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Basics-of-Banking--insurance-2013-->View question


Asked On2017-10-27 14:31:37 by:Ashwath-Shetty

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here have been back to back changes in the interest rates by the Reserve Bank of India, which is good news for people investing in FDs.

A fixed deposit is the simplest form of financial investment. You can create a fixed deposit with a bank or NBFC (Non-Banking Financial Institution) as per your convenience. The rate of interest paid on fixed deposits is higher than the interest paid on the savings bank account.

SBI's interest rate on regular FDs ranging from 6.7 to 6.75 percent per annum and PNB's interest rate for similar FDs is 6.75 percent. Private Banks like ICICI Bank offer returns at 6.6 to 6.75 percent and HDFC Bank offers interest on FDs at the rate of 7.25 percent.




Answerd on:2019-06-19 Answerd By:avi738

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Generally the rate of interest for fixed deposit should increase with the increase in tenor                                                              

Answerd on:2018-06-05 Answerd By:Vishu-vashistha

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