Which PSU Banks Offer the Highest FD Rates?
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Synopsis
Discover the latest fixed deposit rates offered by leading public sector banks, including the Bank of Maharashtra, Indian Overseas Bank, and more. This informative article highlights the best options for conservative investors looking to secure high returns in today's financial landscape.
Key Takeaways
- Bank of Maharashtra: 7.15% on 366-day deposits.
- Indian Overseas Bank: 7.10% on 444-day FDs.
- Punjab and Sind Bank: 7.05% on 444-day FDs.
- Bank of India: 7.00% on special Green FD.
- Central Bank of India: 7.00% on deposits of 1111, 2222, and 3333 days.
New Delhi, June 22 (NationPress) Are you searching for lucrative returns on fixed deposits (FDs) from government banks? Several public sector banks have recently updated their interest rates, making this an excellent opportunity for conservative investors to secure favorable returns.
The Bank of Maharashtra leads the pack with the highest interest rate among public sector banks, offering 7.15% on 366-day deposits.
For other tenures, it provides 6.25% for one year, 6.3% for three years, and 6.25% for five years.
Following closely is the Indian Overseas Bank, which offers 7.10% on 444-day FDs. The bank also provides 6.70% for one-year deposits and 6.30% for both three-year and five-year terms.
Punjab and Sind Bank offers 7.05% interest on 444-day FDs. One-year deposits yield 6.10%, while three-year FDs provide 6.00%, and five-year deposits return 6.35%.
The Bank of India features a special 999-day Green FD at 7.00%. Its standard FD rates include 6.50% for one year, 6.25% for two years, and 6.00% for five years.
The Central Bank of India also offers 7.00% on deposits ranging from two to three years, along with 7.00% on special FDs of 1111 days, 2222 days, and 3333 days.
For other terms, it offers 6.70% for one year, 6.75% for three years, and 6.50% for five years.
Fixed deposits continue to be a reliable investment option due to their capital safety and guaranteed returns.
The recent repo rate cut by the Reserve Bank of India (RBI) has led these public sector banks to adjust their FD rates, creating an ideal environment for risk-averse investors to secure higher interest rates for the medium to long term.
Point of View
It's vital to recognize the significance of fixed deposits as a safe investment avenue for conservative investors in India. With recent adjustments in interest rates by public sector banks, this is a prime opportunity for individuals seeking stability and guaranteed returns amid fluctuating market conditions.
NationPress
22/06/2025
Frequently Asked Questions
Which bank offers the highest FD rates?
The Bank of Maharashtra currently offers the highest FD rate at 7.15% for 366-day deposits.
Are fixed deposits safe investments?
Yes, fixed deposits are considered safe as they provide capital safety and guaranteed returns.
What prompted the recent changes in FD rates?
The recent repo rate cut by the Reserve Bank of India (RBI) encouraged public sector banks to revise their FD rates.
What is the FD rate for the Indian Overseas Bank?
The Indian Overseas Bank offers 7.10% on 444-day FDs.
Do fixed deposits provide better returns than savings accounts?
Yes, fixed deposits typically offer higher interest rates compared to standard savings accounts.
