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Fixed Deposits: Which Bank Is Offering The Highest Interest Rate?

Team BankBazaar


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
Allahabad Bank 6.3 6.45 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 5.5 6 5.9 6.15
Bank of India 5.75 6.2 6.2 6.2
Canara Bank 5.75 6.15 6.25 6.25
Central Bank of India 5.75 6 6 6
Corporation Bank 5.9 6.25 6.2 6.2
IDBI Bank 5.9 6.25 6.25 6.25
Indian Bank 5.5 5.9 5.8 5.8
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
Syndicate Bank 5.75 6.3 6.25 6.25
UCO Bank 5.8 6.1 6.1 6.05
Union Bank 5.9 6.25 6.2 5.8
United Bank 6 6.5 6.25 6

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.