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Fixed Deposit – Which Govt Banks Are Offering Over 6% Interest Rate?

Team BankBazaar
Image Source: Pixabay

Fixed deposits remain the safest investment option for many because 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 prominent public sector banks in India.

Bank <1 Year >=1 to <=2 2 to <=3 3 to <=5
Allahabad Bank 6.7 6.5 6.35 6.25
Andhra Bank 5.75 6 6.1 6.1
Bank of Maharashtra 5.75 6 5.75 5.5
Bank of Baroda 5.9 6.25 6.25 6.25
Bank of India 6 6.4 6.25 6.25
Canara Bank 5.95 6.4 6.25 6.25
Central Bank of India 6 6.25 6.2 6.2
Corporation Bank 6.15 6.55 6.35 6.35
Dena Bank NA NA NA NA
IDBI Bank 6 6.45 6.25 6.25
Indian Bank 5.75 6.4 6.25 6.25
Indian Overseas Bank 6.25 6.35 6.35 6.25
Oriental Bank of Commerce 5.8 6.25 6.25 6.25
Punjab National Bank 6.1 6.3 6.25 6.25
Punjab & Sind 6.4 6.45 6.45 6.45
State Bank of India 5.8 6.1 6.1 6.1
Syndicate Bank 5.75 6.5 6.25 6.25
UCO Bank 6 6.3 6.3 6.25
Union Bank 6.15 6.45 6.3 6.3
United Bank 6 6.5 6.25 6

Data taken from respective bank’s website as on 14 Jan 2020. For each year range, maximum offered interest rate is considered; Interest Rate for normal fixed deposit amount below Rs 1 Cr. Compiled By BankBazaar.com, a neutral online marketplace for loans and credit cards.