Fixed deposits (FDs) are renowned for providing liquidity and a guaranteed income stream through regular interest payments. They serve as a reliable option for building an emergency fund, offering stability and assurance. Here, we present the top 10 banks offering attractive interest rates on two-year FDs, ensuring your money works harder for you.
Axis Bank and ICICI Bank
For those preferring private sector banks, Axis Bank and ICICI Bank provide competitive rates of up to 7.10 percent on two-year FDs. A Rs 1 lakh investment would grow to Rs 1.15 lakh within the same period.
Bank of India
Bank of India stands out among public sector banks, offering interest rates of up to 7.25 percent on two-year FDs. Investing Rs 1 lakh here would yield a return of Rs 1.15 lakh in two years.
HDFC Bank and State Bank of India (SBI)
HDFC Bank and SBI, two banking giants, offer interest rates of up to 7 percent on two-year FDs, ensuring steady growth of your investment to Rs 1.15 lakh over two years.
Canara Bank and Bank of Baroda
Canara Bank and Bank of Baroda present attractive rates of up to 6.85 percent on two-year FDs. Investing Rs 1 lakh in either bank would result in a return of Rs 1.15 lakh after two years.
Punjab National Bank
Punjab National Bank provides an interest rate of up to 6.80 percent on two-year FDs, with a Rs 1 lakh investment maturing to Rs 1.14 lakh in two years.
Indian Bank and Union Bank of India
Indian Bank and Union Bank of India offer interest rates of up to 6.50 percent on two-year FDs, providing a growth opportunity for your investment to reach Rs 1.14 lakh in two years.
Secure Investments with DICGC Protection
It’s worth noting that the Deposit Insurance and Credit Guarantee Corporation (DICGC), a subsidiary of the RBI, safeguards investments in fixed deposits of up to Rs 5 lakh, providing an added layer of security and peace of mind.
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