FD Interest Rate 2023: Top 5 Foreign Banks That Recently Revised FD Rates

Fixed deposits have emerged as one of the most popular ways to save your hard-earned money. FDs are not only safe investment but offer attractive returns too. When you open a fixed deposit, you keep a lump sum in your bank account for a fixed period at an agreed interest rate. When the tenure ends, you get the amount that you invested along with compound interest. Recently, five leading foreign banks revises interest rates on their FDs. Check details below:

1. Standard Chartered Bank: The bank revised its FD interest rates on August 4, 2023. After the revision, the bank is now offering 6% interest rates on FDs maturing in less than 1-year tenure. Citizens can expect to receive highest 7.35% interest rate on FDs for the tenure of 1 to 2 years. The interest rate for 2-3 years fixed deposit is 7.25% and 6.75% available for 3-5 years tenure FD.

2. Deutsche Bank: The leading foreign bank updated its interest rates on August 3, 2023. If you want to open an FD for the tenure of less than 1-year, you can expect to receive an interest rate of 7%, highest among the 5 banks for this period. It is offering 7.50% interest rate for 1-2 years FDs which goes to 7.75% for 2-3 years FD tenure. You can obtain 7.50% interest rate for 3-5 years tenure fixed deposits.

3. DBS Bank: The bank revised the fixed deposit interest rates on July 10, 2023. It offers 4.75% interest rate for FDs less than 1-year period. Customers can get 7.25% interest rate for 1-2 years FDs and 7.50% interest rate for FDs maturing in 2-3 years. If you choose the FD tenure of 3-5 years, you will get 6.50% interest rate.

4. Scotia Bank: The last revision in its FD interest rate took place on July 01, 2023. It offers minimum interest rate of 3.7% for the tenure of less than a year while maximum interest rate goes to 4.00% for 2-3 years and 3-5 years tenure. It offers 3.9% interest rate for 3.9% interest rate for 1-2 years FD.

5. HSBC: The bank introduced revision in its FD interest rates on March 3, 2023. After revision, minimum FD interest rate is 4.5% for less than a year tenure FD. The maximum interest rate is 7.5% for 2-3 years FD and 7.00% interest rate for 3-5 years FD. It offers 6.25% interest rate for 1-2 years tenure fixed deposits.