Fixed deposits are preferred investment options as they offer assured returns and easy liquidity. Fixed deposits are offered for multiple tenures from 7 days to 10 years. Interest rates for each tenure vary from bank to bank. Despite offering low returns, FDs are preferred by investors looking at securing protection for their money. You can open an FD account easily by visiting the bank or through mobile banking and net banking applications. So, if you’re looking to invest in a fixed deposit, here are the latest interest rates advertised by some of India’s prominent public sector banks.
| Bank | <1year | 1 to 2years | 2 to 3years | 3 to 5years |
| Bank of Maharashtra | 4.25 | 4.9 | 4.9 | 4.9 |
| Bank of Baroda | 4.4 | 5 | 5.1 | 5.25 |
| Bank of India | 4.35 | 5.05 | 5.05 | 5.05 |
| Canara Bank | 4.4 | 5.1 | 5.25 | 5.35 |
| Central Bank of India | 4.25 | 5.1 | 5.1 | 5.15 |
| Indian Bank | 4.4 | 5.1 | 5.2 | 5.25 |
| Indian Overseas Bank | 4.9 | 5.2 | 5.2 | 5.2 |
| Punjab National Bank | 4.4 | 5 | 5.1 | 5.25 |
| Punjab & Sind Bank | 4.5 | 5.05 | 5.3 | 5.3 |
| State Bank of India | 4.4 | 5.2 | 5.45 | 5.5 |
| UCO Bank | 4.4 | 5.1 | 5.1 | 5.3 |
| Union Bank | 4.4 | 5.1 | 5.3 | 5.4 |
Disclaimer: Data as on respective banks’ websites on February 18, 2022. All rates for normal FDs amounting to less than Rs.1 crore.
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