Fixed deposits are considered the safest investment option as they offer assured returns with capital safety. You can open an FD account with the public, private, small finance as well as foreign banks. Take a look at interest rates offered by different government banks in India.
|Bank||<1 Year||>=1 to <=2||2 to <=3||3 to <=5|
|Bank of Maharashtra||4.75||5.5||5.5||5.5|
|Bank of Baroda||4.85||5.55||5.55||5.7|
|Bank of India||5.5||5.9||5.8||5.8|
|Central Bank of India||5.1||5.65||5.65||5.65|
|Indian Overseas Bank||5.6||5.75||5.7||5.7|
|Punjab National Bank||5.4||5.75||5.75||5.75|
|Punjab & Sind Bank||5.75||5.85||5.85||5.85|
|State Bank of India||4.8||5.5||5.7||5.7|
Data as on respective banks’ website on 26 May 2020. For each year range, the maximum offered interest rate is considered; interest rate is for a normal fixed deposit amount below Rs. 1 crore. Compiled By BankBazaar.com, a neutral online marketplace for loans and credit cards.