5 year Fixed Deposit
5 Year FD Rates
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Best 5-Year Fixed Deposits in India 2021
Fixed Deposit is one of the safest investment options available for common people in the market. Opting tenure of 5 years for Fixed Deposit is popular because most of the banks provide the highest interest rate around this tenure. Some of the best banks providing high interest rates on 5 year FDs are PNB Housing Finance, India Post Office, Bajaj Finserv, Jana Small Finance Bank, Equitas Small Finance Bank .
5 Year FD Interest Rates
| Bank | Regular FD Interest Rates (per annum) | Senior Citizen FD Interest Rates (per annum) |
|---|---|---|
| PNB Housing Finance | 6.70% | 6.95% |
| India Post Office | 6.70% | 6.70% |
| Bajaj Finserv | 6.50% | 6.75% |
| Jana Small Finance Bank | 6.50% | 7.00% |
| Equitas Small Finance Bank | 6.25% | 6.75% |
5 Year Bank Fixed Deposit
PNB Housing Finance
India Post Office
Bajaj Finserv
Jana Small Finance Bank
Equitas Small Finance Bank
5 Year Tax Saver FD
The 5 years fixed deposit tax-free is a type of fixed deposit for which deduction is available on the deposited amount under Section 80C of the Income Tax Act, 1961. The deduction is available for the maximum amount of ₹ 1,50,000. These FDs do not allow breaking of the deposit in mid tenure like regular fixed deposits.
5 Year FD Calculator
To know which bank is providing FD for 5 years with maximum returns, you can also use the FD calculator. With the help of a FD calculator, you can calculate the exact amount of interest you will earn in 5 years and the maturity value of a 5-year FD.
FAQs
✅Can we break 5 year FD?
Yes, you can break a regular 5 year FD. However, breaking FD reduces your interest rate. Banks reduce the rate of interest as a penalty for breaking your fd before maturity.
✅Is 5 year FD tax-free?
The tax saving FD and regular FD are two different investment instruments. In the case of regular FD, the deposit amount is not tax-free. Plus, the interest earned on fd is exempt only up to ₹ 50,000 for senior citizens and ₹ 40,000 for others in a financial year.
✅Which bank is the best for fixed deposits for 5 years?
The best bank for 5 year fixed deposits is PNB Housing Finance, as it is offering the interest rate of 6.70% p.a.
✅How can I close my 5 year fixed deposit in SBI?
Closing your 5 year fixed deposit in SBI before maturity would mean you are breaking your FD. In such a case, you will get a return on a reduced interest rate as per the policy of the bank. To close your 5 year fixed deposit you need to visit the SBI branch in which you opened the account and fill out the form required to submit your request of closing the FD account.
