Great news! Bank FD Interest Rates Are the Highest! These government banks—not SBI—are offering the best yields on FDs; see details

 Great news! Bank FD Interest Rates Are the Highest! These government banks—not SBI—are offering the best yields on FDs; see details

Great news! Bank FD Interest Rates Are the Highest! These government banks—not SBI—are offering the best yields on FDs; see details

FD Rates: In India, the general public's preferred option for making FDs is SBI Bank. Given that SBI is the biggest bank in the nation, the general public has more faith in the company. Regarding the statistics, SBI accounts for 36% of all fixed deposit investments made in government banks.

FD Rates: In India, the general public's preferred option for making FDs is SBI Bank. Given that SBI is the biggest bank in the nation, the general public has more faith in the company. Regarding the statistics, SBI accounts for 36% of all fixed deposit investments made in government banks. The majority of people also think that FD offers the best interest rates, however this is untrue. There are several other government banks that provide higher interest rates than SBI when it comes to fixed-rate loans. The government banks listed below provide higher interest rates than SBI.

Baroda Bank

Of the public sector banks, Bank of Baroda has the highest interest rates on fixed-term deposits. On a three-year FD, interest rates of up to 7.25% are available. In three years, a Rs 1,00,000 investment in FD would increase to Rs 1.24 lakh. Ten percent of all FDs held by public sector banks are held by Bank of Baroda.

National Bank of Punjab

For a three-year FD, Punjab National Bank (PNB) is giving interest rates of up to 7%. In three years, an investment of Rs. 1,00,000 in PNB's FD would increase to Rs. 1.23 lakh. Ten percent of the total funds held in government banks are held by PNB.

Bank Canara

For three-year FDs, Canara Bank provides interest rates as high as 6.8%. In three years, a Rs 100,000 investment in Canara Bank FD would increase to Rs 1.22 lakh.

Indian State Bank

The biggest bank in the nation, State Bank of India (SBI), is ranked sixth in terms of interest rates on three-year fixed-rate bonds. SBI is providing 6.75% yearly interest on fixed-term deposits. In three years, a Rs 1,00,000 investment in SBI FD would increase to Rs 1.23 lakh. The interest rates on FD were been raised by SBI. Since February, the bank has raised the FD rates.

Indian Union Bank

Three-year fixed-rate bonds (FDs) from Union Bank of India, Bank of India, and Indian Overseas Bank come with interest rates as high as 6.5%. In three years, a Rs 1,00,000 investment in a three-year fixed deposit would increase to Rs 1.21 lakh.

UCO Bank

On three-year FDs, UCO Bank is providing interest rates as high as 6.3%. In three years, a Rs 1,00,000 UCO Bank FD investment would increase to Rs 1.21 lakh.