Which national bank are providing highest rate on fixed deposit?
According to announcement of Punjab national bank, it will increase rate on fixed deposit up to 5.30% per annum for individual.
any body who know the better rate on FD from national bank please share in the comment.
Punjab National Bank (PNB), HDFC and ICICI have recently increased the interest on fixed deposits i.e. FD. However, even after this increase, you will be able to get only 5 to 6% interest on FD. In such a situation, if you want more interest than this, then you can invest in National Savings Time Deposit Scheme. It is getting 6.7% interest.
Where is the interest available on 1 year FD
Bank Interest Rate (in %)
Time Deposit 5.50
HDFC 5.35
ICICI 5.35
SBI 5.30
PNB 5.30
Interest on FD of 2 years
Bank Interest Rate (in %)
Time Deposit 5.50
SBI 5.35
PNB 5.45
HDFC 5.35
ICICI 5.35
Interest on FD of 3 years
Bank Interest Rate (in %)
Time Deposit 5.50
SBI 5.45
HDFC 5.50
PNB 5.50
ICICI 5.50
Interest on FD of 5 years
Bank Interest Rate (in %)
Time Deposit 6.70
SBI 5.50
HDFC 5.70
PNB 5.75
ICICI 5.70
Investment for 5 years gets the benefit of tax exemption
By investing in this time deposit scheme and FD for 5 years, one can avail tax exemption under section 80C of the Income Tax Act 1961. Under this, you can take advantage of income tax exemption on investment up to Rs 1.50 lakh.
