PUBLIC SECTOR BANK INTEREST RATES

COMPARITIVE FD INTEREST RATES OF PUBLIC SECTOR BANKS

PLAN N PROGRESS compares    interest rates of various banks . 

 Interest rates   are  going down continuously   in recent years  and   the trend has continued in recent months also  .   

 1. We    have here selected   periods of 1 year and 5 years     for comparison of interest rates offered by   Public Sector banks  .  Below table  give information on interest  rates offered by various  government owned banks  . 

2 . The interest rates are  on retail term deposits  for public and senior citizens . 

3. Normally interest   rates quoted are valid  for  an amount of less than Rs 2 crore  . 

4. For actual terms and conditions  and the latest  rates  , you may visit  the websites of the banks listed at the end alphabetically . 

5. The rates taken by us are   updated  on or about  09th  July , 2020   and are subject to change  .   

6 . We have noted that interest rates are   going down steadily in recent periods . 

Which Public sector bank provides maximum interest on FD?

FOR ONE YEAR DEPOSITS 

 The public sector banks  are offering interest rates between 5.10  % to 5.60  %  1 year deposits for public and  0.5 % more  for senior citizens  .  Punjab & Sind Bank is  paying highest interest rate of  5.55  % for the public and  Bank of India  at  6.15 % for the senior citizens . 

FOR 5 YEAR DEPOSITS 

  Public sector banks pay between 5.25 % to  5.70  %  for 5 year term deposits ( 5.35 %  to 6.20  %  for senior citizens )   .  Punjab & Sind Bank is here also paying highest interest rate  of 5. 55 %  for the public .  State Bank of India is  paying 6.2 %  for the senior citizens  . 

 

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INTEREST RATES FOR 1 YEAR AND INTEREST RATES FOR 5 YEARS

PUBLIC SECTOR BANKS INTEREST RATES

BANK NAME	INTEREST FOR 1 YEAR PUBLIC	INTEREST FOR 1 YEAR  SENIOR CITIZENS	INTEREST FOR 5 YEAR PUBLIC	INTEREST FOR 5 YEAR  SENIOR CITIZENS	SPECIAL RATES FOR SENIORS ABOVE 5 YEARS UP TO 10 YEARS
STATE BANK OF INDIA ​​	5.10	5.60	5.40	6.20	6.20
UCO BANK ​​	5.50	​5.75	5.45	​5.95	5.95
​BANK OF BARODA	5.10	5.60	5.30	5.80	6.30
BANK OF INDIA	5.50	6.15	5.40	5.90	6.15
BANK OF MAHARASHTRA	​5.25	5.75	5.25	5.75	5.75
UNION BANK OF INDIA ​	5.40	5.90	5.45	5.95	5.95
​CANARA BANK	5.50	6.00	5.45	5.95	5.95
CENTRAL BANK OF INDIA	5.35	​5.35	5.35	​5.35	5.35
​INDIAN BANK	5.45	5.95	5.35	5.85	5.85
​INDIAN OVERSEAS BANK	5.40	5.90	5.45	5.95	5.95
​​PUNJAB NATIONAL BANK ​	5.25	6.00	5.30	6.05	6.05
​PUNJAB & SIND BANK	5.55	6.05	5.55	6.05	6.05

 TAX PLANNING FOR FY 2019-20 ( AY 2020-21 ) 
Comprehensive   Article on Income tax changes in Rules, Rates , Slabs , Rebates  and Estimation 

CLICK HERE TO READ 
​

FOR THE FD  INTEREST RATES OF PRIVATE SECTOR BANKS  , FOREIGN BANKS AND SMALL FINANCE BANKS , CLICK HERE 

​UNION BUDGET 2020-21 AND SENIOR CITIZENS  
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 RESTRICTIONS 
TO  READ THE ARTICLE                                                         CLICK HERE 
​

If you have earned  from stock market  or  from sale of properties to  know tax liability  Read  the  NEW ARTICLE ON   
                                                         CAPITAL GAIN AND  TAX 
                                         CLICK HERE  TO READ 

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    )
              
                                                                                                                                                                 
 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

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