Fixed Deposite - The plan to get FD is yours, so know where to invest will be more beneficial for you

Fixed Deposite - The plan to get FD is yours

Let us tell you that along with investing in FD, you get good returns as well as being safe. However, the interest rate on FDs of different banks will be seen differently. In such a situation, it is very important for you to have a piece of good knowledge about the interest rates of banks.

Investing in Fixed deposits (FD) in banks has always been the choice of many people. In this, along with the safety of investment, good returns are also available. However, let us tell you that the interest rate on FDs of different banks is also different and it is fixed every year. In such a situation it is very important for you to be aware of the interest rates of banks.

Friends, recently SBI, HDFC, ICICI and Axis Bank have made a lot of changes in the interest rate of fixed deposits. The central government has not made any cut in the interest rate of small savings schemes for the July-September quarter and in such a situation, the same interest will continue to be available in post office time deposits. Let us tell you where how much interest is given on FD.

A higher interest rate is being given on FD in the post office

In the post office, you are getting a 5.30 per cent interest rate on FDs of two and three years, while for five years FDs you are getting 6.70 percent interest rate. SBI is getting 5.10 percent for two-year FD at the interest rate, 5.30 percent for three years and 5.40 for five years. And let us tell you that HDFC Bank is giving 4.90 percent on two-year FD, 5.15 percent on three years and 5.50 percent interest rate on five years.

Axis Bank is getting 5.25 percent interest rate on two to three year FD while 5.75 percent interest rate is being available on 5 year FD. At the same time, ICICI Bank is giving 5 percent on two-year FD, 5.15 percent for three years and 5.35 percent interest rate on five-year FD.

Get tax exemption and benefits in five year FD

You can get tax exemption and benefit on FD of five years. This FD can also be called tax saving FD and by investing in it, one can avail tax exemption up to Rs 1.5 lakh.