In October 2024, Punjab National Bank, Punjab & Sind and Bank of Baroda have revised the interest rates on Fixed Deposits (FD). Now investors will get a chance to get more than 8% annual return.
The new rates have come into effect, which has increased the possibilities of better returns for FD investors.
If you are planning to invest in Fixed Deposit (FD), then there is good news for you. Some major banks have increased the interest rates of FD, due to which investors will now get a chance to get an annual return of more than 8%. Punjab National Bank, Punjab & Sind Bank and Bank of Baroda have revised their interest rates. If you are planning a high return FD, then you can get FD with the new rates of these banks. These new rates have become effective from October 3, 2024.
In recent times, the number of people investing in FDs has increased rapidly. The main reason for this is that there is no risk of market fluctuations when investing in FDs and a fixed return is guaranteed. Although the interest rates of FDs may be relatively low compared to other schemes, investors still prefer to invest here considering it a safe option. Let us know what changes have happened in the interest rates.
Punjab National Bank
For general citizens, Punjab National Bank is offering interest rates ranging from 3.50% to 7.25% for tenures ranging from 7 days to 10 years, while for senior citizens, the interest rate ranges from 4% to 7.75% and for super senior citizens, the interest rate ranges from 4.30% to 8.05%. Especially high interest rates of 7.25%, 7.75% and 8.05% are being offered for tenures of up to 400 days.
Punjab & Sind Bank
Punjab & Sind Bank is offering interest rates ranging from 2.80% to 7.25% to general citizens on FDs with tenures ranging from 7 days to 10 years. Also, senior citizens are getting an additional interest of 0.50% on fixed deposits of less than Rs 3 crore. Super senior citizens are also being given an additional benefit of 0.15% on FDs of certain periods (222 days, 333 days, 444 days, 666 days, 999 days).
Bank of Baroda
Bank of Baroda is also luring investors with attractive interest rates. For general citizens, rates ranging from 4.25% to 7.15% are applicable on FDs with tenures ranging from 7 days to 10 years. Senior citizens are getting interest rates ranging from 4.75% to 7.60%, while super senior citizens are also being given the benefit of additional interest rates.
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