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Fixed Deposit: Govt Banks That Are Offering Highest Interest Rates

Team BankBazaar
·1-min read
Photo: www.rupixen.com from Pixabay
Photo: www.rupixen.com from Pixabay

Fixed deposits continue to be popular 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 fixed deposit interest rates offered by different government banks in India.

Bank

<1 Year

>=1 to <=2

2 to <=3

3 to <=5

Bank of Maharashtra

4.5

5

5

5

Bank of Baroda

4.4

5.1

5.1

5.3

Bank of India

5

5.5

5.4

5.4

Canara Bank

4.85

5.5

5.5

5.45

Central Bank of India

4.8

5.35

5.35

5.35

IDBI Bank

5.25

5.75

5.7

5.8

Indian Bank

4.5

5.45

5.35

5.35

Indian Overseas Bank

5.5

5.65

5.7

5.7

Punjab National Bank

4.5

5.25

5.25

5.3

Punjab & Sind Bank

5.1

5.55

5.55

5.55

State Bank of India

4.4

5.1

5.3

5.4

UCO Bank

5.2

5.5

5.5

5.45

Union Bank

5

5.4

5.4

5.45

Data as on respective banks’ website on 7 July 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.