The National Housing Bank or NHB is a regulatory authority formed under the Reserve Bank of India. This public financial services company accepts deposits from the public. The company offers medium to long-term fixed-deposit schemes.
The table above depicts the interest rates offered by NHB on its FD accounts. These rates reflect changes made by the company at all times.
National Housing Bank offers FDs with interest rate varying from 7.25% to 7.50% for fixed deposits. For the minimum FD tenor one year, the bank offers 7.25% interest. For the next slab of two year-long deposits, the rate remains the same at 7.25%.
For FDs that are between three to five years duration, the rate jumps by 0.25% to 7.50%.
National Housing Bank provides 0.60% more interest to senior citizens over 60. For one and two year FDs, they can now earn 7.85%. For three to five year deposits the rate is 8.10%. However, this benefit is only available to resident senior citizens.