Current Bank of Baroda FD Interest Rate: BOB offers the highest FD interest rate; see interest & details

 Current Bank of Baroda FD Interest Rate: BOB offers the highest FD interest rate; see interest & details

Indians make significant financial investments in fixed deposits, or FDs. Because there is no chance of losing money and profits are guaranteed, many like FDs. There is one more unique feature of FD. In India, tiny banks provide higher interest rates, while large banks get more FDs. We're going to inform you today which government banks are offering the best interest rates on three-year fixed-rate deposits.

The biggest bank in India is State Bank of India (SBI). Indians also choose this bank over others while applying for FDs. It accounts for 36% of all FDs made in government banks. However, it is not at the top when it comes to offering interest on FD.

Among government banks, Bank of Baroda offers the highest interest rate on fixed deposits, according a Moneycontrol analysis. On three-year FDs, Bank of Baroda is offering interest rates as high as 7.25 percent. In three years, the initial investment of Rs 1 lakh will rise to Rs 1.24 lakh. Six percent of the nation's total FD deposits are held by Bank of Baroda. Ten percent of all FDs held by government banks are by Bank of Baroda.

For a three-year FD, Punjab National Bank is giving interest rates of up to 7%. In three years, the initial investment of Rs 1 lakh will rise to Rs 1.23 lakh. Of the nation's total FD deposits, Punjab National Bank has a 6% stake. Ten percent of all FDs held by government banks are held by PNB.

Interest rates on three-year fixed-rate deposits (FDs) are up to 6.8% at Canara Bank. In three years, the Rs 1.22 lakh that was placed with Canara Bank will rise to Rs 1 lakh. Canara Bank accounts for 12% of all foreign direct investments in the nation.

On three-year FDs, Union Bank of India, Bank of India, and Indian Overseas Bank are providing interest rates as high as 6.5 percent. In three years, the Rs 1.21 lakh invested in these three banks will grow from the current Rs 1 lakh. Eleven percent of all foreign direct investments made in the nation are made at Union Bank of India.

The biggest bank in the nation, State Bank of India (SBI), comes in fourth place when it comes to interest rates on three-year fixed-rate deposits. For three-year fixed-rate deposits, SBI offers interest at a 6.5 percent yearly rate. In three years, the Rs 1.21 lakh FD placed with SBI will rise to Rs 1.21 lakh.

Three-year FDs from UCO Bank have interest rates as high as 6.3 percent. In three years, the initial investment of Rs 1 lakh will rise to Rs 1.21 lakh.