India
Which Government Bank Offers the Highest Fixed Deposit Interest Rate? Check Full Details
Fixed Deposits (FDs) remain a preferred investment option for those seeking safety and assured returns. If you are planning to invest in an FD, it is essential to know which government bank is offering the highest interest rates.
Fixed Deposits (FDs) remain a preferred investment option for those seeking safety and assured returns. If you are planning to invest in an FD, it is essential to know which government bank is offering the highest interest rates. Here’s a comparison of FD interest rates across major public sector banks in India.
Bank-Wise Comparison of FD Interest Rates
| Bank Name | Highest Interest Rate | 1-Year FD Interest Rate | 3-Year FD Interest Rate |
|---|---|---|---|
| Central Bank of India | 7.5% | 6.85% | 7.0% |
| Bank of Maharashtra | 7.45% | 6.75% | 6.5% |
| Punjab & Sind Bank | 7.45% | 6.3% | 6.0% |
| Canara Bank | 7.4% | 6.85% | 7.4% |
| Bank of Baroda | 7.3% | 6.85% | 7.15% |
| Bank of India | 7.3% | 6.80% | 6.5% |
| Indian Overseas Bank | 7.3% | 7.1% | 6.5% |
| Indian Bank | 7.3% | 6.1% | 6.25% |
| UCO Bank | 7.3% | 6.5% | 6.3% |
| Union Bank of India | 7.3% | 6.8% | 6.7% |
| Punjab National Bank | 7.25% | 6.8% | 7.0% |
| State Bank of India (SBI) | 7.25% | 6.8% | 7.75% |
Also Read: EPFO 3.0 Revolution: Now Withdraw Your PF Directly from ATMs
Which Bank Offers the Best FD Returns?
- For Highest Interest Rate Overall: Central Bank of India offers the highest FD rate at 7.5%.
- For 1-Year FD: Indian Overseas Bank offers the best rate at 7.1%.
- For 3-Year FD: SBI provides the highest return at 7.75%.
Conclusion
If you are looking for the best FD interest rates among government banks, the Central Bank of India, Bank of Maharashtra, and SBI are some of the top choices, depending on your preferred tenure. Always check with the bank for the latest rates before investing.
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