Fixed Deposits, commonly known as FDs, are a popular investment avenue where individuals deposit a lump sum amount with a financial institution for a predetermined period. This fixed tenure can range from a few months to several years. In return, investors receive a fixed interest rate on their principal amount, providing a stable and predictable return.
Benefits of Fixed Deposits
Stability and Predictability: The fixed interest rates offer stability and predictability, making FDs a secure investment choice.
Capital Preservation: FDs assure the preservation of the invested capital, providing a sense of financial security.
Flexible Tenure Options: Investors can choose a tenure that aligns with their financial goals, whether short-term or long-term.
Top government banks that offer the highest FD interest rates:
1. Bank of India
For Regular Citizens
Regular citizens can enjoy FD interest rates ranging from 3.00% to 7.25% p.a. across various tenures, spanning from 7 days to 10 years. This flexibility allows investors to align their investments with specific financial goals.
For Senior Citizens
Senior citizens are entitled to higher interest rates, enjoying returns between 3.00% and 7.75% p.a. This added benefit recognizes the financial needs of those in their golden years.
For Super Senior Citizens
Super senior citizens receive even more lucrative rates, with interest ranging from 3.00% to 7.90% p.a. This offers an attractive avenue for those seeking stable returns in their later stages of life.
Here you check the detailed Fd’s rates:
| Tenure | Interest Rates (% p.a.) | ||
| Regular Citizens | Senior Citizens | Super Senior Citizens | |
| 7 days to 14 days | 3.00 | 3.00 | 3.00 |
| 15 days to 30 days | 3.00 | 3.00 | 3.00 |
| 31 days to 45 days | 3.00 | 3.00 | 3.00 |
| 46 days to 90 days | 4.50 | 4.50 | 4.50 |
| 91 days to 179 days | 4.50 | 4.50 | 4.50 |
| 180 days to 210 days | 5.50 | 6.00 | 6.15 |
| 211 days to 269 days | 5.50 | 6.00 | 6.15 |
| 270 days to less than 1 year | 5.75 | 6.25 | 6.40 |
| 1 year to less than 2 years | 6.50 | 7.00 | 7.15 |
| 2 years | 7.25 | 7.75 | 7.90 |
| Above 2 years to less than 3 years | 6.75 | 7.25 | 7.40 |
| 3 years to less than 5 years | 6.50 | 7.25 | 7.40 |
| 5 years to less than 8 years | 6.00 | 6.75 | 6.90 |
| 8 years to 10 years | 6.00 | 6.75 | 6.90 |
Special FD Products for NRIs
Bank of India caters to the NRI community with specialized fixed deposit products:
NRO Fixed Deposits: Tailored for Non-Resident Ordinary individuals.
NRE Fixed Deposits: Designed for Non-Resident External individuals.
RFC Fixed Deposits: Available in USD and GBP for Returning Indians.
FCNR Fixed Deposits: Accepting deposits in USD, GBP, EUR, CAD, JPY, and AUD.
2. Bank of Baroda
For General Public
The general public can avail themselves of FD interest rates ranging from 3.00% to 7.25% p.a. across varied tenures, spanning 7 days to 10 years. This flexibility empowers investors to align their deposits with specific financial objectives.
For Senior Citizens
Senior citizens enjoy elevated interest rates, ranging from 3.50% to 7.75% p.a. This recognition of the unique financial needs of seniors makes Bank of Baroda an attractive choice for this demographic.
Here you check the detailed Fd’s rates:
| Tenure | Interest Rates (%) p.a. | |
| Regular Citizens | Senior Citizens | |
| 7 days to 14 days | 3.00 | 3.50 |
| 15 days to 45 days | 3.50 | 4.00 |
| 46 days to 90 days | 5.00 | 5.50 |
| 91 days to 180 days | 5.00 | 5.50 |
| 181 days to 210 days | 5.50 | 6.00 |
| 211 days to 270 days | 6.00 | 6.50 |
| 271 days & above and less than 1 year | 6.25 | 6.75 |
| 1 year | 6.75 | 7.25 |
| Above 1 year to 400 days | 6.75 | 7.25 |
| Above 400 days and up to 2 years | 6.75 | 7.25 |
| Above 2 years and up to 3 years | 7.25 | 7.75 |
| Above 3 years and up to 5 years | 6.50 | 7.15* |
| Above 5 years and up to 10 years | 6.50 | 7.50** |
| 399 days (Baroda Tiranga Plus Deposit Scheme) | 7.15 | 7.65 |
Special FD Products for NRIs
Bank of Baroda extends its services to NRIs with specialized fixed deposit products:
NRO Fixed Deposits: Tailored for Non-Resident Ordinary individuals.
NRE Fixed Deposits: Designed for Non-Resident External individuals.
FCNR Fixed Deposits: Accepting deposits in USD, GBP, EUR, AUD, and CAD.
3. Punjab National Bank
For General Public
PNB extends FD interest rates ranging from 3.50% to 7.25% p.a. for the general public, covering tenures spanning 7 days to 10 years. This flexibility empowers investors to choose deposits aligned with their specific financial goals.
For Senior Citizens
Senior citizens enjoy enhanced interest rates, ranging from 4.00% to 7.75% p.a. This acknowledgment of the unique financial needs of seniors positions PNB as an appealing choice for this demographic.
Here you check the detailed Fd’s rates:
| Tenure | Interest Rates (% p.a.) | ||
| Regular Citizens | Senior Citizens | Super Senior Citizens | |
| 7 to 14 days | 3.50 | 4.00 | 4.30 |
| 15 to 29 days | 3.50 | 4.00 | 4.30 |
| 30 to 45 days | 3.50 | 4.00 | 4.30 |
| 46 to 90 days | 4.50 | 5.00 | 5.30 |
| 91 to 179 days | 4.50 | 5.00 | 5.30 |
| 180 to 270 days | 6.00 | 6.50 | 6.80 |
| 271 days to less than 1 year | 6.25 | 6.75 | 7.05 |
| 1 year | 6.75 | 7.25 | 7.55 |
| Above 1 year to 443 days | 6.80 | 7.30 | 7.60 |
| 444 days | 7.25 | 7.75 | 8.05 |
| 445 days to 2 years | 6.80 | 7.30 | 7.60 |
| Above 2 years to 3 years | 7.00 | 7.50 | 7.80 |
| Above 3 years to 5 years | 6.50 | 7.00 | 7.30 |
| Above 5 years to 10 years | 6.50 | 7.30 | 7.30 |
Special FD Products for NRIs:
PNB caters to NRIs with specialized fixed deposit products:
NRO Fixed Deposits: Tailored for Non-Resident Ordinary individuals.
NRE Fixed Deposits: Designed for Non-Resident External individuals.
FCNR (B) Fixed Deposits: Accepting deposits in USD, GBP, EUR, CAD, JPY, and AUD.