The interest rate you receive on a fixed deposit depends on both the amount and the duration of the deposit. Here are five banks that offer the highest interest rates, at 7.25 percent, to regular customers for deposits under Rs 2 crore.
HDFC Bank offers interest rates ranging from 3 percent to 7.25 percent for regular customers and 3.5 percent to 7.75 percent for senior citizens, with deposit tenures spanning from 7 days to 10 years. The longest term, 2 years and 11 months, carries the highest interest rate of 7.25 percent. These rates are effective from May 29, 2023.
Bank of Baroda provides interest rates ranging from 3 percent to 7.25 percent for regular customers and 3.5 percent to 7.75 percent for senior citizens, with deposit durations ranging from 7 days to 10 years. They offer a 399-day term with the highest interest rate of 7.25 percent (Baroda Tiranga Plus Deposit Scheme). These rates are effective from May 12, 2023.
Canara Bank offers interest rates between 4 percent and 7.25 percent for regular customers and 4 percent to 7.75 percent for senior citizens, with deposit tenures ranging from 7 days to 10 years. The highest interest rate of 7.25 percent is available for a 444-day term. These rates are effective from August 8, 2023.
PNB offers interest rates between 3.5 percent and 7.25 percent for regular residents and 4 percent to 7.75 percent for senior citizens, with deposit tenures spanning from 7 days to 10 years. The highest interest rate of 7.25 percent is provided for a 444-day term. These rates will be in effect from July 1, 2023.
Induslnd Bank offers interest rates ranging from 3.5 percent to 7.5 percent for regular customers and 4.25 percent to 8.25 percent for senior citizens, with deposit durations ranging from 7 days to 10 years. These rates are effective from August 5, 2023.
Federal Bank provides interest rates for regular residents ranging from 3 percent to 7.3 percent and for senior citizens from 3.5 percent to 7.8 percent, with deposit tenures ranging from 7 days to 10 years. These rates are effective from September 1, 2023.
