There is a danger of recession in the world. Economic activities have slowed down in Germany and this country has declared itself to be in the grip of recession. At the same time, America, the world’s most powerful economy, is also facing problems these days.
On the other hand, the condition of China’s economy may not be so bad but the condition is not very good either. The world has high hopes from the Indian economy. But if the situation in the world worsens or becomes uncontrollable, then it is bound to affect Indians as well. In such a situation, people who want a safe return on their investment are turning to the bank. Let’s talk about the returns the three big government banks of the country are giving on deposits.
At what time, how much interest is being given in SBI Bank
Let’s talk about SBI Bank first. Interest is being given at different rates on Fixed Deposit ie Fixed Deposit in SBI Bank . Here, common citizens are being given interest at the rate of 3 percent per annum on deposits for 7-45 days, whereas for senior citizens, this interest rate is being given at the rate of 3.50 percent per annum. SBI is giving 4.50 percent rate of interest to common citizens on deposits from 46 days to 179 days. While in the same period, senior citizens are being given interest at the rate of 5 percent.
Here interest is being given at the rate of 5.35 percent to common citizens and 5.88 percent to senior citizens on the amount deposited for 180 – 210 days. On deposits ranging from 211 days to one year, interest is being given at the rate of 5.88 percent per annum to common citizens and 6.40 percent to senior citizens. Apart from this, interest is being given at the rate of 6.98 and 7.50 for common citizens and senior citizens respectively on deposits from one year to two years.
In this sequence, in the interest rate available in SBI, interest is being given at the rate of 7.19 percent and 7.71 percent on FDs of two years to three years. For deposits of three to five years, interest is being given at the rate of 6.66 percent to the common citizen and 7.19 percent to the senior citizen. On deposits from 5 years to 10 years in SBI, the common citizen is being given interest at the rate of 6.66 percent while senior citizens are being given interest at the rate of 7.71 percent per annum.
SBI has also prepared a special deposit scheme of 400 days. This scheme has been named Amrit Kalash. Under this scheme, interest is being given to the common citizen at the rate of 7.29 percent per annum on the deposited amount, while interest is being given to the senior citizens at the rate of 7.82 percent per annum.
Information on interest rates on FD in PNB Bank
Now let’s talk about PNB Bank. PNB Bank is giving interest rate according to the time of deposit to the FD depositors. According to the bank’s site, common citizens will be given interest at the rate of 3.50 percent on deposits of 7-14 days, while senior citizens will be given 4 percent interest and super senior citizens at the rate of 4.30 percent for the same period. PNB Bank offers interest at the same rate on deposits of 15-29 days and deposits of 30-45 days.
At the same time, on deposits of 46-90 days, PNB gives interest at the rate of 4.30 per cent per annum to general depositors, 5.00 per cent to senior citizens and 5.30 per cent to super senior citizens. The same rate of interest is also given on deposits of 91-179 days.
On deposits of 180-270 days, PNB is paying interest at the rate of 5.50 per cent per annum to general depositors, 6.00 per cent to senior citizens and 6.30 per cent to super senior citizens. Also, on depositing for a period of 271 days to less than one year, the bank is giving interest at the rate of 5.80 percent to the common citizen and 6.30 percent to the senior citizens and 6.60 to the super senior citizens.
PNB is paying interest at the rate of 6.80 percent per annum to ordinary citizens for depositing for one year. At the same time, interest is being given to senior citizens at the rate of 7.30 percent. Along with this, super senior citizens are being given interest at the rate of 7.60 percent for this period.
On deposits of one year to 443 days, interest is being given to PNB at the rate of 6.80, 7.30 and 7.60 percent respectively in the above categories. Interest is being given at the rate of 7.25, 7.75 and 8.05 percent respectively on deposits of 444 days. Presently this rate is the highest interest rate offered by PNB at any point of time.
Interest Rate on Fixed Deposit in Bank of Baroda
After the interest rates available in SBI and PNB, now let’s talk about the interest rates available in Bank of Baroda . Bank of Baroda had announced new interest rates on the 12th of this month for those who deposit their money here. According to this announcement, on deposits of 7-14 days, the bank is giving three per cent interest per annum to common citizens and 3.50 per cent per annum to senior citizens. Here interest is being given at this rate on FDs of 15-45 days. 4.50 percent interest is being given to common citizens and 5.00 percent to senior citizens on deposits of 46-90 days. The same interest rate has been kept on deposits of 91-181 days.
On deposits of 181-210 days, Bank of Baroda is paying interest at the rate of 5.25 percent to common citizens while it is paying interest at the rate of 5.75 percent to senior citizens. On the other hand, Bank of Baroda is paying interest at the rate of 5.75 percent on deposits of 211 to 270 days and is paying interest at the rate of 6.25 percent to senior citizens. The bank is also giving the same interest rate on deposits of less than 271 to one year respectively.
Bank of Baroda is giving returns on FDs at an interest rate of 6.75 and 7.25 on a one-year deposit. The bank is giving this interest rate on deposits of 400 days from one year. The bank is also offering the same rate of interest on deposits ranging from 400 days to two years. On deposits ranging from two years to three years, the bank is paying interest at the rate of 7.05 to common citizens and 7.55 to senior citizens. On deposits ranging from three years to five years, the bank is paying interest at the rate of 6.50 per cent to common citizens while it is paying interest at the rate of 7.15 per cent to senior citizens.
Bank of Baroda is paying interest at the rate of 6.50 per annum on deposits for five to 10 years, while giving interest at the rate of 7.50 per annum to senior citizens. Under Baroda Tricolor Plus Deposit Scheme, a special scheme of Bank of Baroda, the bank is paying interest at the rate of 7.25 percent to common citizens and 7.75 percent to senior citizens.
Now you can see which bank is paying how much interest for which period in these three banks. Also, who is paying the highest interest.
