PUBLIC SECTOR BANK INTEREST RATES
COMPARITIVE FD INTEREST RATES OF PUBLIC SECTOR BANKS
PLAN N PROGRESS compares  interest rates of various banks . Â
 1. We  have selected  periods of 1 year and 5 years   for comparison of interest rates offered by Indian commercial banks including  Public Sector banks , Private Sector Banks and Foreign banks with a network of branches and also Small Finance banks , new breed of banks in India . Below tables give information on interest rates offered by various banks .Â
2 . The interest rates are on retail term deposits for public and senior citizens .Â
3. Normally interest  rates quoted are valid for an amount of less than Rs 2 crore .Â
4. For actual terms and conditions and the latest rates , you may visit the websites of the banks listed at the end alphabetically .Â
5. The rates taken by us are  updated on or about 24th , January  , 2024  and are subject to change . Â
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2 . The interest rates are on retail term deposits for public and senior citizens .Â
3. Normally interest  rates quoted are valid for an amount of less than Rs 2 crore .Â
4. For actual terms and conditions and the latest rates , you may visit the websites of the banks listed at the end alphabetically .Â
5. The rates taken by us are  updated on or about 24th , January  , 2024  and are subject to change . Â
​​
Which bank pays maximum interest on FD?
 IOB PAYS HIGHEST FOR 1 YEAR
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Dated 24.01.2024 :  Indian overseas Bank is paying highest rate of 7.4 % pa for the senior citizens for deposits for 1 year . It's also paying highest rate of 6.90 % pa for the general public .Â
​State Bank of India is paying highest rate of 7.5 % pa to the senior citizens for their 5 year deposits . Canara Bank is paying highest rate of 6.70 % pa for 5 years period for the general publicÂ
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Dated 24.01.2024 :  Indian overseas Bank is paying highest rate of 7.4 % pa for the senior citizens for deposits for 1 year . It's also paying highest rate of 6.90 % pa for the general public .Â
​State Bank of India is paying highest rate of 7.5 % pa to the senior citizens for their 5 year deposits . Canara Bank is paying highest rate of 6.70 % pa for 5 years period for the general publicÂ
​FOR ONE YEAR DEPOSITSÂ
 A. The public sector banks are offering interest rates between 6.10 %  % to 6.90  % for public ( 6.60 % to 7.40  % to Senior Citizens )  . Â
​B.  The private sector banks are offering interest rates between 5.00 % to 7.50 %  %  for public and between 5.50 % to 8.25 %   for senior citizens . Â
C.      The  Small Finance banks are paying interest now in the range of 6.00 % to 8.50 %  for public and 6.50 % to 9.00 % for the senior  citizensÂ
Â
FOR 5 YEAR DEPOSITSÂ
​A.  Public sector banks pay between 6.00  % to 6.70  % ( 6.50  % to 7.50 % for senior citizens ) ​​
B. Private sector banks pay between 5.75 % to 7.25 % ( 6.25 % to 8.00 % for senior citizens )  .Â
​​
 C. Small finance banks pay  between 6.25 % to 8.25  % for public ( 6.75 % to 8.75  % for senior citizens ).​
There are NBFC companies , co-operative societies and corporates who pay higher interest rates , but have higher risk weight-ages .Â
SPECIAL DEPOSITSÂ FOR SENIOR CITIZENS AND GENERAL PUBLIC
Some banks have introduced special deposit schemes for senior citizens and general public  for special number of days with special interest rates . Some also are offering additional interest rates for deposits of period above 5 years for the senior citizens .Â
​
NOTE :Â
1.   Depositors   get DICGC cover  of Rs 5.00 lakhs on Bank Deposits as insurance .Â
​​​​​​​​​
 A. The public sector banks are offering interest rates between 6.10 %  % to 6.90  % for public ( 6.60 % to 7.40  % to Senior Citizens )  . Â
​B.  The private sector banks are offering interest rates between 5.00 % to 7.50 %  %  for public and between 5.50 % to 8.25 %   for senior citizens . Â
C.      The  Small Finance banks are paying interest now in the range of 6.00 % to 8.50 %  for public and 6.50 % to 9.00 % for the senior  citizensÂ
Â
FOR 5 YEAR DEPOSITSÂ
​A.  Public sector banks pay between 6.00  % to 6.70  % ( 6.50  % to 7.50 % for senior citizens ) ​​
B. Private sector banks pay between 5.75 % to 7.25 % ( 6.25 % to 8.00 % for senior citizens )  .Â
​​
 C. Small finance banks pay  between 6.25 % to 8.25  % for public ( 6.75 % to 8.75  % for senior citizens ).​
There are NBFC companies , co-operative societies and corporates who pay higher interest rates , but have higher risk weight-ages .Â
SPECIAL DEPOSITSÂ FOR SENIOR CITIZENS AND GENERAL PUBLIC
Some banks have introduced special deposit schemes for senior citizens and general public  for special number of days with special interest rates . Some also are offering additional interest rates for deposits of period above 5 years for the senior citizens .Â
​
NOTE :Â
1.   Depositors   get DICGC cover  of Rs 5.00 lakhs on Bank Deposits as insurance .Â
​​​​​​​​​
INTEREST RATES FOR 1 YEAR AND INTEREST RATES FOR 5 YEARS
PUBLIC SECTOR BANKS INTEREST RATES
​​Interest Rates for 1year for General public and Senior Citizens :Â
                                                                                Â
 1. .BANK OF BARODA   -                6.85 % (  7.35 % for the Senior Citizens )
02.BANK OF INDIAÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 6.50Â Â % (Â Â 7.00 %Â for the Senior Citizens )
03.BANK OF MAHARASHTRAÂ Â Â Â Â Â Â Â Â Â Â Â Â Â 6.50 % (Â Â 7.00 %Â for the Senior Citizens )
04. CANARA BANKÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 6.85 % (Â Â 7.35 %Â for the Senior Citizens )
05.CENTRAL BANK OF INDIAÂ Â Â Â Â Â Â Â Â Â Â Â Â Â 6.75 % (Â Â 7.25 %Â for the Senior Citizens )
06.INDIAN BANKÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 6.10 %Â (Â Â 6.60 %Â for the Senior Citizens )
07.INDIAN OVERSEAS BANKÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â 6.90 % (Â Â 7.40 %Â for the Senior Citizens )
08.PUNJAB & SIND BANKÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 6.20Â Â % (Â Â 6.70 %Â for the Senior Citizens )
09.PUNJAB NATIONAL BANKÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â 6.75 % (Â Â 7.25 %Â for the Senior Citizens & 7.55 % for Super Seniors )
10.STATE BANK OF INDIAÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 6.80 % (Â Â 7.30 %Â for the Senior Citizens )
11.UCO BANKÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 6.50 % (Â Â 6.75 %Â for the Senior Citizens )
12.UNION BANK OF INDIAÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 6.75 % (Â Â 7.25 %Â for the Senior Citizens )
                                                                                Â
 1. .BANK OF BARODA   -                6.85 % (  7.35 % for the Senior Citizens )
02.BANK OF INDIAÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 6.50Â Â % (Â Â 7.00 %Â for the Senior Citizens )
03.BANK OF MAHARASHTRAÂ Â Â Â Â Â Â Â Â Â Â Â Â Â 6.50 % (Â Â 7.00 %Â for the Senior Citizens )
04. CANARA BANKÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 6.85 % (Â Â 7.35 %Â for the Senior Citizens )
05.CENTRAL BANK OF INDIAÂ Â Â Â Â Â Â Â Â Â Â Â Â Â 6.75 % (Â Â 7.25 %Â for the Senior Citizens )
06.INDIAN BANKÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 6.10 %Â (Â Â 6.60 %Â for the Senior Citizens )
07.INDIAN OVERSEAS BANKÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â 6.90 % (Â Â 7.40 %Â for the Senior Citizens )
08.PUNJAB & SIND BANKÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 6.20Â Â % (Â Â 6.70 %Â for the Senior Citizens )
09.PUNJAB NATIONAL BANKÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â 6.75 % (Â Â 7.25 %Â for the Senior Citizens & 7.55 % for Super Seniors )
10.STATE BANK OF INDIAÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 6.80 % (Â Â 7.30 %Â for the Senior Citizens )
11.UCO BANKÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 6.50 % (Â Â 6.75 %Â for the Senior Citizens )
12.UNION BANK OF INDIAÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 6.75 % (Â Â 7.25 %Â for the Senior Citizens )
PUBLIC SECTOR BANK INTEREST RATES FOR 5 YEARS DEPOSITS
Interest Rates for 5 years for General public and Senior Citizens :Â
                                                                                Â
 1. .BANK OF BARODA   -                6.50% (  7.15 % for the Senior Citizens )
02.BANK OF INDIA                       6.00  % (  6.75 % for the Senior Citizens and 6.90 % for super senior citizens )
03.BANK OF MAHARASHTRAÂ Â Â Â Â Â Â Â Â Â Â Â Â Â 6.00 % (Â Â 6.50 %Â for the Senior Citizens )
04. CANARA BANKÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 6.70Â % (Â Â 7.20 %Â for the Senior Citizens )
05.CENTRAL BANK OF INDIAÂ Â Â Â Â Â Â Â Â Â Â Â Â Â 6.25Â % (Â Â 6.75 %Â for the Senior Citizens )
06.INDIAN BANKÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 6.25 % (Â Â 6.75 %Â for the Senior Citizens )
07.INDIAN OVERSEAS BANKÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â 6.50Â % (Â Â 7.00 %Â for the Senior Citizens )
08.PUNJAB & SIND BANKÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 6.00Â % (Â Â 6.50%Â for the Senior Citizens )
09.PUNJAB NATIONAL BANK               6.50 % (  7.00 % for the Senior Citizens  and 7.30 % super seniors )
10.STATE BANK OF INDIAÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 6.50 % (Â Â 7.50 %Â for the Senior Citizens )
11.UCO BANKÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 6.20% (Â Â 6.70 %Â for the Senior Citizens )
12.UNION BANK OF INDIAÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 6.50Â % (Â Â 7.00 %Â for the Senior Citizens )
                                                                                Â
 1. .BANK OF BARODA   -                6.50% (  7.15 % for the Senior Citizens )
02.BANK OF INDIA                       6.00  % (  6.75 % for the Senior Citizens and 6.90 % for super senior citizens )
03.BANK OF MAHARASHTRAÂ Â Â Â Â Â Â Â Â Â Â Â Â Â 6.00 % (Â Â 6.50 %Â for the Senior Citizens )
04. CANARA BANKÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 6.70Â % (Â Â 7.20 %Â for the Senior Citizens )
05.CENTRAL BANK OF INDIAÂ Â Â Â Â Â Â Â Â Â Â Â Â Â 6.25Â % (Â Â 6.75 %Â for the Senior Citizens )
06.INDIAN BANKÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 6.25 % (Â Â 6.75 %Â for the Senior Citizens )
07.INDIAN OVERSEAS BANKÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â 6.50Â % (Â Â 7.00 %Â for the Senior Citizens )
08.PUNJAB & SIND BANKÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 6.00Â % (Â Â 6.50%Â for the Senior Citizens )
09.PUNJAB NATIONAL BANK               6.50 % (  7.00 % for the Senior Citizens  and 7.30 % super seniors )
10.STATE BANK OF INDIAÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 6.50 % (Â Â 7.50 %Â for the Senior Citizens )
11.UCO BANKÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 6.20% (Â Â 6.70 %Â for the Senior Citizens )
12.UNION BANK OF INDIAÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 6.50Â % (Â Â 7.00 %Â for the Senior Citizens )
    SPECIAL SCHEMES OF BANKS  FOR SPECIAL PERIOD :Â
​1.  Bank of Baroda   Â
a. offers 7.65 %  for 399 days  for the Senior Citizens  ( General public 7.15 % )
​2. Bank of Maharashtra  offers 7.50 %  for 200 days  for the Senior Citizens  ( General public 7.00 % ) and  7.25 %  for 400 days , only for the Senior Citizens  ( General public 6.75  % )
3. Canara Bank   offers 7.75 %  for 444 days  for the Senior Citizens  ( General public 7.25  % )Â
​.
 4.  Central Bank India  offers  Â
a.  1.  7.60 %  for 444  days  for the Senior Citizens  ( General public 7.10  % )
2.   7.00  %  for 999 days for the Senior Citizens  ( General public 6.50  % ) for callable depositsÂ
b.   The deposits under non-callable scheme will attract additional rate of interest as below:  Senior Citizen – 0.15%
​5.  Indian  Bank   offers    7.75 %  for 400 days  for the Senior Citizens  ( General public 7.25 % )  and 8 % pa for super senior citizensÂ
​6. Indian Overseas Bank   offers  7.60 %  for 444 days  for the Senior Citizens  ( General public 7.10 % ) Â
​7. Punjab & Sind  Bank   offers  7.90 % for 444  for the senior citizens ( General public 7.40 % )  ,  Â
8 .  Punjab National Bank   offers  7.75 %  for 444 days  for the Senior Citizens  ( General public 7.25  % ) Â
9 .  Union Bank of India   offers  7.75 %  for 399 days  for the Senior Citizens  ( General public 7.25   % ) . ​​
​1.  Bank of Baroda   Â
a. offers 7.65 %  for 399 days  for the Senior Citizens  ( General public 7.15 % )
​2. Bank of Maharashtra  offers 7.50 %  for 200 days  for the Senior Citizens  ( General public 7.00 % ) and  7.25 %  for 400 days , only for the Senior Citizens  ( General public 6.75  % )
3. Canara Bank   offers 7.75 %  for 444 days  for the Senior Citizens  ( General public 7.25  % )Â
​.
 4.  Central Bank India  offers  Â
a.  1.  7.60 %  for 444  days  for the Senior Citizens  ( General public 7.10  % )
2.   7.00  %  for 999 days for the Senior Citizens  ( General public 6.50  % ) for callable depositsÂ
b.   The deposits under non-callable scheme will attract additional rate of interest as below:  Senior Citizen – 0.15%
​5.  Indian  Bank   offers    7.75 %  for 400 days  for the Senior Citizens  ( General public 7.25 % )  and 8 % pa for super senior citizensÂ
​6. Indian Overseas Bank   offers  7.60 %  for 444 days  for the Senior Citizens  ( General public 7.10 % ) Â
​7. Punjab & Sind  Bank   offers  7.90 % for 444  for the senior citizens ( General public 7.40 % )  ,  Â
8 .  Punjab National Bank   offers  7.75 %  for 444 days  for the Senior Citizens  ( General public 7.25  % ) Â
9 .  Union Bank of India   offers  7.75 %  for 399 days  for the Senior Citizens  ( General public 7.25   % ) . ​​
 TAX PLANNING FOR FY 2023-24 ( AY 2024-25 )Â
Comprehensive  Article on Income tax changes in Rules, Rates , Slabs , Rebates  and EstimationÂ
CLICK HERE TO READÂ
​
Comprehensive  Article on Income tax changes in Rules, Rates , Slabs , Rebates  and EstimationÂ
CLICK HERE TO READÂ
​
FOR THE FDÂ INTEREST RATES OF PRIVATE SECTOR BANKSÂ , FOREIGN BANKS AND SMALL FINANCE BANKS , CLICK HEREÂ
​UNION BUDGET 2023 AND SENIOR CITIZENS Â
In our new blog article , we have explored what the new IT regime means to senior citizens and what extent senior citizens / retirees / pensioners are gaining / losing from the new regime .As the new regime is optional , one can take studied decisions before opting either of the new or old scheme .
In our new blog article , we have explored what the new IT regime means to senior citizens and what extent senior citizens / retirees / pensioners are gaining / losing from the new regime .As the new regime is optional , one can take studied decisions before opting either of the new or old scheme .
​HEALTH INSURANCE PLANS FOR SENIOR CITIZENS  WITH OR WITHOUT AGE RESTRICTIONSÂ
TOÂ READ THE ARTICLEÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â CLICK HEREÂ
​
TOÂ READ THE ARTICLEÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â CLICK HEREÂ
​
If you have earned from stock market or from sale of properties to know tax liability Read the  NEW ARTICLE ON Â
                              CAPITAL GAIN AND TAXÂ
                      CLICK HERE TO READÂ
                              CAPITAL GAIN AND TAXÂ
                      CLICK HERE TO READÂ
POPULAR WEB SEARCHES :  Many persons search for interest rates  of SBI , BOB , BOI and CBI  . We have given below links to the FD interest pages of all public sector banks including SBI , BOB , BOI and CBIÂ
FD RATES IN SBI
FD RATES IN BOB
FD RATES IN CBI
FD RATES IN BOB
To know the latest interest rates offered by individual banks for various maturities , click on the name of the bank to reach their websites  . ( Banks listed alphabetically  )
       Â
                                                                                Â
 1. .BANK OF BARODA
02.BANK OF INDIA
03.BANK OF MAHARASHTRA
04. CANARA BANK
05.CENTRAL BANK OF INDIA
06.INDIAN BANK
07.INDIAN OVERSEAS BANK
08.PUNJAB & SIND BANK
09.PUNJAB NATIONAL BANK
10.STATE BANK OF INDIA
11.UCO BANK
12.UNION BANK OF INDIA
       Â
                                                                                Â
 1. .BANK OF BARODA
02.BANK OF INDIA
03.BANK OF MAHARASHTRA
04. CANARA BANK
05.CENTRAL BANK OF INDIA
06.INDIAN BANK
07.INDIAN OVERSEAS BANK
08.PUNJAB & SIND BANK
09.PUNJAB NATIONAL BANK
10.STATE BANK OF INDIA
11.UCO BANK
12.UNION BANK OF INDIA
                                         Â
                                    ARTICLES ON  Â
                                   Â
 SMALL FINANCE BANKS                                     PAYMENT  BANKS   Â
                                    Â
UNIFIED Â PAYMENT INTERFACEÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â BHARAT BILL PAYMENT SYSTEMÂ Â Â
     BHIM APP                                                AADHAR Â
      Â
​e-INSURANCE  Account (  eIA  )                                 SWIFT ​
                                    ARTICLES ON  Â
                                   Â
 SMALL FINANCE BANKS                                     PAYMENT  BANKS   Â
                                    Â
UNIFIED Â PAYMENT INTERFACEÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â BHARAT BILL PAYMENT SYSTEMÂ Â Â
     BHIM APP                                                AADHAR Â
      Â
​e-INSURANCE  Account (  eIA  )                                 SWIFT ​