- Axis Bank offers the highest FD interest rate of 5.75% p.a. which is for a tenure of 5 years and above for the general public.
- The second highest interest rate is 5.60% p.a. which is offered by HDFC Bank for a tenure of 5 years and above.
Will FD rates increase in 2022?
The Federal Reserve on Wednesday announced that it is accelerating its removal of monetary support for the economy, citing a rise in inflation that has seen the biggest jump in prices nearly 40 years. In a move to cool growth, policy makers also said they expect to hike interest rates three times in 2022.
Will interest rates go down in 2022?
It's unlikely mortgage rates will go down in 2022. Inflation has been climbing at a record rate over the last few months. And the Fed is planning to wind down its mortgage stimulus and raise interest rates sooner than initially expected. Both these factors should lead to significantly higher mortgage rates in 2022.
Banks Interest for 1 lakh Fixed Deposit Senior Citizen Rates on ₹ 1 Lakh FD
----------------------- --------------------------------- -----------------------------------
Jana Small Finance Bank 2.50% - 6.75% 3.30% - 7.55%
RBL Bank 3.25% - 6.75% 3.75% - 6.80%
India Post Office 5.50% - 6.70% 5.50% - 6.70%
PNB Housing Finance 5.90% - 6.70% 6.15% - 6.95%
What is the interest of 2 lakh in SBI?
Investment Amount For 3 years with interest of 5.4% For 5 years with interest of 5.4%
----------------- --------------------------------- ---------------------------------
₹ 50,000 ₹65459 ₹65459
₹ 1 lakh ₹130917 ₹130917
₹ 2 lakh ₹261834 ₹261834
₹ 5 lakh ₹654586 ₹654586