FD Rates: According to the data of Reserve Bank of India for the financial year 2022, investors prefer to invest their money in fixed deposits (FD) of major public sector banks and private banks.
FD Rates: According to the data of Reserve Bank of India for the financial year 2022, investors prefer to invest their money in fixed deposits (FD) of major public sector banks and private banks. According to data, FD investments in major public sector banks and private banks constitute 76 percent of the total bank deposits. The reason behind this is high interest rates. Fixed deposits provide liquidity and assured interest income at regular intervals. Let us know what are the FD interest rates of TOP public banks for a period of three years?
1. Bank of Baroda is offering interest up to 7.25 percent on three-year FD. This bank is offering the best interest rates among public sector banks. The amount of Rs 1 lakh invested here will increase to Rs 1.24 lakh in three years.
2. Punjab National Bank offers interest rates up to 7 percent on three-year FDs. The amount of Rs 1 lakh invested here will increase to Rs 1.23 lakh in three years.
3. Canara Bank offers interest rates up to 6.8 percent on three-year FDs. The amount of Rs 1 lakh invested here will increase to Rs 1.22 lakh in three years.
4. State Bank of India (SBI), Union Bank of India, Bank of India and Indian Overseas Bank offer interest rates up to 6.5 percent on three-year FDs. The amount of Rs 1 lakh invested here will increase to Rs 1.21 lakh in three years.
5. UCO Bank offers interest rates up to 6.3 percent on three-year FDs. The amount of Rs 1 lakh invested here will increase to Rs 1.21 lakh in three years.
6. Indian Bank offers interest rates up to 6.25 percent on three-year FDs. The amount of Rs 1 lakh invested here will increase to Rs 1.20 lakh in three years.
7. Bank of Maharashtra and Punjab and Sindh Bank offer interest rates up to 6 percent on three-year FDs. The amount of Rs 1 lakh invested here will increase to Rs 1.20 lakh in three years.
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