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5 Years Fixed Deposit

5 Years FD Interest Rates

Last Updated 21st Jan 2022

  • To know the best bank for 5 years FD, you need to compare the 5 year FD rates provided by the banks.
  • Banks offer a higher rate of interest to senior citizens on regular term deposit, rates are higher by 0.5%-1%.
  • The Tax Saving FD is also for 5 years, but it does not allow premature closure or breaking of FD before the end of tenure.
  • Currently, among banks, the highest rate of interest is provided by Bajaj Finserv @ 7.05%.
  • You can also use the 5 year FD calculator to find which bank is providing the highest returns.
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Best 5 Year Fixed Deposits in India 2022

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 higher interest rate for this tenure. Some of the best banks providing high interest rates on 5 year FDs are Bajaj Finserv, PNB Housing Finance, India Post Office, Jana Small Finance Bank, Ujjivan Small Finance Bank .

5 Year Fixed Deposit Interest Rates

BankRegular FD Interest Rates (per annum)Senior Citizen FD Interest Rates (per annum)
Bajaj Finserv6.80%7.05%
PNB Housing Finance6.70%6.95%
India Post Office6.70%6.70%
Jana Small Finance Bank6.50%7.00%
Ujjivan Small Finance Bank6.25%6.75%
SBI5.40%6.20%

Best Fixed Deposit Scheme For 5 years

Bajaj Finserv

  • Bajaj Finserv offers 6.80% on its regular term deposit for the tenure of 5 years.
  • Bajaj Finserv offers a rate of interest 0.25% higher than what it provides for a regular term deposit to senior citizens.
  • The interest rate for 5 year FD offered by Bajaj Finserv to citizens above the age of 60 is 7.05%.

PNB Housing Finance

  • PNB Housing Finance offers 6.70% on its regular term deposit for the tenure of 5 years.
  • To depositors who are senior citizens, PNB Housing Finance offers a rate of interest 0.25% higher than what it provides for a regular term deposit.
  • The interest rate for 5 year FD offered by PNB Housing Finance to citizens above the age of 60 is 6.95%.

India Post Office 5 Years FD

  • India Post Office offers 6.70% on its regular term deposit for the tenure of 5 years.
  • To depositors who are senior citizens, India Post Office offers a rate of interest 0% higher than what it provides for a regular term deposit.
  • The interest rate for 5 year FD offered by India Post Office to citizens above the age of 60 is 6.70%.

Jana Small Finance Bank

  • Jana Small Finance Bank offers 6.50% on its regular term deposit for the tenure of 5 years.
  • To depositors who are senior citizens, Jana Small Finance Bank offers a rate of interest 0.5% higher than what it provides for a regular term deposit.
  • The interest rate for 5 year FD offered by Jana Small Finance Bank to citizens above the age of 60 is 7.00%.

Ujjivan Small Finance Bank

  • Ujjivan Small Finance Bank offers 6.25% on its regular term deposit for the tenure of 5 years.
  • To depositors who are senior citizens, Ujjivan Small Finance Bank offers a rate of interest 0.5% higher than what it provides for a regular term deposit.
  • The interest rate for 5 year FD offered by Ujjivan Small Finance Bank to citizens above the age of 60 is 6.75%.

SBI

  • Under SBI fixed deposit scheme for 5 years, you can get returns upto 5.40%.
  • SBI 5 year FD Interest rate for senior citizens stands at 6.20%

HDFC Bank

  • HDFC 5 year FD Interest rate on a regular fixed deposit is 5.35%
  • The bank offers higher FD interest rate for 5 years on senior citizens FD and currently stands at 5.80%.

5 Years Tax Saving Deposit

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.As per the current rates,Bajaj Finserv offers highest 5 year tax saver FD Interest rate of upto 7.05%.

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 Bajaj Finserv. The bank is offering an interest rate of 6.80% 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 bank’s policy.To close your 5 years fixed deposit you need to visit the SBI branch in which you opened the account and filled out the form required to submit your request for closing the FD account.

What is the rate of interest on FD for 5 years?

Different banks offer varying rates on 5 years FD and as per the current rates, Bajaj Finserv offers the highest return upto 7.05%.

Can I invest more than Rs.1.5 lakh in 5-year fixed deposits?

There is no limit for investment in a 5 year fixed deposit. However, if you have invested in tax saving FD for 5 years, you cannot invest more than Rs. 1.5 Lakh.

Is the nomination facility available for 5-year fixed deposits?

Most banks offer nomination facilities for 5-year fixed deposits; however, this may vary in banks.

What are 5 year term deposit interest rates in the Post Office?

5 years fixed deposit interest rates in the Post Office is upto 6.70%. So you can either invest in a regular FD for 5 years or a tax saver FD.


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