FD Rates Revised: Top Public Sector Banks Raise Interest Rates On Fixed Deposits | Check Details

Fixed deposits (FDs) are a smart choice for conservative investors looking for stable returns with capital safety. In light of the recent repo rate cut by the Reserve Bank of India (RBI), several public sector banks have revised their FD interest rates, creating a timely opportunity to lock in attractive returns.

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Top FD Rates from Public Sector Banks:

Bank of Maharashtra currently offers the highest FD rate among public sector banks, 7.15 percent for a 366-day deposit. Other rates include 6.25 percent for one year, 6.30 percent for three years, and 6.25 percent for five years.

Indian Overseas Bank provides 7.10 percent on 444-day FDs, 6.70 percent for one year, and 6.30 percent for both three-year and five-year deposits.

Punjab and Sind Bank offers 7.05 percent on 444-day FDs, with lower rates for standard tenures: 6.10 percent for one year, 6 percent for three years, and 6.35 percent for five years.

Bank of India features a special 999-day Green FD at 7 percent, alongside regular FD rates of 6.50 percent for one year, 6.25 percent for two years, and 6 percent for five years.

Central Bank of India is also offering 7 percent on deposits ranging from two to three years, and on special FDs of 1111, 2222, and 3333 days. Standard rates include 6.70 percent for one year, 6.75 percent for three years, and 6.50 percent for five years.

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Fixed deposits continue to be a reliable investment option, especially for risk-averse investors, offering assured returns and capital protection. With several public sector banks offering revised, higher interest rates, this could be an opportune time to invest for the medium to long term.

(With IANS Inputs)