5 Years Fixed Deposit
5 Years FD Interest Rates
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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
| Bank | Regular FD Interest Rates (per annum) | Senior Citizen FD Interest Rates (per annum) |
|---|---|---|
| Bajaj Finserv | 6.80% | 7.05% |
| PNB Housing Finance | 6.70% | 6.95% |
| India Post Office | 6.70% | 6.70% |
| Jana Small Finance Bank | 6.50% | 7.00% |
| Ujjivan Small Finance Bank | 6.25% | 6.75% |
| SBI | 5.40% | 6.20% |
Best Fixed Deposit Scheme For 5 years
Bajaj Finserv
PNB Housing Finance
India Post Office 5 Years FD
Jana Small Finance Bank
Ujjivan Small Finance Bank
SBI
HDFC Bank
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.
