Since the increase in the repo rate by the Reserve Bank of India, government banks as well as private banks and public sector banks have increased interest rates on their fixed deposits, but you can get accurate information about what interest rates are going on in all banks. You can see it here below.
FD Interest Rates 2022: If you are planning to invest on Fixed Deposit in the bank. Then this news can prove to be of your use. In this news, we are going to tell you that in which government bank (Public Sector Bank) is being given the highest interest on FD. Today, making an FD in a government bank is considered to be the most popular investment in the country. There is absolutely no risk in this with fixed returns.
These banks increased the basis points
State Bank of India (SBI Bank), the country’s largest government bank, has increased the FD by 90 basis points. Similarly, Bank of Baroda (BOB), Punjab National Bank (PNB) and Canara Bank have started Special FD Schemes with attractive interest rates.
Interest is getting from 7 to 7.25 percent
Investors can deposit their money in these banks. Let us tell you that by depositing money in it, you can take interest from 7 to 7.25 percent. Also, interest from 7.5 to 7.75 percent is being available on FD scheme for senior citizens.
RBI hikes repo rate
Let us tell you that the Reserve Bank of India has increased the repo rate by 1.90 percent for about 4 times from May to November. After which now taking loan has become expensive. The same fixed deposit investors have got the benefit. In the last few months most of the banks have increased the interest rates on FDs. This has benefited both pensioners and senior citizens.
How much interest is getting
You should definitely see the interest rate on FD once. You can also compare the interest rates of several banks simultaneously.
| Bank Name | 6 Months to 1 Year (%) | 1 To 2 Years (%) | 2 To 3 Years (%) | 3 To 5 Years (%) | 5 Years and Above (%) |
| State Bank of India | 5.5 | 6.1 | 6.25 | 6.1 | 6.1 |
| Bank of Baroda | 4.65 | 5.5-5.75 | 5.55-6 | 5.65 | 5.65 |
| Bank of India | 4.6 | 5.75-6.3 | 5.75-7.25 | 6.25 | 5.75 |
| Canara Bank | 5.5 | 6.25-7 | 6.25 | 6.5 | 6.5 |
| Central Bank of India | 4.65-4.75 | 5.55-5.75 | 5.6-6.25 | 5.5 | 5.6 |
| Indian Bank | 4.5-4.75 | 6.1-6.3 | 6.5 | 6.4 | 6.4 |
| Punjab National Bank | 5.5 | 6.3-7 | 6.25 | 6.1 | 6.1 |
| Bank of Maharashtra | 5 | 5.4-5.7 | 5.5 | 5.5 | 5.5 |
| Union Bank of India | 4.40-5.25 | 6.3-7 | 6.7 | 6.7 | 6.7 |
