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 10th , August , 2024 and are subject to change .

Which bank pays maximum interest on FD?

IOB PAYS HIGHEST FOR 1 YEAR AMONG PUBLIC SECTOR BANKS
​
Dated 10.08.2024 : Indian overseas Bank is paying highest rate of 7.4 % pa for the senior citizens for deposits for 1 year . It's also paying highest rate of 6.90 % pa for the general public .

​State Bank of India is paying highest rate of 7.5 % pa to the senior citizens for their 5 year deposits . Canara Bank is paying highest rate of 6.70 % 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 6.70 % ( 6.60 % 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 6.50 % ( 7.00 % 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 - 6.50% ( 7.15 % for the 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 7.75 % for 399 days for the Senior Citizens ( General public 7.25 % )

​2. Bank of Maharashtra offers 7.40 % for 200 days for the Senior Citizens ( General public 6.90 % ) and 7.60 % for 400 days , only for the Senior Citizens ( General public 7.10 % ) . Interest rates of 7.65 % for 666 days for the Senior Citizens ( General public 7.15 % ) 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. 7.65 % for 999 days for the Senior Citizens ( General public 7.15 % ) .

The bank has also schemes for various other periods like 777 , 1111, 2222 & 3333 DAYS

​5. Indian Bank offers

1. 7.75 % for 400 days for the Senior Citizens ( General public 7.25 % ) and 8 % 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 7.75 % for 444 for the senior citizens ( General public 7.425 % ) ,

8 . Punjab National Bank offers 7.80% for 400 days for the Senior Citizens ( General public 7.30 % & Super Seniors 8.10 % )

9. Uco Bank offers 7.55 % for 400 days for the Senior Citizens ( General public 7.05 % ) .

9 . Union Bank of India offers 7.75 % for 399 days for the Senior Citizens ( General public 7.25 % ) .

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

If you have earned from stock market or from sale of properties to know tax liability Read the NEW ARTICLE ON
CAPITAL GAIN AND TAX
CLICK HERE TO READ