Earlier this month, many banks revised the fixed deposits’ interest rates for different tenures. Despite lower interest rates offered, fixed deposits are the preferred investment choice for many investors as they offer assured returns with capital safety. In case you are looking to open an FD account with a public sector bank, here is what top 10 public sector banks are offering.
|Top 10 FD Interest Rates From Government Banks|
|Bank||<=1 Year||>1 to <=2||>2 to <=3||>3 to <=5||>5 Year|
|Punjab National Bank||6.4||6.4||6.25||6.25||6.3|
|Bank of Baroda||6.4||6.4||6.4||6.25||6.25|
|Bank of India||6.4||6.4||6.25||6.25||6.25|
|State Bank of India||6.25||6.25||6.25||6.25||6.25|
|For each range, maximum interest rate offered is considered. Interest rates for normal fixed deposit amount below Rs. 1 cr. Banks are ranked in descending order on the basis of highest FD interest rate offered for tenure up to 1 year i.e. the bank having the highest interest rate for tenure up to 1 year is placed on top. Table contains the top 10 government-owned banks based on liability (as per last available balance sheet).|
Compiled by BankBazaar.com, a neutral online marketplace for loans and credit cards.