Fixed deposit schemes are a popular investment scheme among Indians. Investments in these projects are also attracted by public sector, private and small finance banks. Small Finance Banks offer higher interest rates as compared to Public Sector Banks.
However, investors should note that small finance banks only have RBI-approved insurance for fixed deposit schemes up to Rs 5 lakh.
in that respect, Fixed Deposit Interest of Banks Let’s see the rates.
| V. No | Bank | Maximum Interest Rate (%) |
| 01 | Bank of India | 7.25% |
| 02 | Bank of Maharashtra | 7.10% |
| 03 | Canara Bank | 7.25% |
| 04 | Central Bank of India | 7.25% |
| 05 | Indian Bank | 7.25% |
| 06 | Indian Overseas Bank | 7.30% |
| 07 | Punjab National Bank | 7.25% |
| 08 | Punjab and Sind Bank | 7.25% |
| 09 | State Bank of India | 7.10% |
| 10 | Union Bank of India | 7.25% |
Indian Overseas Bank
Indian Overseas Bank is currently offering an interest rate of 7.3% for 444 days. Also, the bank offers an interest rate of 6.9% on 1-year fixed deposits. 3 years and 5 years term deposits will earn interest at the rate of 6.5%.
Bank of Baroda
Bank of Baroda offers maximum interest rate of 7.25% for deposits of 2 to 3 years. The bank offers 6.85% interest rate for 1 year fixed deposits, 7.25% interest rate for 3 year tenure and 6.5% interest rate for 5 year FDs.
Bank of India
Bank of India offers 7.25 percent interest on 2-year FD. It offers an interest rate of 6.5% on 3-year deposits and 6% on 5-year fixed deposits.
Canara Bank
Canara Bank offers its highest interest rate of 7.25% for 444 days. Subsequently, it offers 6.85% interest on 1-year fixed deposits, 6.8% on 3-year FDs and 6.7% on 5-year fixed deposits.
Central Bank of India
Central Bank of India offers 7.25 percent interest rate for 555 days. The bank offers a favorable interest rate of 6.75% on 1 year fixed deposits. Interest rates are offered at 6.5% on 3-year fixed deposits and 6.25% on 5-year fixed deposits.
Indian Bank
Indian Bank offers various fixed deposit interest rates for various investment options. Its “IND SUPER” scheme offers an attractive maximum interest rate of 7.25% for 400 days. Subsequently, it offers an interest rate of 6.1% for 1-year fixed deposit and 6.25% interest rate for 3-year and 5-year fixed deposit schemes.
Punjab National Bank
Punjab National Bank offers its highest interest rate of 7.25% for 400 days. Offers an interest rate of 6.75% on 1 year fixed deposits. The bank’s interest rates were 7% for 3-year fixed deposits and 6.5% for 5-year FDs.
Punjab & Sind Bank
Punjab & Sind Bank offers its highest interest rate of 7.25% for 444 days. The bank offers a competitive 6.2% interest rate on 1-year fixed deposits. Its rates of 6% are available on 3-year and 5-year fixed deposits.
Union Bank of India
Union Bank of India offers its highest interest rate of 7.25% for 399 days. For short term, its rates are seen at 6.75% for 1-year fixed deposits, 6.5% for 3-year and 5-year deposits.
State Bank of India
State Bank of India offers its highest interest rate of 7.1% for 400 days under the “Amirth Kalash” scheme. It offers an interest rate of 6.8% on 1-year fixed deposits, 6.75% on 3-year FDs and 6.5% on 5-year deposits.
Bank of Maharashtra
Bank of Maharashtra offers its highest interest rate of 7.1% for 400 days. The bank offers an interest rate of 6.75% on 1 year fixed deposits. Its rates of 6.5% are available on 3-year and 5-year fixed deposits.
