Here Are The Top 5 Banks Offering Higher Interest Rates On FDs

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Here Are The Top 5 Banks Offeing Higher Interest Rates On FDs

FD rates ranging from 7 days to 10 years are provided by the State Bank of India (SBI), HDFC Bank, Punjab National Bank (PNB), Bank of Baroda (BoB), and Canara Bank. Interest rates on FDs differ by amount, tenure and class of depositor for various banks. So, before investing, it is often important to compare the FD rates provided by different banks. Below we have compared the latest interest rates for the general public on FDs offered by the leading banks of India. (Remember: The following interest rates are only for an amount less than Rs 2 Cr).

SBI FD Interest Rate

SBI FDs provide 2.9 per cent interest between 7 days and 45 days of tenure. Term deposits will have 3.9 per cent between 46 days and 179 days. FDs will fetch 4.4 per cent from 180 days to less than one year. Deposits with maturity from 1 year and up to less than 2 years can now have 4.9% instead of 5.1%. 5.1 per cent will be offered by FDs maturing in 2 years to less than 3 years. FDs of 3 years or less than 5 years will pay 5.3 per cent and 5.4 per cent will be offered by term deposits maturing in 5 years and up to 10 years. These thresholds are valid from 10 September onwards.

  • 7 days to 45 days – 2.9%
  • 46 days to 179 days – 3.9%
  • 180 days to 210 days – 4.4%
  • 211 days to less than 1 year – 4.4%
  • 1 year to less than 2 years – 4.9%
  • 2 years to less than 3 years – 5.1%
  • 3 years to less than 5 years – 5.3%
  • 5 years and up to 10 years – 5.4%

HDFC FD Interest Rates

HDFC Bank proposes an interest rate of 2.50 per cent for deposits within 7 days and 29 days, and 3 per cent on deposits for tenure between 30-90 days. 3.5 per cent on 91 days to 6 months and 4.4 per cent on 6 months from 1 day to less than one year. On FDs maturing in one year, HDFC Bank offers 4.9 per cent to 5 per cent on deposits maturing in two years. FDs maturing in 2 years to 3 years will bring 5.15 per cent and 5.30 per cent in 3 years to 5 years. There will be 5.50 per cent return on deposits for a maturity period of 5 years to 10 years. These interest rates will be valid from 15 October onwards.

  • 7 – 14 days 2.50%
  • 15 – 29 days 2.50%
  • 30 – 45 days 3%
  • 46 – 60 days 3%
  • 61 – 90 days 3%
  • 91 days – 6 months 3.5%
  • 6 months 1 day – 9 months 4.4%
  • 9 months 1 day < 1 Year 4.4%
  • 1 year slashed 4.9%
  • 1 year 1 day – 2 years 5%
  • 2 years 1 day – 3 years 5.15%
  • 3 years 1 day- 5 years 5.30%
  • 5 years 1 day – 10 years 5.50%

PNB Bank FD Interest Rates

On fixed deposits maturing in the span of 7 days to 10 years, PNB is promising an interest rate between 3 per cent and 5.25 per cent. On 7-45 day fixed deposits, PNB proposes an interest rate of 3 per cent and on less than 1 year FDs, it rises by 4.5 per cent. PNB generates 5.20 per cent interest on term deposits maturing from one year to up to 3 years. On deposits maturing over 5 years to 10 years, PNB promises 5.25 per cent interest. These rates are valid as of 1 October 2011.

  • 7 to 14 days – 3%
  • 15 to 29 days – 3%
  • 30 to 45 days – 3%
  • 46 to 90 days – 3.25%
  • 91 to 179 days – 4%
  • 180 days to 270 days – 4.4%
  • 271 days to less than 1 year – 4.5%
  • 1 year – 5.20%
  • Above 1 year & up to 2 years- 5.20%
  • Above 2 years & up to 3 years- 5.20%
  • Above 3 years & up to 5 years – 5.25%
  • Above 5 years & up to 10 years- 5.25 %

Canara Bank FD Interest Rates

Canara Bank proposes an interest rate of 3 per cent for term deposits with maturity duration of 7-45 days. For FDs with maturity duration of 46-90 days, 91 days to 179 days, and 180 days to less than 1 year, the bank offers interest rates of 4, 4.05 and 4.50 per cent, respectively. Canara Bank offers 5.25 per cent for FDs maturing in one year to less than three years. The state-owned bank offers a 5.35 per cent interest rate for FDs for a term of three to ten years. These rates will become valid as of 1 October.

  • 7 days to 45 days -3%
  • 46 days to 90 days – 4%
  • 91 days to 179 days – 4.05%
  • 180 days to less than 1 Year- 4.50%
  • 1 year only – 5.30%
  • Above 1 year to less than 2 years – 5.25%
  • 2 years & above to less than 3 years – 5.25%
  • 3 years & above to less than 5 years- 5.35 %
  • 5 years & above to 10 Years- 5.35 %

Bank of Baroda FD Interest Rates

Bank of Baroda offers 2.9 per cent interest on 7-day to 45-day term deposits. BoB proposes an interest rate of 3.9 per cent for FDs maturing within 46 days to 180 days. The bank offers interest of 4.4 per cent for short-term deposits with maturity duration of 181 days and over and less than 1 year. Bank of Baroda offers 4.9 per cent interest for 1-year term deposits. FDs with maturities of over 1 year and up to 3 years will offer 5.1 per cent interest rate. Long-term FDs with maturities of 3 years and 10 years will offer an interest rate of 5.3 per cent. The rates are effective as of October 3.

  • 7 days to 14 days 2.9%
  • 15 days to 45 days 2.9%
  • 46 days to 90 days 3.9%
  • 91 days to 180 days 3.9%
  • 181 days to 270 days 4.4%
  • 271 days and above and less than 1 year 4.4%
  • 1 year 4.9%
  • Above 1 year to 400 days 5.1%
  • Above 400 days and up to 2 years 5.1%
  • Above 2 years and up to 3 years 5.1%
  • Above 3 years and up to 5 years 5.3%
  • Above 5 years and up to 10 years 5.3%

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