Recently, the interest rates for Fixed Deposit, which is also known as FD, have been revised for HDFC and Yes Bank, which hints that the FD returns could be changed. Therefore, it is advised that people must check out the Post Office’s National Time Deposit Account before investing in the coming times.
Earn Up to 7.5 percent Interest on National Savings Time Deposit Account -
The latest scheme is somewhat similar to the traditional FD method, which states that you have to invest in a certain account and will receive guaranteed returns. An interest rate of approximately 6.9 percent to 7.5 percent for tenures between 1 and 5 years will be offered for the Time Deposit Account.
Under this investment method, the investment starts from ₹1,000, and there is no upper limit for the maximum investment.
Here is the list of a few banks with current interest rates and its comparison with the National Time Deposit Account by the Post Office.
Interest rate on FDs for 1 year -
HDFC will offer an interest rate of 6.6%
ICICI will offer an interest rate of 6.70%
SBI will offer an interest rate of 6.80%
Punjab National Bank (PNB) will offer an interest rate of 6.80%
National Savings Time Deposit Account will offer an interest rate of 6.90%
Yes Bank will offer an interest rate of around 7.75%
The interest rate on FDs for 2 years -
Punjab National Bank (PNB) will offer an interest rate of 6.80%
SBI will offer an interest rate of 7.00%
National Savings Time Deposit Account will offer an interest rate of 7.00%
HDFC will offer an interest rate of 7.00%
ICICI will offer an interest rate of 7.25%
Yes Bank will offer an interest rate of 7.25%
The interest rate on FDs for 3 years -
SBI will offer an interest rate of 6.75%
PNB will offer an interest rate of 7.00%
HDFC will offer an interest rate of 7.00%
ICICI will offer an interest rate of 7.00%
National Savings Time Deposit Account will offer an interest rate of 7.10%
Yes Bank will offer an interest rate of 7.25%
The interest rate on FDs for 5 years -
SBI will offer an interest rate of 6.50%
PNB will offer an interest rate of 6.50%
HDFC will offer an interest rate of 7.00%
ICICI will offer an interest rate of 7.00%
Yes Bank will offer an interest rate of 7.25%
National Savings Time Deposit Account will offer an interest rate of 7.50%