Many banks, including PNB, ICICI and Axis, have revised their interest rates on FDs.

Many banks, containing PNB, ICICI and Axis, have revised their interest rates on FDs.


HDFC, ICICI, Indian Overseas Bank, Punjab National Bank, Axis and Kotak Mahindra Bank have changed interest rates on Fixed Deposit (FD) after the RBI correct the repo rate. In that case, if you are planning to do FD these days, you require  to know about the new rates. This will permit you to get a higher return on your investment.


View here why it would be more beneficial to get FD now because of  change in interest rate.


Interest on one year FD

Bank interest rate (in%)

ICICI 5.00

SBI 5.10

HDFC 5.10

Punjab National Bank 5.10

Indian Overseas Bank 5.15

Axis 5.25

Canara Bank 5.30

Kotak Mahindra 5.40

Post Office 5.50


Interest on 2 year FD

Bank interest rate (in%)

ICICI 5.00

SBI 5.20

HDFC 5.10

Indian Overseas 5.20

Post Office 5.50

Punjab National Bank 5.10

Axis 5.60

Kotak Mahindra 5.60

Canara Bank 5.45


Interest on 3 year FD

Bank interest rate (in%)

ICICI 5.20

SBI 5.30

HDFC 5.30

Indian Overseas 5.45

Post Office 5.50

Punjab National Bank 5.10

Axis 5.60

Kotak Mahindra 5.75

Canara Bank 5.70















Interest on 5 year FD

Bank interest rate (in%)

SBI 5.40

HDFC 5.45

Indian Overseas 5.45

ICICI 5.45

Post Office 6.70

Punjab National Bank 5.10

Axis 5.75

Kotak Mahindra 5.75

Canara Bank 5.75


 Click Here TO Read In Gujarati


Interest earned from FD is even taxable

If the interest earned on a bank FD is less than Rs 40,000 in a financial year, no tax will have to be given on it. This limit is for person under 60 years of age. Even, income up to Rs. 50,000 from FD of senior citizen above 60 years of a age is tax free. 10% TDS is debited  on income above that.



Comments

Popular posts from this blog

Bharatno No Sanskrutik Varso Pdf Download In Gujarati

Gujarati Ukhana With Answer Pdf Book Download 2020

MapmyIndia Move Maps | Navigation And Tracking Application