CBI's big New Year Gift for depositors!
Currently, Punjab and Sind Bank is giving the highest interest rate on fixed deposits to both general and senior citizens.
Central Bank of India has announced a New Year Gift for depositors. The public lender has hiked term deposit interest rates. CBI will now give as high as 7.00 per cent interest rate to general citizens on fixed deposits. But for this, account holders will have to open an FD of 2 years to less than 3 years period. Senor citizens get 7.50 per cent interest on this term deposit.
In the past one year or two, banks in India, have continuously hiked interest rates. Some public banks have even raised interest rates to as high as 7.40 per cent.
If you are looking for an FD with any of the public banks, then, you can check out currently which public lenders are giving the best interest rates in the industry.
Public banks with highest interest rates on fixed deposits:
| Bank | RoI (in %) General Citizens | RoI (in %) Senior Citizens | Tenure |
| Punjab & Sind Bank | 7.40 | 7.90 | 444 days |
| UBI | 7.25 | 7.75 | 399 days |
| BoB | 7.25 | 7.75 | 2 yrs > 3 yrs |
| Canara Bank | 7.25 | 7.75 | 444 days |
| IOB | 7.25 | 7.75 | 444 days |
| PNB | 7.25 | 7.75 | 400 days |
| BoI | 7.25 | 7.75 | 2 years |
| Indian Bank | 7.25 | 7.75 | 400 days |
| SBI | 7.10 | 7.60 | 400 days |
| UCO Bank | 7.05 | 7.55 | 444 days |
| CBI | 7.00 | 7.50 | 2 yrs > 3 yrs |
| BoM | 7.00 | 7.50 | 200 days |
Currently, Punjab and Sind Bank is giving the highest interest rate on fixed deposits to both general and senior citizens. No other public bank is giving as much interest rate on fixed deposits as the New Delhi-based public lender. If account holders open an FD with the state owned bank, then, they can get as high as 7.40 per cent RoI. But for this, they will have to open the FD for 444 days. Senior citizens too will get 0.50 per cent additional rate. They will get as much as 7.90 per cent RoI on FD of this tenure.
Punjab National Bank, Bank of Baroda, Indian Bank, United Bank of India, Bank of India, Canara Bank and Indian Overseas Bank are all giving maximum of 7.25 per cent interest rate on fixed deposits. These banks also give as high as 7.75 per cent rate of interest to senior citizens.
State Bank of India gives as high as 7.10 per cent interest rate to general citizens on FDs of 400 days. Senor citizens get 7.60 per cent interest on this term deposit.
Whereas, with UCO Bank, depositors can get as high as 7.05 per cent rate. But for this, they will have to open an FD for 444 days. Senior citizens will get 0.50 per cent additional RoI here as well. If account holders open an FD with Kolkata based United Bank of India (UBI), then, they can get as high as 7.00 per cent RoI. But for this, they will have to open the FD for 444 days. Elderly will get 7.50 per cent RoI on FD of this tenure.
With Bank of Maharashtra, depositors can get as high as 7.00 per cent RoI. But for this, they will have to open FD of only 200 days.