FD Update: From SBI to ICICI Bank, where can you earn the most interest on a 3-year FD?
Best 3-Year FD Rates: Fixed deposits (FDs) are still considered one of the most reliable investment options in the country. Investors of all ages prefer them due to their guaranteed and secure returns. From tax savings to building an emergency fund, FDs offer numerous benefits. They are useful for both short-term and long-term investments. If you're considering an FD, be sure to compare interest rates from different banks before investing. Rates may appear slightly different, but this small difference can make a significant difference in your earnings.
Here are the 3-year fixed deposit interest rates from some leading private and public sector banks, for investments up to ₹1 crore. These figures are as of September 22nd and apply to non-senior citizens. We've also calculated returns on an investment of ₹1 lakh.
IndusInd Bank: 6.65% interest rate, FD of Rs 1 lakh will become Rs 1,19,950 after three years.
ICICI Bank and Axis Bank: 6.6% interest rate, an FD of Rs 1 lakh will become Rs 1,19,800 in three years.
Kotak Mahindra Bank and HDFC Bank: 6.4% interest rate, an FD of Rs 1 lakh will become Rs 1,19,200 after three years.
Bank of Baroda and Union Bank of India: 6.4% interest rate, an FD of Rs 1 lakh will become Rs 1,19,200 in three years.
State Bank of India (SBI): 6.3% interest rate, FD of Rs 1 lakh will become Rs 1,18,900 after three years.
Canara Bank and Punjab National Bank: 6.25% interest rate, FD of Rs 1 lakh will grow to Rs 1,18,750 in three years.
Up to Rs 5 lakh will be recovered if the bank collapses.
Under the Deposit Insurance and Credit Guarantee Corporation Act (DICGC), customers' deposits up to Rs 5 lakh will be protected in the event of a bank's closure or collapse. If you have money deposited in a bank, you can check whether it is registered for deposit insurance by clicking on the link below...
Here's the link: https://www.dicgc.org.in/FD_ListOfInsuredBanks.html
Disclaimer: This content has been sourced and edited from News 18 hindi. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.
