FD interest rates: These 7 banks offer highest interest on their 1-year-FDs | Mint

Several banks, including SBI, PNB, Canara, HDFC, and ICICI, are offering high interest rates on 1-year fixed deposits, making them attractive options for investors. The interest rates range from 6.5% to 7.5%, reflecting the banks’ efforts to attract more deposits amid rising interest rates globally. Fixed deposits are considered a safe investment option, and the higher rates are expected to draw significant interest from risk-averse investors. The competitive rates also indicate the banks’ need to bolster their deposit base to support lending activities. Investors are advised to compare rates and terms before making investment decisions.