One of the best ways to secure your money is by investing in fixed deposits which not only helps you to save money but also helps you to earn a substantial interest in it. Competitive Bank FD interest rates help the depositor to get a good Return on Investment over a fixed tenure. Under the fixed deposit scheme, the depositor deposits the money only once at the time of opening the account. The interest rates offered depend on the bank, the deposit amount, and the tenure you choose.
At the end of the tenure, the interest accrued is calculated on the principal amount, and the total amount is paid back to the depositor. The tenure of fixed deposits may range from 7 days to 10 years. In the next section, we have enlisted some banks offering competitive interest rates.
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