One of the best ways to invest your hard-earned capital is fixed deposits, as they provide guaranteed returns along with capital stability. In contrast with larger banks, small finance banks pay higher interest rates on deposits. Taking a brief peek at interest rates on several well-known governments and private banks’ identified tenures. Below are the details of the interest rates for deposits of below Rs. 1 crore. The rates are active from 24 December 2020 and are collected from the respective websites of banks.
| Bank | ROI in % for <1 year |
ROI in % for 1 to 2 years |
ROI in % for 2 to 3 years |
ROI in % for 3 to 5 years |
| Public Sector Banks | ||||
| Bank of Maharashtra | 4.25 | 4.9 | 4.9 | 4.9 |
| Bank of Baroda | 4.4 | 5 | 5.1 | 5.25 |
| Bank of India | 4.75 | 5.3 | 5.3 | 5.3 |
| Canara Bank | 4.45 | 5.25 | 5.5 | 5.5 |
| Central Bank of India | 4.25 | 4.9 | 5 | 5 |
| IDBI Bank | 4.4 | 5.1 | 5.1 | 5.1 |
| Indian Bank | 4.4 | 5.1 | 5.15 | 5.15 |
| Indian Overseas Bank | 4.9 | 5.2 | 5.2 | 5.2 |
| Punjab National Bank | 4.5 | 5.2 | 5.2 | 5.25 |
| Punjab & Sind Bank | 4.55 | 5.25 | 5.25 | 5.25 |
| State Bank of India | 4.4 | 5.1 | 5.3 | 5.4 |
| UCO Bank | 4.7 | 5 | 5 | 5 |
| Union Bank | 4.5 | 5.3 | 5.5 | 5.55 |
| Private Banks | ||||
| Axis Bank | 5.15 | 5.25 | 5.4 | 5.5 |
| Bandhan Bank | 5.75 | 6 | 6 | 5.75 |
| Catholic Syrian | 4.25 | 5 | 5.25 | 5.25 |
| City Union Bank | 5 | 5.75 | 5.75 | 5.5 |
| DCB Bank | 6.35 | 6.9 | 6.95 | 6.95 |
| Dhanlaxmi Bank | 4.5 | 5.3 | 5.4 | 5.5 |
| Federal Bank | 4.4 | 5.35 | 5.35 | 5.5 |
| HDFC Bank | 4.4 | 4.9 | 5.15 | 5.3 |
| ICICI Bank | 4.4 | 5 | 5.15 | 5.35 |
| IDFC First Bank | 5.25 | 6 | 5.75 | 5.75 |
| IndusInd Bank | 6.15 | 7 | 7 | 6.75 |
| J & K Bank | 4.5 | 5.1 | 5.2 | 5.3 |
| Karnataka Bank | 5.2 | 5.3 | 5.55 | 5.55 |
| Kotak Bank | 4.4 | 4.75 | 4.75 | 4.75 |
| Karur Vysya Bank | 5 | 5.5 | 5.65 | 6 |
| RBL Bank | 6.1 | 6.75 | 6.95 | 6.5 |
| South Indian Bank | 5 | 5.4 | 5.4 | 5.5 |
| Tamilnad Mercantile Bank | 5.25 | 5.75 | 5.65 | 5.5 |
| The Tamil Nadu State Apex Co-operative Bank | 5.75 | 6 | 5.85 | 6 |
| Yes Bank | 5.75 | 6.5 | 6.75 | 6.75 |
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We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at informalnewz@gmail.com
