of Less than 1 Year: The highest interest rate is offered by Indus Ind Bank (270 days to to below 61 months) and The Ratnakar Bank (241 days to 364 days) at 8.25%. Bank Description Interest Rate The Ratnakar Bank 241 days to 364 days 8.25% DCB Bank 6 months to less than 12 months 8.00% State Bank of India Government Bank Benchmark 5.25% – 7.00% ICICI Bank Private Bank Benchmark 4.00% – 7.50% |
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