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Check The Latest Interest Rates Of Govt And Private Banks On 2-3 Years’ FD

·2-min read
Photo: Freepik
Photo: Freepik

Fixed deposits are preferred by investors as they are convenient to invest in, returns are guaranteed and also provide easy liquidity. Fixed deposits are offered for multiple tenures from 7 days to 10 years. Interest rates for each tenure vary from bank to bank. Despite offering low returns, FDs are preferred by investors who are looking at securing protection for their capital. You can open an FD account easily by visiting the bank or through mobile banking and net banking applications. Most banks offer preferential rates of up to 0.5% p.a. (0.75% in some cases) to senior citizen depositors.

So, if you’re looking to invest in fixed deposit of 2-3 years tenure, here are the latest interest rates advertised by some of India’s prominent government and private banks.

Bank Name

Highest advertised interest rate on 2-3 years’ FDs (in % p.a.)

PUBLIC SECTOR BANKS

Bank of Maharashtra

4.9

Bank of Baroda

5.1

Bank of India

5.3

Canara Bank

5.5

Central Bank of India

5.1

IDBI Bank

5.25

Indian Bank

5.25

Indian Overseas Bank

5.2

Punjab National Bank

5.1

Punjab & Sind Bank

5.3

State Bank of India

5.3

UCO Bank

5

Union Bank

5.5

PRIVATE BANKS

Axis Bank

5.4

Bandhan Bank

5.5

Catholic Syrian

5.25

City Union Bank

5.25

DCB Bank

6.5

Dhanlaxmi Bank

5.4

Federal Bank

5.35

HDFC Bank

5.15

ICICI Bank

5.15

IDFC First Bank

5.75

IndusInd Bank

6.5

J & K Bank

5.2

Karnataka Bank

5.5

Kotak Bank

5.1

Karur Vysya Bank

5.65

RBL Bank

6.3

South Indian Bank

5.5

Tamilnad Mercantile Bank

5.65

TNSC Bank

5.85

Yes Bank

6.25

Disclaimer: Data as on respective banks’ website on June 18, 2021. The maximum offered interest rate has been considered for 1-2 years range. All interest rates are for normal fixed deposits amounting to less than Rs.1 crore.

Data compiled by BankBazaar.com, an online marketplace for loans, credit cards and more.

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