Starting a fixed deposit account in a bank is quite a simple task. Only some mandatory documents, along with a passport size photo, are required to start a fixed deposit account. There are two ways this process could be completed, out of which one is the latest way, i.e., online and the other is the traditional way of the offline process. Hence, some steps have been mentioned which are needed to be followed when one needs to open a fixed deposit.
|Bank||Interest Rate||Interest Rate for Senior Citizen|
|State Bank of India||5.75-7%||6.25-7.50%|
|IDFC First Bank||4.00-7.75%||4.50-8.25%|
|Bank of Baroda||4.75-6.85%||5.25-7.35%|