Today we are telling you the names of the top 10 state-run banks which are providing the best interest rates on FD.
FD is considered the best option for safe and risk-free investment. While being safe in FD, it also gives guaranteed returns. In this, depositors get a higher rate of interest than a savings account. The interest rates on FDs vary from bank to bank.
Also, senior citizens get additional interest on FD (fixed deposits). Almost all banks give an additional 0.5% to senior citizens compared to the general public. Today we are telling you the names of the top 10 government banks (PSU banks) which are providing the best interest rates on FD. These interest rates are deposits of up to Rs 2 crore on long-term investments of 5 to 10 years.
Union Bank is offering the highest interest on fixed deposits. The bank is giving 5.60% interest on long term FD. At the same time, senior citizens are getting 6.10% interest. Canara Bank is the second largest lender. It is paying 5.50% interest on Long Term FD, while Senior Citizens is getting 6.00% interest.
State Bank of India is at number three in the list of giving more interest on FD. SBI is giving 5.40% interest to its customers. At the same time, senior citizens get interest at the rate of 6.20%. With this, Bank of India is giving 5.30% and Punjab National Bank is also giving 5.30% interest. Both these banks pay 5.80% interest to senior citizens.
Punjab & Sind Bank is giving 5.25% interest on long term FD to depositors. Also, Bank of Baroda is also offering similar interest. Both these banks pay 5.75% interest to Senior City Jans. Indian Overseas Bank (Indian Overseas Bank) 5.20%, Indian Bank (Indian Bank) 5.15% and IDBI Bank are giving 5.10% on Long Term FD to their customers. These three banks are also offering 0.5% more interest to senior citizens.
