FD RATES OF PUBLIC SECTOR BANKS
CONSIDERED SAFEST
FD RATES OF PUBLIC SECTOR BANKS CONSIDERED SAFEST
COMPARITIVE FD INTEREST RATES OF PUBLIC SECTOR BANKS
PLAN N PROGRESS compares interest rates of various banks .
1. We have selected periods of 1 year and 5 years for comparison of interest rates offered by Indian commercial banks including Public Sector banks , Private Sector Banks and Foreign banks with a network of branches and also Small Finance banks , new breed of banks in India . Below tables give information on interest rates offered by various banks .
2 . The interest rates are on retail term deposits for public and senior citizens .
3. Normally interest rates quoted are valid for an amount of less than Rs 3 crore .
4. For actual terms and conditions and the latest rates , you may visit the websites of the banks listed at the end alphabetically .
5. The rates taken by us are updated on or about 04th , November , 2024 and are subject to change .
Which bank pays maximum interest on FD?
IOB PAYS HIGHEST FOR 1 YEAR AMONG PUBLIC SECTOR BANKS
Dated 04.11.2024 : Indian Overseas Bank is paying the highest rate of 7.4 % pa for the senior citizens for deposits for 1 year. It's also paying the general public the highest rate of 6.90 % pa.
State Bank of India pays the highest rate of 7.5 % pa to senior citizens for their 5-year deposits. Bank of Baroda is paying the highest rate of 6.80 % pa for 5 years period for the general public
FOR ONE YEAR DEPOSITS
A. The public sector banks are offering interest rates between 6.10 % % to 6.90 % for public ( 6.60 % to 7.40 % to Senior Citizens ) .
B. The private sector banks are offering interest rates between 5.00 % to 7.75 % % for public and between 5.50 % to 8.25 % for senior citizens
C. The Small Finance banks are paying interest now in the range of 6.00 % to 8.50 % for public and 6.50 % to 9.00 % for the senior citizens
FOR 5 YEAR DEPOSITS
A. Public sector banks pay between 6.00 % to 6.80 % ( 6.50 % to 7.50 % for senior citizens )
B. Private sector banks pay between 5.75 % to 7.25 % ( 6.25 % to 8.00 % for senior citizens ) .
C. Small finance banks pay between 6.25 % to 8.25 % for public ( 6.75 % to 8.75 % for senior citizens ).
There are NBFC companies , co-operative societies and corporates who pay higher interest rates , but have higher risk weight-ages .
SPECIAL DEPOSITS FOR SENIOR CITIZENS AND GENERAL PUBLIC
Some banks have introduced special deposit schemes for senior citizens and general public for special number of days with special interest rates . Some also are offering additional interest rates for deposits of period above 5 years for the senior citizens .
NOTE :
1. Depositors get DICGC cover of Rs 5.00 lakhs on Bank Deposits as insurance .
INTEREST RATES FOR 1 YEAR :
PUBLIC SECTOR BANKS INTEREST RATES
Interest Rates for 1year for General public and Senior Citizens :
1. .BANK OF BARODA - 6.85 % ( 7.35 % for the Senior Citizens )
02 . BANK OF INDIA 6.80 % ( 7.30 % for the Senior Citizens )
03. BANK OF MAHARASHTRA 6.75 % ( 7.25 % for the Senior Citizens )
04. CANARA BANK 6.85 % ( 7.35 % for the Senior Citizens )
05.CENTRAL BANK OF INDIA 6.85 % ( 7.35 % for the Senior Citizens )
06.INDIAN BANK 6.10 % ( 6.60 % for the Senior Citizens )
07.INDIAN OVERSEAS BANK 6.90 % ( 7.40 % for the Senior Citizens )
08.PUNJAB & SIND BANK 6.30 % ( 6.80 % for the Senior Citizens )
09.PUNJAB NATIONAL BANK 6.80 % ( 7.30 % for the Senior Citizens & 7.60 % for Super Seniors )
10.STATE BANK OF INDIA 6.80 % ( 7.30 % for the Senior Citizens )
11.UCO BANK 6.50 % ( 6.75 % for the Senior Citizens )
12.UNION BANK OF INDIA 6.80 % ( 7.30 % for the Senior Citizens )
PUBLIC SECTOR BANK INTEREST RATES FOR 5 YEARS DEPOSITS :
Interest Rates for 5 years for General public and Senior Citizens :
1. .BANK OF BARODA - 6.80% ( 7.40 % for the Senior Citizens and 7.50 % for super senior citizens )
02. BANK OF INDIA 6.00 % ( 6.75 % for the Senior Citizens and 6.90 % for super senior citizens )
03. BANK OF MAHARASHTRA 6.50 % ( 7.00 % for the Senior Citizens )
04. CANARA BANK 6.70 % ( 7.20 % for the Senior Citizens )
05.CENTRAL BANK OF INDIA 6.50 % ( 7.00 % for the Senior Citizens )
06.INDIAN BANK 6.25 % ( 6.75 % for the Senior Citizens )
07.INDIAN OVERSEAS BANK 6.50 % ( 7.00 % for the Senior Citizens )
08.PUNJAB & SIND BANK 6.00 % ( 6.50% for the Senior Citizens )
09.PUNJAB NATIONAL BANK 6.50 % ( 7.00 % for the Senior Citizens and 7.30 % super seniors )
10.STATE BANK OF INDIA 6.50 % ( 7.50 % for the Senior Citizens )
11.UCO BANK 6.20% ( 6.70 % for the Senior Citizens )
12.UNION BANK OF INDIA 6.50 % ( 7.00 % for the Senior Citizens )
SPECIAL SCHEMES OF BANKS FOR SPECIAL PERIOD :
1. Bank of Baroda
a. offers 7.80 % & 7.90 % PA for 4 days for the Senior Citizens & Super senior citizens respectively General public 7.30 % )
2. Bank of Maharashtra offers 7.40 % for 200 days for the Senior Citizens ( General public 6.90 % ) and 7.90 % for 333 days , only for the Senior Citizens ( General public 7.40 % ) . Interest rates of 7.60 % for 400 days for the Senior Citizens ( General public 7.10 % ) and Interest rates of 7.75 % for 777 days for the Senior Citizens ( General public 7.25 % )
3. Canara Bank offers 7.75 % for 444 days for the Senior Citizens ( General public 7.25 % )
.
4. Central Bank India offers
1. 7.95 % for 444 days for the Senior Citizens ( General public 7.45 % )
2. 7.00 % for 999 days for the Senior Citizens ( General public 6.50 % ) .
The bank has also schemes for various other periods like 777 , 1111, 2222 & 3333 DAYS
5. Indian Bank offers
1. 7.80 % for 400 days for the Senior Citizens ( General public 7.30 % ) and 8.05 % pa for super senior citizens
2. 7.55 % for 300 days for the Senior Citizens ( General public 7.05 % ) and 7.80 % pa for super senior citizens
6. Indian Overseas Bank offers 7.80 % for 444 days for the Senior Citizens ( General public 7.30 % )
7. Punjab & Sind Bank offers 7.80 % for 444 for the senior citizens ( General public 7.30 % ) , & 7.75 % for 777 for the senior citizens ( General public 7.25 % )
8 . Punjab National Bank offers 6.90% for 1204 days for the Senior Citizens ( General public 6.40 % & Super Seniors 7.20 % ) & 7.15% for 1895 days for the Senior Citizens ( General public 6.35 % & Super Seniors 7.15 % )
9. Uco Bank offers 7.55 % for 400 days for the Senior Citizens ( General public 7.05 % ) .
9 . Union Bank of India offers 7.50% for 399 days for the Senior Citizens ( General public 7.00 % ) .
To know the latest interest rates offered by individual banks for various maturities , click on the name of the bank to reach their websites . ( Banks listed alphabetically )
1. .BANK OF BARODA
02.BANK OF INDIA
03.BANK OF MAHARASHTRA
04. CANARA BANK
05.CENTRAL BANK OF INDIA
06.INDIAN BANK
07.INDIAN OVERSEAS BANK
08.PUNJAB & SIND BANK
09.PUNJAB NATIONAL BANK
10.STATE BANK OF INDIA
11.UCO BANK
12.UNION BANK OF INDIA
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