Compare The Latest Interest Rates Of Govt And Private Banks On 2 Years, 3 Years And 5 Years Fixed Deposit

·2-min read
Photo: Freepik
Photo: Freepik

Fixed deposits are one of the most popular investment options as they offer assured returns and easy liquidity. When you invest in an FD, the amount is invested at a fixed interest rate. Fixed deposits are offered for various tenures ranging from 7 days to 10 years. The interest rates vary from bank to bank. The Reserve Bank of India in its latest monetary policy review decided to maintain status quo on key rates. This means there will be no change in FD interest rates and the deposits will continue to earn the same interest rates for the time being. There are still a few private and small finance banks that are currently offering above-average FD returns. Investors could consider investing a part of their funds in FDs of these banks after a thorough risk assessment, and in line with their returns expectations and risk appetite. Therefore, it is important that when you plan to open an FD account, you must compare the interest rates offered by various banks to bag the best deal for yourself.

If you’re planning to open an FD account, here is a list of interest rates being offered by government and private banks on different tenures.

Bank

1 to 2
years

2 to 3
years

3 to 5
years

PUBLIC SECTOR BANKS

Bank of Maharashtra

4.9

4.9

4.9

Bank of Baroda

5

5.1

5.25

Bank of India

5.3

5.3

5.3

Canara Bank

5.4

5.5

5.5

Central Bank of India

4.9

5.1

5.1

IDBI Bank

5

5.25

5.25

Indian Bank

5.1

5.25

5.25

Indian Overseas Bank

5.2

5.2

5.2

Punjab National Bank

5.1

5.1

5.25

Punjab & Sind Bank

5.15

5.3

5.3

State Bank of India

5.1

5.3

5.4

UCO Bank

5

5

5

Union Bank

5.3

5.5

5.55

PRIVATE SECTOR BANKS

Axis Bank

5.4

5.4

5.75

Bandhan Bank

5.75

5.75

5.5

Catholic Syrian

5

5.25

5.5

City Union Bank

5.5

5.25

5.25

DCB Bank

6.4

6.5

6.5

Dhanlaxmi Bank

5.3

5.4

5.5

Federal Bank

5.5

5.35

5.5

HDFC Bank

4.9

5.15

5.3

ICICI Bank

5

5.15

5.35

IDFC First Bank

5.5

5.75

6

IndusInd Bank

6

6.5

6

J & K Bank

5.1

5.2

5.3

Karnataka Bank

5.2

5.5

5.5

Kotak Bank

5

5.1

5.3

Karur Vysya Bank

5.5

5.65

6

RBL Bank

6.1

6.3

6.5

South Indian Bank

5.4

5.5

5.65

Tamilnad Mercantile Bank

5.75

5.65

5.5

TNSC Bank

6

5.85

6

Yes Bank

6

6.25

6.5

Disclaimer: Data as on respective banks’ websites on June 4, 2021. Interest rates are for normal fixed deposits amounting below Rs. 1 crore for tenures up to 5 years. Compiled by BankBazaar.com.

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