Highest Fixed Deposit Rates: Private vs Public sector banks FD interest rates compared – check list

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Nilesh Desai
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Highest Fixed Deposit Interest Rates: Fixed deposits (FDs) supplied by banks are safe and interest-generating funding choices. With FDs, you possibly can anticipate a assured return in your invested funds, which stay unaffected by market fluctuations. This is the rationale that FDs are a go to funding choice for many threat averse buyers.
Interest rates for mounted deposits are close to all time highs, with RBI pausing the speed cycle for a number of financial coverage conferences now.
Investors have the flexibleness to decide on between the re-funding deposit choice, which permits for the buildup of compound interest, or the choice to obtain interest funds at common intervals (month-to-month/quarterly) to assist their monetary planning and budgeting wants, notes an ET report.
The interest rates supplied on mounted deposits in August 2024 can differ based mostly on a number of components, together with the precise financial institution, the age of the depositor, the tenure of the deposit, and the quantity invested.
In India, non-public banks are monetary establishments the place non-public firms or people maintain nearly all of the fairness, in distinction to public-sector banks the place the federal government is the first shareholder.
Public Sector Undertaking (PSU) banks are ones the place the federal government owns nearly all of the shares. These banks obtain authorities subsidies with the intention of facilitating their development and growth.
For buyers fascinated about evaluating mounted deposit interest rates between non-public and public sector banks, a short evaluation of the mounted deposit rates supplied to each common residents and senior residents is offered beneath.

PSU Banks: Latest Fixed Deposit Interest Rates For General Citizens

Bank Fixed Deposit Rates
Bank Name Interest Rates (p.a.)
Highest slab 1-12 months tenure (%) 3-12 months tenure (%) 5-12 months tenure (%)
% Tenure
PUBLIC SECTOR BANKS
Bank of Baroda 7.25 399 days 6.85 7.15 6.5
Bank of India 7.3 666 days 6.8 6.5 6
Bank of Maharashtra 7.25 777 days 6.75 6.5 6.5
Canara Bank 7.25 444 days 6.85 6.8 6.7
Central Bank of India 7.45 444 days 6.85 6.75 6.5
Indian Bank 7.25 400 days – IND SUPER 6.1 6.25 6.25
Indian Overseas Bank 7.3 444 days 6.9 6.5 6.5
Punjab National Bank 7.25 400 days 6.8 7 6.5
Punjab & Sind Bank 7.3 666 days 6.3 6 6
State Bank of India 7.25 444 days 6.8 6.75 6.5
Union Bank of India 7.4 333 days 6.8 6.7 6.5

Private Banks: Latest Fixed Deposit Interest Rates For General Citizens

Bank Fixed Deposit Rates
Bank Name Interest Rates (p.a.)
Highest slab 1-12 months tenure (%) 3-12 months tenure (%) 5-12 months tenure (%)
% Tenure
PRIVATE SECTOR BANKS
Axis Bank 7.2 17 months to lower than 18 months 6.7 7.1 7
Bandhan Bank 8 1 12 months 9 months 7.25 7.25 5.85
City Union Bank 7.25 400 days 7 6.5 6.25
CSB Bank 7.75 401 days 5 5.75 5.75
DBS Bank 7.5 376 days to 540 days 7 6.5 6.5
DCB Bank 8.05 19 months to twenty months 7.1 7.55 7.4
Federal Bank 7.4 50 months ; 777 days 6.8 7 6.6
HDFC Bank 7.4 4 Year 7 Months (55 months) 6.6 7 7
ICICI Bank 7.25 15 months to 2 years 6.7 7 7
IDFC First Bank 7.75 500 days 6.5 7.25 7
IndusInd Bank 7.75 1 12 months to 2 years 7.75 7.25 7.25
Jammu & Kashmir Bank 7 1 12 months to lower than 3 years 7 6.75 6.5
Karur Vysya Bank 7.6 760 days 7 7 7
Karnataka Bank 7.25 375 days 7.1 6.5 6.5
Kotak Mahindra Bank 7.4 390 days to lower than 23 months 7.1 7 6.2
RBL Bank 8.1 500 days 7.5 7.5 7.1
SBM Bank India 8.25 3 years 2 days 7.05 7.3 7.75
South Indian Bank 7.25 400 Days 6.7 6.7 6
Tamilnad Mercantile Bank 7.5 400 days 7 6.5 6.5
YES Bank 8 18 months 7.25 7.25 7.25

PSU Banks: Latest Fixed Deposit Interest Rates For Senior Citizens

Senior Citizen Fixed Deposit Rates
Bank Name Interest Rates (p.a.) Additional rates supplied to Super Senior Citizen* (over and above to senior citizen rates)
Highest slab 1-12 months tenure (%) 3-12 months tenure (%) 5-12 months tenure (%)
% Tenure
PUBLIC SECTOR BANKS
Bank of Baroda 7.75 399 days 7.35 7.65 7.15 —
Bank of India 7.8 666 days 7.3 7.25 6.75 0.15% on tenures of 180 days to 10 years
Bank of Maharashtra 7.75 777 days 7.25 7 7 —
Canara Bank 7.75 444 days 7.35 7.3 7.2 0.10% on 444 days
Central Bank of India 7.95 444 days 7.35 7.25 7 —
Indian Bank 7.75 400 days – IND SUPER 6.6 6.75 6.75 0.25% on all tenures
Indian Overseas Bank 7.8 444 days 7.4 7 7 0.25% on all tenures
Punjab National Bank 7.75 400 days 7.3 7.5 7 0.30% for tenures as much as 5 years
Punjab & Sind Bank 7.8 666 days 6.8 6.5 6.5 0.15% on tenure of 444 days, 222 days, 666 days, & 999 days
State Bank of India 7.75 444 days 7.3 7.25 7.5 —
Union Bank of India 7.9 333 days 7.3 7.2 7 0.25% on all tenures
Jammu & Kashmir Bank 7.5 1 12 months to lower than 3 years 7.5 7.25 7 —
Karur Vysya Bank 8.1 760 days 7.4 7.4 7.4 —
Karnataka Bank 7.65 375 days 7.5 6.9 6.9 —
Kotak Mahindra Bank 7.9 390 days to lower than 23 months 7.6 7.6 6.7 —
RBL Bank 8.6 500 days 8 8 7.6 0.25% on all tenures
SBM Bank India 8.75 3 years 2 days 7.55 7.8 8.25 —
South Indian Bank 7.75 400 Days 7.2 7.2 6.5 —
Tamilnad Mercantile Bank 8 400 days 7.5 7 7 —
YES Bank 8.5 18 months 7.75 8 8 —

Private Banks: Latest Fixed Deposit Interest Rates For Senior Citizens

Senior Citizen Fixed Deposit Rates
Bank Name Interest Rates (p.a.) Additional rates supplied to Super Senior Citizen* (over and above to senior citizen rates)
Highest slab 1-12 months tenure (%) 3-12 months tenure (%) 5-12 months tenure (%)
% Tenure
PRIVATE SECTOR BANKS
Axis Bank 7.75 5 years to 10 years 7.2 7.6 7.75 —
Bandhan Bank 8.5 1 12 months 9 months 7.75 7.75 6.6 —
City Union Bank 7.75 400 days 7.25 6.75 6.5 —
CSB Bank 7.75 401 days 5.5 6.25 6.25 —
DBS Bank 8 376 days to 540 days 7.5 7 7 —
DCB Bank 8.55 19 months to twenty months 7.6 8.05 7.9 —
Federal Bank 7.9 50 months ; 777 days 7.3 7.5 7.25 —
HDFC Bank 7.9 4 Year 7 Months (55 months) 7.1 7.5 7.5 —
ICICI Bank 7.8 15 months to lower than 18 months 7.2 7.5 7.5 —
IDFC First Bank 8.25 500 days 7 7.75 7.5 —
IndusInd Bank 8.25 1 12 months to 2 years 8.25 7.75 7.75 —
Jammu & Kashmir Bank 7.5 1 12 months to lower than 3 years 7.5 7.25 7 —
Karur Vysya Bank 8.1 760 days 7.4 7.4 7.4 —
Karnataka Bank 7.65 375 days 7.5 6.9 6.9 —
Kotak Mahindra Bank 7.9 390 days to lower than 23 months 7.6 7.6 6.7 —
RBL Bank 8.6 500 days 8 8 7.6 0.25% on all tenures
SBM Bank India 8.75 3 years 2 days 7.55 7.8 8.25 —
South Indian Bank 7.75 400 Days 7.2 7.2 6.5 —
Tamilnad Mercantile Bank 8 400 days 7.5 7 7 —
YES Bank 8.5 18 months 7.75 8 8 —

Source: ET quoting Paisabazaar for interest rates knowledge as on August 14, 2024.


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