State Bank of India (Rates on deposit of less than Rs 2 Crores) Therefore, in this article, we have four banks offering the FD with their interest rates However, before making any investment, it is necessary to compare the FD rates of various banks. Senior citizens also get an extra 0.5 percent interest rate. Many banks offer interest rates between 3 and 7 percent, depending on how long you invest your money.
It is considered a low-risk investment that lets you put your spare money aside for a set period and earn a fixed rate of interest on it at regular times during the chosen period or at the end. Fixed Deposit (FD), also known as a time deposit or term deposit, is a common way to invest money.
