Fixed deposits (FDs) remain the most popular investment option for investors as they are a simple and safest financial instrument. Many prominent private and public sector banks have recently revised their interest rates on FDs. 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 top public sector banks in India.
|Bank||<1 Year||>=1 to <=2||2 to <=3||3 to <=5|
|Bank of Maharashtra||5.75||6||5.75||5.5|
|Bank of Baroda||5.5||6||5.9||6.15|
|Bank of India||5.75||6.2||6.2||6.2|
|Central Bank of India||5.75||6||6||6|
|Indian Overseas Bank||6.25||6.35||6.3||6.2|
|Oriental Bank of Commerce||5.85||6.05||6.05||6.05|
|Punjab National Bank||5.85||6.05||6.05||6.05|
|Punjab & Sind Bank||6||6.1||6.05||6.05|
|State Bank of India||5||5.7||5.7||5.7|
Data as on respective banks’ website on 31 Mar 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.