Because of Coronavirus, interest on large bank saving account and fixed deposits is diminishing continuously. Unless you are thinking of earning more interest through FD in such a situation, then having FD in those banks won’t be a better choice for you. Here the FD interest rates are about 9 per cent.
The entire country is going through an epidemic due to Coronavirus. The economy has staggered due to the lockdown. There has been a shortage of cash in the market and large bank savings accounts and interest on fixed deposits are continuously reducing. SBI (SBI-State Bank of India) decided to reduce interest rates on FD in the last week. The bank reduced the interest rates on all term FDs by 0.40 per cent (SBI FD New Rates 2020). Apart from this, the government is also regularly cutting the small savings scheme interest rates.
In such a situation, if you are thinking of earning more interest through FD, then getting FD in these banks will not be a better option for you. But today we are going to tell you about some such banks, where the interest rates on FD are still close to 9 percent. That is, you can earn better by getting FD in these banks.