Quick Answer: Which Bank Is Safe For FD?

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Compare Interest Rates from different Banks

BANKNormal CitizensSenior Citizens
State Bank of India5.75% – 6.85%6.25% – 7.35%
HDFC Bank3.50% – 7.40%4.00% – 7.90%
ICICI Bank4.00% – 7.50%4.50% – 8.00%
Axis Bank3.50% – 7.60%3.50% – 8.25%

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Which bank is best for FD 2019?

Fixed Deposit Interest Rates Comparison 2020 in India

BankFD Rate of InterestSenior Citizen FD Rates
SBI Fixed Deposit4.00% – 5.90%4.50% – 6.40%
HDFC Bank Fixed Deposit3.50% – 6.25%4.00% – 6.75%
ICICI Bank Fixed Deposit4.00% – 6.40%4.50% – 6.90%
Axis Bank3.50% – 6.50%3.50% – 7.15%

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Which bank is best for fixed deposit?

Fixed Deposit Interest Rates by Top 10 Banks in India

Name of BankFor General CitizensFor Senior Citizens
Canara Bank5.00% to 6.50%5.50% to 7.00%
Axis Bank3.50% to 7.20%3.50% to 7.85%
Kotak Mahindra Bank3.50% to 6.90%4.00% to 7.40%
Bank of Baroda4.50% to 6.60%5.00% to 7.10%

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How safe are fixed deposits in Nationalised banks?

Yes, fixed deposits in public sector banks and private sector banks are very safe. Currently, each depositor is protected up to Rs 1 Lakh by the Deposit Insurance and Credit Guarantee Corporation (DICGC).

Is FD in small finance bank safe?

Small finance banks are giving deposit rates that are higher by 2.5-3 percentage points. Investors need to realize that with higher returns, there are higher risks. Anyone taking a bet on the FDs of small finance banks should restrict their exposure.

Which is better RD or FD?

Although FD earn higher than RD, it’s not feasible for a single product to meet all your needs. When you do not have a lumpsum to invest but can save a defined amount from your income every month, a recurring deposit is a more viable product. But when you have a lumpsum to invest then FD is a wiser choice.

How many years FD will double?

Fixed Deposit: Currently, banks are offering an interest rate of around 6.25 per cent per annum on deposits with a maturity period of more than five years. Invest in an FD now and it will take 11 years for the money to double.