Fixed deposits are low-risk investment instruments where your money gets locked-in for a defined period. They are a popular investment option for many as the returns are guaranteed. The tenure for FD investment normally ranges from 7 days to 10 years. You can choose the tenure as per your liquidity requirement. In case you are planning to invest in a 1-2 year FD, take a look at the latest interest rates of government banks.
Bank | Interest Rate On >=1 to <=2 |
Bank of Maharashtra | 4.25% |
Bank of Baroda | 4.4% |
Bank of India | 4.75% |
Canara Bank | 4.5% |
Central Bank of India | 4.25% |
IDBI Bank | 4.4% |
Indian Bank | 4.45% |
Indian Overseas Bank | 4.9% |
Punjab National Bank | 4.5% |
Punjab & Sind Bank | 4.85% |
State Bank of India | 4.4% |
UCO Bank | 4.7% |
Union Bank | 4.5% |
Data complied by BankBazaar from respective banks’ website on 16 Oct 2020. For each year range, the maximum offered interest rate is considered; interest rate is for a normal fixed deposit amount below Rs. 1 crore.
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