FD Interest Rates: Bank fixed deposits (FDs) are a favored choice for secure investments. You don’t have to worry about losing your money with a bank FD. Plus, the returns are set in advance. This is what makes bank FDs so appealing. Various banks throughout the country provide FDs with different durations and interest rates. If you’re investing in FDs and depending solely on bank FDs for your investments, it’s important to know the interest rates that different banks are offering.
So far this January, three public sector banks have updated their FD interest rates and put the new rates into action. These banks are Canara Bank, Bank of Baroda, and Bank of Maharashtra. Let’s take a closer look at the details.
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Canara Bank FD
Canara Bank, a prominent public sector bank, has updated its fixed deposit interest rates, effective from January 5th. These adjustments have been made for specific time frames, ensuring that investors get better returns than before. Canara Bank is providing the highest interest rate on its 555-day fixed deposit. This callable deposit offers 6.50 percent for regular customers and 7 percent for senior citizens. Additionally, the interest rates for 444-day fixed deposits are 6.45 percent and 6.95 percent for senior citizens.
Bank of Baroda FD
The new FD rates from Bank of Baroda also took effect on January 5th. With the new rates, interest rates for regular customers range from 3.50 to 6.45 percent, while senior citizens can earn up to 7 percent. BOB is giving the best returns to its clients on its 444-day FD. The interest rates on this FD are 6.60 percent for regular customers and 7.20 percent for senior citizens.
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Bank of Maharashtra FD
The updated FD rates from Bank of Maharashtra came into effect on January 7th. With the new rates, interest rates for regular customers range from 2.60 to 6.55 percent. Senior citizens enjoy an additional 0.50 percent on top of the normal rates. Bank of Maharashtra is providing the highest returns to its clients on its 400-day FD. The interest rates on this FD are 6.65 percent for general citizens and 7.15 percent for senior citizens.