Updated on 14.08.2024 Interest Rates on deposits for various periods for all the banks in India are not the same. Here we have provided interest rates on deposits offered by all the public sector banks and large private sector banks in India. You may compare them at a glance.
The names of public sector banks and private sector banks are separately listed below in alphabetic order. The table on the right side of the bank’s name shows the interest rate for domestic deposits of below three crores offered by the respective bank for 1 year, 2 years, 3 years 5 years, and above 5 years which are updated at regular intervals.
CLICK the Bank’s name that navigates you to the concerned bank’s official website showing the present interest rate, offered by them on all types of deposits including Domestic Fixed deposits of above Rupees 2 crores, SB A/cs, NRE/NRO/FCNR deposits.
Almost all the banks offer additional interest for Senior citizens on domestic deposits. Please find out the interest rates for Senior citizens and Super Senior Citizens (80 years and above age)
CLICK THE BANK’S NAME FOR THE LATEST RATES (LAST UPDATED on 14.08.2024)
| Public sector Banks as of 14.08.2024 interest rate in percentage per annum |
| Bank’s Name | 1 Year | 2 Years | 3 Years | 5 Years | 5+ Years | Special rates |
| Bank of Baroda | 6.85 | 6.85 | 7.15 | 6.50 | 6.50 | 399 days 7.25 |
| Bank of India | 6.80 | 6.80 | 6.75 | 6.50 | 6.50 | 666 days 7.30 |
| Bank of Maharashtra | 6.75 | 6.50 | 6.50 | 6.50 | 6.50 | 400 days 7.10 |
| Canara Bank | 6.85 | 6.85 | 6.80 | 6.70 | 6.70 | 444 days 7.25 |
| Central Bank | 6.85 | 7.00 | 6.75 | 6.50 | 6.50 | |
| IDBI Bank (privatized) | 6.80 | 7.00 | 6.50 | 6.50 | 6.25 | |
| Indian Bank | 6.10 | 6.70 | 6.25 | 6.25 | 6.10 | 400 days 7.25 |
| I.O.B | 7.10 | 7.30 | 6.80 | 6.50 | 6.50 | 444 days 7.30 |
| Punjab National Bank | 6.80 | 6.80 | 7.00 | 6.50 | 6.50 | 400 days 7.25% |
| Punjab & Sind Bank | 6.20 | 6.00 | 6.00 | 6.00 | 6.25 | 444 days 7.25 |
| UCO Bank | 6.50 | 6.50 | 6.30 | 6.20 | 6.10 | 400 days 7.05 |
| Union Bank | 6.80 | 6.60 | 6.70 | 6.50 | 6.50 | |
| State Bank of India | 6.80 | 7.00 | 6.75 | 6.50 | 6.50 |
Rate of interest (percent per annum) on term deposits of major private sector banks -at a glance.
Last Updated on 14.08.2024
|
Bank’s Name |
1 Year |
2 Years |
3 Years |
5 Years |
5+ Years |
As appeared on the official websites of the respective banks as of 14.08.2024 |
|
7.25 |
7.20 |
7.20 |
7.20 |
720 |
||
|
7.10 |
7.50 |
7.55 |
7.40 |
7.25 |
||
|
6.80 |
7.05 |
7.00 |
6.60 |
6.60 |
||
|
7.00 |
7.00 |
6.50 |
6.50 |
6.50 |
||
|
6.60 |
7.00 |
7.00 |
7.00 |
7.00 |
||
|
6.70 |
7.25 |
7.00 |
7.00 |
7.00 |
||
|
7.00 |
7.00 |
650 |
6.50 |
6.50 |
||
|
7.10 |
7.10 |
6.50 |
6.50 |
5.80 |
375 days 7.25 | |
|
7.00 |
7.00 |
7.00 |
7.00 |
6.25 |
||
|
7.10 |
7.15 |
7.00 |
7.00 |
6.20 |
||
|
7.50 |
8.00 |
7.50 |
7.10 |
7.00 |
||
|
6.70 |
6.50 |
6.70 |
6.00 |
6.00 |
||
|
7.75 |
7.25 |
7.25 |
7.25 |
7.00 |
Disclaimer: Public Sector Banks are the banks where the Government of India has the majority capital stake and in Private Sector Banks, the private promoters and the general public are the shareholders. This website neither recommends the readers put their deposit in any specific bank nor take any responsibility, in the event of a bank failing or going into liquidation or reconstructed or amalgamated, or merging with another bank.
As interest rates are subject to change without prior notice, the depositor shall ascertain from the concerned bank, the rates on the value date of FD. Readers/bankers/financial institutions may inform us about updates, corrections or any inclusions to be made in this post. Banks at their discretion offer additional interest to the resident senior citizens (of age 60 years and above), over and above the rate of interest admissible to the general public. (Example: plus 0.25% p.a., 0.40% p.a., plus 0.50% p.a., maximum up to plus 1.00%). At present, most banks offer 0.50% additional interest to Senior citizens over and above the rate of interest admissible to the general public. Senior Citizens are therefore required to check the additional interest offered to them by the concerned bank before depositing their money.
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