New Delhi: Investing in fixed deposits is widely regarded as one of the safest and most lucrative ways to secure your money. Not only does it allow you to save your hard-earned cash, but it also enables you to earn a substantial interest on your investment. Before investing, one needs to explore various aspects of it.
One of them is interest rates. It plays a crucial role in ensuring a good Return on Investment (ROI) over a fixed tenure. Here are the latest fixed deposit interest rates offered by various public sector banks as of March 20, 2024, across all tenures.
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Fixed Deposits (FD) Tenures
The maturity period of fixed deposits is ranging between 7 days to 10 years.
1-Year Tenure FD Rates 2024
Canara Bank, Central Bank of India, Indian Bank, Punjab National Bank, and State Bank of India offer interest rates ranging from 7.1 percent to 7.25 percent for a 1-year tenure.
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3-Year Tenure FD Rates 2024 Rates
Bank of Baroda, Canara Bank, Central Bank of India, Indian Overseas Bank, Punjab National Bank, and Union Bank of India provide interest rates ranging from 6.75 percent to 6.9 percent for a 3-year tenure.
5-Year Tenure FD Rates 2024 Rates
Bank of Baroda, Canara Bank, Indian Overseas Bank, and Punjab National Bank offer interest rates between 6.2 percent and 6.5 percent for a 5-year tenure.
