After RBI’s change in monetary policy, most of the banks usually revise their Fixed deposit interest rates in synchronization with RBI. Here we have compared all the 12 public sector banks or nationalized banks – SBI, PNB, BoB, Canera bank, UBI, Indian, IOB, Uco, BoM, PSB, BoI, CBI fixed deposit interest rates at one place.
Major Contents in the Post: (Jump to the Section)
- Fixed Deposit, TDS on FD, Form 15G, Form 15H download
- How to open Fixed deposit in SBI, PNB, BOB etc.
- Penalty when you break FD pre-maturily
- Fixed deposit Interest rate of SBI, State Bank of India for general public
- Fixed deposit rate of PNB, OBC, UBI, BOB, Vijaya, Dena, BOI, CBI for general public
- Fixed deposit rate of Canara, Syndicate, Union, Corporation, Andhra for general public
- Fixed deposit rate of Indian, Allahabad, IOB, UCO, BOM, PSB for general public
- Senior Citizen Fixed deposit Interest rate of SBI, State Bank of India
- Senior Citizen Fixed deposit rate of PNB, OBC, UBI, BOB, Vijaya, Dena, BOI, CBI
- Senior Citizen Fixed deposit rate of Canara, Syndicate, Union, Corporation, Andhra
- Senior Citizen Fixed deposit rate of Indian, Allahabad, IOB, UCO, BOM, PSB
There are so many private banks, co-operative banks and NBFCs, but due to the importance of money, we Indians still prefer Nationalized banks, as there is almost a guarantee from Government.
So on a single page, all the government’s banks’ FD rates for General public and for Senior citizen are mentioned here in table format. It contains period up to 10 years and deposit amount of less than 2 crore only.
Fixed Deposit / Term Deposit:
Fixed Deposit is the term when you deposit your money for a minimum period of 7 days and maximum period of 10 years for most of the banks. Banks give you higher interest rate in comparison to the ‘Savings bank account interest’, which is currently about 2.75 % to 4 % across the banks in India.
TDS rates on Fixed deposit:
On Fixed deposit, the interest rate is higher but this ‘interest income’ will be added to your yearly income and you will be taxed accordingly. Banks usually deduct 10 % TDS (tax deducted at source) on the interest earned, if this interest amount exceeds Rs 40,000/-. But, If you have not given PAN to your bank, then bank will deduct 20 % TDS on the interest earned.
To avoid TDS on Fixed deposit from banks, fill form 15G/15H:
If you don’t want TDS to be deducted by bank, then you have to fill the form 15G / 15H. 15G is the format for individual who is below 60 years of age, while 15H is the format for individual who is above 60 years of age. It does not mean that you won’t be taxed, but now you have to show it in the income tax return file. You can download 15G / 15H below.
How to open Fixed Deposit /Term Deposit:
For existing savings account holders, it is very easy to open FD via online and offline both options. But if you don’t have an account with bank, then also bank will allow to open FD, but only after completing KYC formalities.
Penalty, when you break Fixed Deposit:
It is about 0 to 1 %, which depends on banks and time duration of deposits.
Comparison of all the nationalized banks’ interest rates of Fixed Deposit or Term Deposit:
All the 12 public sector banks’ FD interest rates like SBI Fixed deposit rates, PNB Fixed deposit rates, BOB Fixed deposit rates, Canara Bank Fixed deposit rates, Union bank of India Fixed deposit rates, Indian bank Fixed deposit rates, IOB Fixed deposit rates, UCO Fixed deposit rates, Bank of Maharashtra Fixed deposit rates, Punjab and Sind bank Fixed deposit rates, Bank of India Fixed deposit rates, Central Bank of India Fixed deposit rates are mentioned in tabular format below.
The effective date of rates’ implementation are mentioned with bank name for all the banks below. Click on the bank name below to get official page of bank to get the updated and current information.
FD interest rates for General public (for less than 2 crore deposit):
|FD Duration (Days)||SBI||PNB||BOB||Canera||UBI||IndB||IOB||UCO||BOM||PSB||BOI||CBI|
|7 to 14||2.9||3||2.9||3||3||2.9||3.4||2.75||3||3.25||3.25||2.75|
|15 to 29||2.9||3||2.9||3||3||3.05||3.4||2.75||3||3.25||3.25||2.9|
|31 to 45||2.9||3||2.9||3||3||3.05||3.4||3||3||3.25||3.25||2.9|
|46 to 90||4.4||3.25||3.9||4||3.75||3.05||3.9||3.75||3.5||4||4.25||3.25|
|91 to 120||4.4||4||3.9||4.05||4.25||3.95||4.4||3.9||4||4.25||4.25||3.9|
|121 to 150||4.4||4||3.9||4.05||4.3||3.95||4.4||3.9||4||4.25||4.25||3.9|
|151 to 179||4.4||4||3.9||4.05||4.3||3.95||4.4||3.9||4||4.25||4.25||3.9|
|181 to 269||4.4||4.4||4.4||4.5||4.5||4.45||4.9||4.7||4.25||4.75||4.75||4.25|
|271 to 332||4.4||4.5||4.4||4.5||4.5||4.45||4.9||4.7||4.25||4.85||4.75||4.25|
|334 to 364||4.4||4.5||4.4||4.5||4.5||4.45||4.9||4.7||4.25||4.85||4.75||4.25|
|366 to 443||4.9||5.2||5.1||5.25||5.25||5.25||5.2||4.9||4.9||5.3||5.25||4.9|
|445 to 554||4.9||5.2||5.1||5.25||5.25||5.25||5.2||4.9||4.9||5.3||5.25||4.9|
|556 to < 2 yr||4.9||5.2||5.1||5.25||5.25||5.25||5.2||4.9||4.9||5.3||5.25||4.9|
|2 yr to < 3 yr||5.1||5.2||5.1||5.25||5.25||5.25||5.25||4.9||4.9||5.3||5.3||4.9|
|3 yr 1 D to < 5 yr||5.3||5.25||5.3||5.35||5.3||5.15||5.25||4.85||4.9||5.3||5.3||5|
|5 yr to < 10 yr||5.3||5.25||5.3||5.35||5.4||5.15||5.25||4.85||4.9||5.3||5.3||5|
FD interest rates for Senior Citizen (for less than 2 crore deposit):
|FD Duration (Days)||SBI SZ||PNB SZ||BOB SZ||Canera SZ||UBI SZ||IndB SZ||IOB SZ||UCO SZ||BOM SZ||PSB SZ||BOI SZ||CBI SZ|
|7 to 14||3.4||3.75||3.4||3||3.5||3.4||3.9||3||3||3.25||3.25||3.25|
|15 to 29||3.4||3.75||3.4||3||3.5||3.55||3.9||3||3||3.25||3.25||3.4|
|31 to 45||3.4||3.75||3.4||3||3.5||3.55||3.9||3.25||3||3.25||3.25||3.4|
|46 to 90||4.9||4||4.4||4||4.25||3.55||4.4||4||3.5||4||4.25||3.75|
|91 to 120||4.9||4.75||4.4||4.05||4.75||4.45||4.9||4.15||4.5||4.25||4.25||4.4|
|121 to 150||4.9||4.75||4.4||4.05||4.8||4.45||4.9||4.15||4.5||4.25||4.25||4.4|
|151 to 179||4.9||4.75||4.4||4.05||4.8||4.45||4.9||4.15||4.5||4.25||4.25||4.4|
|181 to 269||4.9||5.15||4.9||5||5||4.95||5.4||4.95||4.75||5.25||5.25||4.75|
|271 to 332||4.9||5.25||4.9||5||5||4.95||5.4||4.95||4.75||5.35||5.25||4.75|
|334 to 364||4.9||5.25||4.9||5||5||4.95||5.4||4.95||4.75||5.35||5.25||4.75|
|366 to 443||5.4||5.95||5.6||5.75||5.75||5.75||5.7||5.4||5.4||5.8||5.75||5.4|
|445 to 554||5.4||5.95||5.6||5.75||5.75||5.75||5.7||5.4||5.4||5.8||5.75||5.4|
|556 to < 2 yr||5.4||5.95||5.6||5.75||5.75||5.75||5.7||5.4||5.4||5.8||5.75||5.4|
|2 yr to < 3 yr||5.6||5.95||5.6||5.75||5.75||5.75||5.75||5.4||5.4||5.8||5.8||5.4|
|3 yr 1 D to 5 yr||5.8||6||5.8||5.85||5.8||5.65||5.75||5.35||5.4||5.8||5.8||5.5|
|5 yr 1 D to 10 yr||6.1||6||6.3||5.85||5.9||5.65||5.75||5.35||5.4||5.8||6.05||5.5|
The above table shows comparison of all 12 public sector banks’ FD interest rates for senior citizen like SBI Fixed deposit interest rates for senior citizen, PNB Fixed deposit interest rates for senior citizen, BOB Fixed deposit interest rates for senior citizen, Canara Bank Fixed deposit interest rates for senior citizen, Union bank of India Fixed deposit interest rates for senior citizen, Indian bank Fixed deposit interest rates for senior citizen, IOB Fixed deposit interest rates for senior citizen, UCO Fixed deposit interest rates for senior citizen, Bank of Maharashtra Fixed deposit interest rates for senior citizen, Punjab and Sind bank Fixed deposit interest rates for senior citizen, Bank of India Fixed deposit interest rates for senior citizen, Central Bank of India Fixed deposit interest rates.
Just decide your duration of deposit, like 180 days, 1 year, 3 year or 10 year and find the best Government bank, also called national bank or public sector bank to deposit the money from both the tables.
Disclaimer: Kindly consult your bank for latest and authentic rate of interest on Fixed deposit.