FD Rates: SBI Bank is the first choice for making FD among the common people in India. Common people have more trust in SBI because it is the largest bank in the country. If we talk about the data, SBI’s share in the total fixed deposit investments made in government banks is 36 percent.
FD Rates: SBI Bank is the first choice for making FD among the common people in India. Common people have more trust in SBI because it is the largest bank in the country. If we talk about the data, SBI’s share in the total fixed deposit investments made in government banks is 36 percent. Most people also believe that the highest interest is available on FD but it is not so. If we talk about interest on FD, there are many other government banks which are offering more interest than SBI. Here are the names of those government banks which are giving more interest than SBI.
Bank of Baroda
Bank of Baroda offers the highest interest rates on FD among public sector banks. It is offering interest up to 7.25% on three year FD. An investment of Rs 1,00,000 in FD will grow to Rs 1.24 lakh in three years. Bank of Baroda’s share in the total FD of public sector banks is 10%.
Punjab National Bank
Punjab National Bank (PNB) is offering up to 7% interest on three-year FD. An investment of Rs 1,00,000 in PNB’s FD will grow to Rs 1.23 lakh in three years. PNB’s share in the total FD kept in government banks is 10 percent.
Canara Bank
Canara Bank offers interest rates up to 6.8% on three-year FDs. An investment of Rs 100,000 in Canara Bank FD will grow to Rs 1.22 lakh in three years.
State Bank of India
State Bank of India (SBI), the country’s largest bank, is at fifth position in terms of interest rates on three-year FD. SBI is offering 6.75% annual interest on three year FD. An investment of Rs 1,00,000 in SBI FD will grow to Rs 1.23 lakh in three years. SBI has recently increased the interest rates on FD. The bank has now increased the rates on FD after February.
Union Bank of India
Union Bank of India, Bank of India and Indian Overseas Bank are offering interest rates up to 6.5% on three-year FDs. An investment of Rs 1,00,000 in a three-year FD will grow to Rs 1.21 lakh in three years.
UCO Bank
UCO Bank is offering interest rates up to 6.3% on three-year FD. An investment of Rs 1,00,000 in UCO Bank FD will grow to Rs 1.21 lakh in three years.
