PLAN N PROGRESS compares Fixed Deposit Rates in India

Interest rates offered by more than 40 banks including Public sector banks , Private sector banks , Small Finance Banks are compared for the maturities of 1 year and 5 years
By: PLAN N PROGRESS
 
MYSORE, India - Jan. 17, 2022 - PRLog -- , As  some of the leading  Indian banks revised their fixed deposit  during the first  fortnight of the year 2022 , Plan N  Progress  updated  the comparison tables of interest  rates  for 1 year maturity  and 5 years maturity   for both   general public and senior citizens   .
The  public sector banks   pay  lesser interest rates than peers  in private sector and small Finance Banks ( SFB )   and SFBs pay highest interest rates  .

The  findings are as follows
FOR ONE YEAR DEPOSITS   ,  public sector banks  are offering interest rates between 4.90  % to 5.15 %  1 year deposits for public  (5.15  % 5.65 %  to Senior Citizens )   Indian Overseas Bank is paying  the highest rates  of 5.15 % to public and 5.65 %  for the senior citizens  .Private  sector banks  are offering interest rates between  4.75   % to  6.00 %   %  1 year deposits for public and between 5.25  %  to 6.00 %      for senior citizens  .   RBL Bank &  Indusind Bank   are    paying highest interest rate of  6.00   % for the public and  at  6.50 % for the senior citizens . ​
The  Small Finance banks  are paying  higher interest   rates .  Ujjivan SF Bank   pays  6.50 %  for 1 year public deposit  and  Ujjivan  SF Bank   pays  7.40 % for senior citizens ​

FOR 5 YEAR DEPOSITS ,   Public sector banks pay between 4.90  % to  5.40  %  for 5 year term deposits ( 5.10 %  to 6.20  %  for senior citizens )   .    State Bank of India & Union Bank of India  are   paying highest interest rate  of 5. 40  %  for the public and   State Bank of India  @ 6.20 %  for the senior citizens  in public sector category .
​Private  sector banks pay between  5.00 % to 6.30  %  for 5 year term deposits ( 5.50 %  to  7.00 %  for senior citizens )   .  Small finance banks pay    between  5.25  % to  6.75% for public and 5.75  % to  7.25    %  for senior  citizens  .
PLAN N PROGRESS
https://www.plannprogress.com/fd-rates-in-india.html

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Tags:Banking
Industry:Banking
Location:Mysore - Karnataka - India
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