Best FD Rates: Fixed Deposit (FD) is seen as a better option for fixed income with the lowest risk. In such a situation, senior citizens prefer the option of FD for investment.
The good thing is that to control the rising inflation, the Reserve Bank of India (RBI) is also continuously increasing the interest rates. Due to this, banks are not only making loans costlier, but also increasing the interest rates on deposits. Now if we look at the list of public sector banks giving the highest interest for a period of 5 years, then there are many banks which are offering annual returns of up to 7.00%.
Bank of Baroda FD Rates
Bank of Baroda (Bank of Baroda FD Rate): For senior citizens, the government bank is offering an interest of 6.90% per annum for a period of 5 years. While giving interest of 7.25% for 3 years. Also, 7.25% interest is available for a period of 1 year.
Bank of India FD Rates
Bank of India (Bank of India FD Rate): The government bank is offering 6.75% interest per annum on FD of 5 years duration to its senior citizens. While offering 7.25% interest on 3 years and 6.50% interest on 1 year.
Bank of Maharashtra FD Rates
Bank of Maharashtra (Bank of Maharashtra FD Rate): This bank is giving 6.25% interest to senior citizens on FDs for a period of 5 years. Apart from this, it is offering 6.50% interest for a period of 3 years and 6.65% for 1 year.
Canara Bank FD Rates
Canara Bank FD Rate: The bank is offering 7.00% p.a. interest on FDs for a period of 5 and 3 years to its senior customers. Apart from this, 7.25% interest is being offered for a period of one year.
Indian Bank FD Rates
Indian Bank (Indian Bank FD Rate): This government bank is offering 7.00% interest on FD for a period of 5 years. While paying 6.75% interest annually on FD for 3 years. Apart from this, 6.60% interest is available for a period of 1 year.
