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Want To Open An FD Account? Check The Latest Interest Rate Of Govt Banks

·2-min read
Photo by Ravi Roshan from Pexels
Photo by Ravi Roshan from Pexels

Fixed deposits are a popular investment option as they offer guaranteed returns along with capital safety and high liquidity. The Reserve Bank of India (RBI) last week decided to keep the key rates unchanged, which meant that there will be no change in FD rates too. This would mean that rates will remain low for the time being. In this low rate phase, you can take help of FD laddering, which simply means breaking your FDs into different tenures with different interest rates. You can open an FD account with the public, private, small finance and foreign banks. Take a look at fixed deposit interest rates offered by top government banks in India.

Bank

<1
year

1 to 2
years

2 to 3
years

3 to 5
years

w.e.f

Bank of Maharashtra

4.25

4.9

4.9

4.9

Jan 08

Bank of Baroda

4.4

5

5.1

5.25

Nov 16

Bank of India

4.5

5.3

5.3

5.3

Jun 01

Canara Bank

4.45

5.4

5.5

5.5

Feb 08

Central Bank of India

4.25

4.9

5.1

5.1

Jan 08

IDBI Bank

4.3

5

5.25

5.25

Apr 16

Indian Bank

4.4

5.1

5.25

5.25

Feb 05

Indian Overseas Bank

4.9

5.2

5.2

5.2

Nov 09

Punjab National Bank

4.5

5.1

5.1

5.25

May 01

Punjab & Sind Bank

4.5

5.15

5.3

5.3

May 16

State Bank of India

4.4

5.1

5.3

5.4

Jan 08

UCO Bank

4.7

5

5

5

Dec 16

Union Bank

4.5

5.3

5.5

5.55

Dec 15

Disclaimer: Data as on respective banks’ website on June 11, 2021; 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 is India’s leading online marketplace for loans and credit cards.

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