Fixed deposits are preferred by investors as they are easy to invest in, returns are guaranteed and also provide high 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. So, if you’re planning to invest in 3-5 years’ FD, here are the latest interest rates advertised by the prominent government banks in the country.
Highest Advertised Interest Rate On 3-5 years FD (in % p.a)
Bank of Maharashtra
Bank of Baroda
Bank of India
Central Bank of India
Indian Overseas Bank
Punjab National Bank
Punjab & Sind Bank
State Bank of India
Disclaimer: Data as on respective banks’ websites on June 18, 2021. Interest rates are for normal fixed deposits amounting below Rs. 1 crore for tenures up to 5 years. Compiled by BankBazaar.com.
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