These 6 banks are giving the highest returns on 3-year FD

FD Rates: The Reserve Bank of India (RBI) has not cut the repo rate for more than two years. However, this year RBI is expected to cut the repo rate. In such a situation, the current time is the best to invest money in fixed deposits. This is because when the repo rate is cut, the banks will reduce the interest rates. That is, the return on FD will decrease. Before the repo rate cut, you can get more interest on your investment by doing FD. We are telling you about those 6 banks which are giving the highest interest on 3-year FD.

These banks are giving great returns

Punjab National Bank is giving the highest interest rate of 7.25 percent to common investors on 3-year FDs. At the same time, senior citizens are being given interest at the rate of 7.75 percent. HDFC Bank is giving 7 percent interest to common people and 7.5 percent interest to senior citizens on 3-year FDs. ICICI Bank also gives 7 percent interest on 3-year FDs, while senior citizens are getting interest at the rate of 7.5 percent. Bank of Baroda is giving 6.75 percent annual interest on 3-year deposits and 7.25 percent interest to senior citizens. State Bank of India (SBI) is giving 7 percent interest to general citizens and 7.5 percent interest to senior citizens. Kotak Mahindra Bank is also giving 7 percent interest to general people and 7.6 percent interest to senior citizens on 3-year deposits.

Two private banks increased interest rates on FD

ICICI Bank has revised the interest rates on fixed deposits from July 2. The new interest rates range from 3 per cent to 7.20 per cent for general citizens and from 3.5 per cent to 7.75 per cent for senior citizens. Axis Bank has also revised the interest rates on fixed deposits from July 1. The interest rates range from 3 per cent to 7.2 per cent for general citizens and from 3.5 to 7.75 per cent for senior citizens.