Bank FD Interest Rates for 2 years or any tenures is determined by changes in RBI monetary policy such as repo rate, base rate, etc, the internal liquidity position of banks, economic conditions, and the level of credit demand. To get the information about best FD Interest Rates in banks for one year tenor, continue reading ahead.
Fixed deposit is an account that allows you to deposit your money for a fixed period of time, earning your interest at a fixed rate. It gives you a higher rate of interest than a savings bank account. FD interest rates in banks are quite competitive and are higher than the rates on their savings deposits.
Check the SBI FD Interest rates
The longest permissible term offered by the banks for FDs is 10 years. Generally, the longer the term of deposit, the higher is the rate of interest.
Latest FD Interest Rates for 02 years term (Period):
Current FD interest rates in banks and post office for 2 years tenor are tabulated below. Here FD rates for 02 years period is given for different public sector banks, private sector banks & post office.
| Bank Name | Tenors | Rates For Public | Rates for Senior Citizens | As on Date |
|---|---|---|---|---|
| Bank of Baroda | 2 Years - <3 Years | 7.15 | 7.65 | 2024-09-09 |
| Bank of India | 2 years - <3 years | 6.75 | 7.25 | 2024-09-09 |
| Canara Bank | 2 years - <3 years | 6.85 | 7.35 | 2024-09-09 |
| Central Bank of India | 2 years - <3 years | 7 | 7.5 | 2024-09-09 |
| HDFC Bank | 21months - 2 years | 7 | 7.5 | 2024-09-09 |
| ICICI Bank | 18 months to 2 years | 7.25 | 7.75 | 2024-09-09 |
| PNB | >1 year - 2 years | 6.8 | 7.3 | 2024-09-09 |
| Post Office | 2 years | 7 | 7 | 2024-09-09 |
| SBI | 2 years to <3 years | 7 | 7.5 | 2024-09-09 |
| UBI | >1 Year to 2 Years | 6.6 | 7.1 | 2024-09-09 |
Note: (All figures in % per annum)
Check the PNB FD Interest rates
Check the HDFC FD Interest rates
FD interest rates of banks according to deposit period:
FD is a deposit of a fixed sum of money for a fixed period of time – which can vary anything from a few days to a few years – at a fixed interest rate known at the beginning of the investment.
Depending on the deposit period or tenure, these FDs are further categorised as short-term, medium-term, and long-term deposits.
Check the ICICI FD Interest rates
How is the Bank’s FD rate of interest calculated?
FD interest rates of the Banks are determined by changes in RBI monetary policy such as repo rate, base rate, etc, the internal liquidity position of banks, economic conditions, and the level of credit demand.
The interest you earn on your deposited amount in FD depends on a lot of factors such as the invested amount, tenure for the deposit, rate of interest, and compounding frequency.
One of the best ways to calculate the interest earned on your FD is using the FD calculator available over the internet. It is the most hassle-free way of calculating interest.
You may Calculate the Bank FD maturity by using: FD Calculator
This FD Calculator for Bank’s or Post Office’s FD requires some data like – your principal deposit amount, rate of interest, period (in the number of months), and interest compounding frequency. After calculation, you will get the maturity amount after the maturity period and effective yield in %.
Hello Friends! If you have any doubts about this post for the Best FD Interest Rates for 2 years tenure, please let me know through a comment below and if you like this post useful, please do a share on Facebook or Twitter with your friends, so that it may be useful for them also.
