Country's Top 3 PSU Banks Offering High Interest, Special Offer For Senior Citizens

Country's leading public and private sector banks have been hiking interest rates on fixed deposits. India's leading PSU banks are now offering interest rates of 7% or above on various tenors. Canara Bank, Punjab National Bank, and Bank of Baroda have hiked interest rates on the fixed deposits under various tenors after Reserve Bank of India increased the repo rate in December 2022. RBI hiked the repo rate by 35 bps to 6.25% in December 2022. Check details below:

1. Canara Bank FD Interest Rates

The bank is offering minimum interest rate of 3.5% on 7 to 45 days tenor to maximum 7% interest rate on its FDs. It is offering an interest rate of 4.50% to general citizens and senior citizens for the tenor of 46 days to 90 days and 91 days to 179 days.

The bank is giving 5.50% interest rate on FDs for the tenor of 180 days to 269 days and 270 days to less than 1 year to general citizens and 6.00% to senior citizens. The bank is offering the highest interest rate of 7.00% to general citizens for the tenor of 666 days meanwhile senior citizens get 7.50% interest rate to senior citizens for this tenor for domestic term deposits of less than 2 years.

2. Punjab National Bank FD Interest Rates

The bank revised interest rate on its domestic term deposits below Rs 2 crore effective from January 1, 2023. The bank is offering minimum interest rate at 3.50% to general citizens, 4.00% to senior citizens, and 4.30% to super senior citizens.

The maximum interest rates of the bank for general citizens are 6.75% for 1 year tenor, 7.25% for senior citizens for 1 year, and 7.55% for super senior citizens for 1 year. The similar interest rates are offered for the tenor of above 1 year to 665 days, 667 days to 2 years, and above 2 years and up to 3 years.

3. Bank of Baroda FD Interest Rates

The state-owned bank is offering minimum interest rate of 3.00% for residents/general residents and 3.50% for resident Indian senior citizens for domestic fixed deposits including NRO deposits below Rs 2 crores. The maximum interest rate is 6.75 for general citizens and 7.25% for senior citizens for 1-year tenor.

Meanwhile, general citizens can fetch an interest rate of 7.05% for 399 days and senior citizens can get 7.55% interest rate for the same tenor under Baroda Tiranga Plus Deposit Scheme.