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Nowadays, there are countless investment options available, such as SIPs, RDs, mutual funds, gold ETFs, bonds, and many more. Yet, the common man's first choice remains the old and reliable option, bank fixed deposits (FDs). The reason for this is clear: FDs provide safe and secure financial security, pre-determined returns, and are not affected by market fluctuations.

Currently, many banks are offering up to 7% interest on FDs for ordinary citizens (under 60 years of age), which is considered quite attractive. Let's find out which banks are currently offering the highest returns and which FD option can increase your earnings.

Banks are constantly changing FD rates; investors need to stay updated.
While major banks have slightly reduced their interest rates in the past few months, some small finance banks and private banks are still offering attractive rates. Therefore, it's crucial to compare before investing.

SBI FD Rates
At State Bank of India (SBI), ordinary citizens can earn interest rates ranging from 3.05% to 6.60%.

For 1 year:

General citizens: Around 6.25%

Senior citizens: Around 6.75%

PNB FD Rates (Strong returns in a public sector bank)
Punjab National Bank (PNB) is also a popular FD option.

Interest rate: Around 3.00% to 6.60%

For 1 year:

General customers: 6.25%

Senior citizens: 6.75%

HDFC Bank (Steady returns in a private bank)
FD interest rates at HDFC Bank range from around 2.75% to 6.60%.

At 1 year:

General citizens: 6.25%

Senior citizens: 6.75%

ICICI Bank (Safe and convenient option)
Interest rate: Around 2.75%–6.60%

At 1 year:

General citizens: 6.25%

Senior citizens: Around 6.75%

Bank of Baroda (strong interest rate in a public sector bank)
Interest rate: Around 3.50% to 6.60%

At 1 year:

General citizens: Around 6.25%

Senior citizens: Around 6.75%

Conclusion: FDs are still the number one option for safe returns
So, if you want guaranteed and secure returns with low risk, bank FDs are still the most reliable investment option. Essentially, they offer zero risk, fixed returns, additional interest for senior citizens, and the option of premature withdrawal at any time. So, in the face of changing market conditions and volatile investment options, it's important to consider the following: Beach FDs continue to be a strong pillar of stability and security for common investors. (Note: This article is for informational purposes only and should not be construed as investment advice in any way; it is recommended to consult a financial advisor before making any investment decisions.)

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