FD Interest Rate: If you are thinking of investing in Fixed Deposit (FD), then it is important to compare the interest rates of public sector banks. There is a huge difference in the interest rates on FDs of 1 year to 5 years in different banks.
Here we are giving details of FD rates of top 10 government banks, so that you can take a better decision.
Central Bank of India
This bank is giving the highest interest rate of up to 7% on FD, which is the highest among public sector banks. This bank is giving a rate of 6.5% or above in all periods from 1 year to 5 years.
Indian Bank
Indian Bank’s 1-year FD rate is the lowest at 6.10%, but its maximum rate is 6.90%. For long-term FDs, this may prove to be an option giving slightly lower returns.
Indian Overseas Bank
This bank is offering 6.60% and maximum 6.75% interest on 1 year FD. Its rate on 5 year term is 6.30%, which is better than many other banks.
Canara Bank
The interest rate on Canara Bank FDs of all tenures is 6.50%. This can be a reliable option for those looking for stable returns.
Punjab National Bank (PNB)
PNB is offering 6.40% and maximum 6.70% interest on 1 year FD. Its rate also goes up to 6.50% for FDs up to 5 years.
Bank of India
Bank of India offers 6.50% and maximum 6.70% interest on 1 year FD. For 5 year FD, the interest rate is 6.00%.
Bank of Baroda
Bank of Baroda’s maximum interest rate is 6.60%, while 5-year FD gives a return of 6.40%. This can be an option with a balanced return.
UCO Bank
UCO Bank is offering 6.25% and maximum 6.70% interest on 1 year. However, it offers only 6.10% interest on 5-year FD.
State Bank of India (SBI)
SBI’s rate on 1 year FD is 6.25% and maximum 6.60%. Its rate for 5 years is 6.05%, which is lower than some other banks.
