Bank of Baroda is offering the highest interest rates to customers for a period of 1 year. Offering 6.85% interest, Punjab National Bank is in second place with 6.80%.
Fixed deposit rates vary across banks. Usually the interest also depends on the FD amount and the lock-in period.
The interest rates offered by banks in India vary depending on the time period. Here are the interest rates offered by different banks on fixed deposit schemes for one year, three years and five years.
Interest Rates for Fixed Deposit –
| Name of the Bank | 1 year | 3 year | 5 years |
| HDFC Bank Ltd | 6.60% | 7.00% | 7.00% |
| ICICI Bank | 6.70% | 7.00% | 7.00% |
| Axis Bank | 6.00% | 7.10% | 7.10% |
| Kotak Mahindra Bank | 6.50% | 7.15% | 7.00% |
| Bank Of Baroda | 6.85% | 7.15% | 6.80% |
| Punjab National Bank | 6.80% | 7.05% | 6.55% |
*All these interest rates are for FDs of less than Rs 1 crore
Bank of Baroda is offering the best interest rates to customers for a period of one year. Bank of Baroda has offered 6.85% interest on FDs. In second place is Punjab National Bank, which is offering 6.80% interest to customers. Axis Bank offers the lowest interest with 6.00% interest for a period of one year.
For 3-year FDs, Kotak Mahindra Limited and Bank of Baroda are offering the highest interest rates of 7.15%. Axis Bank Limited offers the next best rates with 7.10% for 3-year deposits. The lowest interest rates are offered by ICICI Bank Limited and HDFC Bank. Both banks offer 7.00% interest for deposits.
For 5-year deposits, Axis Bank has offered the highest FD rates at 7.10%. The lowest offer in this time frame is from Punjab National Bank as they offer 6.55% for five-year deposits. HDFC, Kotak and ICICI Bank offer 7.00% interest in this period.
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