Yearbook of savings, take a look at which private bank is paying the highest interest on fixed deposit!

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#NewDelhi: One of the most traditional and popular investments in India is the Fixed Deposit. But now everyone is shifting from fixed deposits to other investments. The main reason for this is that Indian banks have lowered interest rates on fixed deposits. Almost every bank has fixed their interest rates, as these interest rates depend on the repo rate of the Reserve Bank of India. The Reserve Bank of India fixes this repo rate per quarter. But the repo rate has not changed in the last few quarters. The repo rate remains at 4 percent. As a result, it is not possible for banks to raise interest rates on fixed deposits and savings accounts.

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At present, some private banks are offering higher interest rates than government banks. Some private banks are offering higher interest rates on fixed deposits. Let’s take a look at the amount of interest on fixed deposits in some private banks.

– Induslnd Bank Giving 6 percent interest on 1 year fixed deposit. The private bank also offers 6 per cent interest on 2-year and 3-year fixed deposits.

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– RBL Bank Giving 6 percent interest on 1 year fixed deposit. The private bank also offers 6.30 per cent interest on 2-year and 3-year fixed deposits.

– DCB Bank It pays 5.55 percent interest on 1 year fixed deposit. The private bank also offers 5.95 per cent interest on 2-year and 3-year fixed deposits.

– SRM Bank India 6.05 percent interest on 1 year fixed deposit. The private bank also offers 7.50 per cent interest on 2-year fixed deposits and 6 per cent interest on 3-year fixed deposits.

– Axis Bank It pays 5.10 percent interest on 1 year fixed deposit. The private bank also offers 5.40 per cent interest on 2-year fixed deposits and 5.75 per cent interest on 3-year fixed deposits.

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In addition, all these private banks offer higher interest rates of 0.50% for senior citizens. But the amount of interest may vary from bank to bank. Also the amount of interest often depends on the amount of money in the fixed deposit.

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