Curated By: Business Desk
Last Updated: October 30, 2023, 17:20 IST
An funding of Rs 1 lakh in three-yr FD in BoB will develop into Rs 1.24 lakh.
Many public sector banks that provide FD returns of over 7%, which is means higher than the SBI FD interest charges.
The State Bank of India (SBI), the biggest public sector bank within the nation, is commonly the primary selection for Indians to open Fixed Deposits (FDs). It holds a 36% share within the whole Fixed Deposits made in authorities banks. However, it doesn’t supply the very best interest charges on FDs. There are different public sector banks that provide FD returns of over 7%, which is means higher than the SBI FD interest charges. For occasion, Bank of Baroda offers 7.25% interest charge on FDs for a length of three years.
To make issues simpler for buyers, we’ve curated an inventory of public sector banks that provide finest FD interest charges for a 3-yr time period.
Bank of Baroda
Bank of Baroda is presently providing the very best interest charges on FDs amongst public sector banks. It offers as much as 7.25% on three-yr FDs. An funding of Rs 1,00,000 in FD would develop to Rs 1.24 lakh over three years. Bank of Baroda has a ten% share within the whole FDs throughout public sector banks, in accordance with a Moneycontrol report.
Punjab National Bank
Punjab National Bank (PNB) is providing as much as 7% interest on a 3-yr FD. Investing Rs 1,00,000 in PNB’s FD would develop to Rs 1.23 lakh over three years. PNB has a ten% share within the whole FDs positioned in authorities banks.
Canara Bank
Canara Bank supplies an interest charge of as much as 6.8% on a 3-yr FD. An funding of Rs 100,000 in Canara Bank’s FD would develop to Rs 1.22 lakh over three years.
Union Bank of India
Union Bank of India, Bank of India, and Indian Overseas Bank are providing interest charges of as much as 6.5% on three-yr FDs. An funding of Rs 1,00,000 in a 3-yr FD would develop to Rs 1.21 lakh over three years.
State Bank of India
The State Bank of India (SBI), the nation’s largest bank, stands fifth when it comes to interest charges on three-yr FDs. SBI offers an annual interest charge of 6.5% on three-yr FDs. An funding of Rs 1,00,000 in SBI’s FD would develop to Rs 1.21 lakh over three years.
UCO Bank
UCO Bank offers interest charges of as much as 6.3% on three-yr FDs. An funding of Rs 1,00,000 in UCO Bank’s FD would develop to Rs 1.21 lakh over three years.
