Canara Bank is offering FD interest rate ranging from 3.25 percent per annum to 7 percent per annum. The interest rate on fixed deposits of 7 to 45 days is 3.25 percent. Whereas on FDs of 46 days to 90 days and 91 to 179 days, it is 4.50 percent.
Fixed Deposit Rates: Amid rising FD interest rate, many public sector banks are offering interest rates of 7 percent or more on FDs (PSU Bank FD Rate) , including Canara Bank, Punjab National Bank (PNB) and Bank Of Baroda (BOB) . The interest rates on FDs of these banks are higher than the current retail inflation rate. Let us also tell you that how much interest these government banks are paying on FDs and how much the investors are benefiting.
Canara bank fd rates 2023
Canara Bank is offering FD interest rate ranging from 3.25 percent per annum to 7 percent per annum. The interest rate on fixed deposits of 7 to 45 days is 3.25 percent. Whereas on FDs of 46 days to 90 days and 91 to 179 days, it is 4.50 percent. FD rate of 180 to 269 days and 270 to less than one year is 5.50 percent. Canara Bank is giving 6.75% return on one year FD. The bank is paying 6.80 percent interest on FDs ranging from more than one year to less than two years. Canara Bank is paying 6.50 percent interest on FDs of 5 years and above.
Canara Bank FD rates are applicable for deposits below Rs 2 crore and these rates are effective from December 19, 2022.
PNB FD Rates 2023
From January 1, 2023, Punjab National Bank has changed the interest rate on FDs of one year, 1 year to 665 days, 667 days to 2 years and FDs of more than 2 years and up to 3 years. With effect from January 1, 2023, the PNB FD rate for one year and above is 6.75 per cent per annum for tenures of 1 year to 665 days. It has been increased by 45 bps. Similarly, PNB has increased FD rates from 667 days to 2 years and above 2 years and up to 3 years to 6.75 per cent. Earlier, the PNB FD interest rate was 6.30 per cent for tenure of 667 days to 2 years, while FD return on PNB deposits for tenure above 2 years and up to 3 years was 6.25 per cent. PNB is giving 7.25% annual return on 666 days fixed deposit.
The bank is offering an additional 50 bps FD rate to senior citizens for all tenors. While super senior citizens are getting 30 basis points more returns than senior citizens.
Bank of Baroda FD Interest Rates 2023
Effective from 26 December 2022, Bank of Baroda is getting 7.05 percent return on FD for a period of 399 days under the Baroda Tricolor Plus Deposit Scheme. This BoB FD rate is the highest return among all tenures offered by the bank. On normal FDs, Bank of Baroda FD rates range from 3 per cent to 6.75 per cent.
Like any other bank, it also offers an additional 50 bps return to senior citizens on their FD rates for all tenures. On tax saving FDs for a tenure of 5 years and above, the BoB FD rate is 6.25 per cent. These FD rates are applicable for deposits below Rs 2 crore in Bank of Baroda FD account.