Bank FD Rates: Reserve Bank of India (RBI) Governor Sanjay Malhotra on Friday announced a reduction in the repo rate by 25 basis points or 0.25 percent. A reduction in the repo rate has a direct impact on the interest rates of loans and everything from home loans to car loans becomes cheaper. Also, it can affect the FD rates of banks. In such a situation, before the banks reduce the interest rates, let us know how much interest the major government and private banks of the country are paying on FD.
SBI
State Bank of India provides FD service to its customers for 7 days to 10 years, in which they get interest ranging from 3.5 percent to 7.50 percent. SBI is paying the highest interest on FDs of 2 to 3 years.
Bank of Baroda
Bank of Baroda provides FD service to its customers from 7 days to 10 years, in which they get interest ranging from 4.25 percent to 7.75 percent. BoB is giving the highest interest on FDs of 2 to 3 years.
Punjab National Bank
Punjab National Bank provides FD service to its customers from 7 days to 10 years, in which they get interest ranging from 3.50 percent to 8.05 percent. PNB is giving the highest interest on FDs of 400 days.
Indian Overseas Bank
Indian Overseas Bank provides FD service to its customers from 7 days to more than 3 years, in which they get interest ranging from 4.00 percent to 7.30 percent. IOB is giving the highest interest on FDs of 444 days.
Canara Bank
Canara Bank provides FD service to its customers from 7 days to 10 years, in which they get interest ranging from 4.00 percent to 8.14 percent. Canara Bank is giving the highest interest on FDs of 3 to 5 years.
HDFC Bank
HDFC Bank provides FD service to its customers from 7 days to 10 years, in which they get interest ranging from 3.00 percent to 7.90 percent. HDFC Bank is giving the highest interest on FDs of 4 years 7 months to 55 months.
ICICI Bank
ICICI Bank provides FD service to its customers from 7 days to 10 years, in which they get interest ranging from 3.00 percent to 7.85 percent. ICICI Bank is giving the highest interest on FDs of 15 months to 18 months.
Axis Bank
Axis Bank provides FD service to its customers for a period of 7 days to 10 years, in which they get interest ranging from 3.00 percent to 7.95 percent. Axis Bank is paying the highest interest on FDs of 1 year to 15 months.
IDBI Bank
IDBI Bank provides FD service to its customers for a period of 7 days to 20 years, in which they get interest ranging from 3.00 percent to 7.50 percent. IDBI Bank is paying the highest interest on FDs of 2 to 3 years.
IndusInd Bank
IndusInd Bank provides FD service to its customers for a period of 7 days to 5 years, in which they get interest ranging from 3.50 percent to 8.49 percent. IndusInd Bank is paying the highest interest on FDs of 1 year 5 months to 1 year 6 months.
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