Top 5 Public Sector Banks Promising Good Returns On 5 Year Fixed Deposits
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Union Bank of India
With effect from 1st September 2021, Union Bank of India has revised interest rates on its fixed deposit. After the most recent revision, the bank is now offering an interest rate of 3.00% to 5.40% to the general public and 3.50% to 5.90% to senior citizens on deposits of less than Rs 2 Cr. The latest interest rates of the bank on fixed deposits are mentioned below.
| Period | Regular Interest Rate | Senior Citizen Interest Rate |
|---|---|---|
| 7 – 14 Days | 3.00% | 3.50% |
| 15 – 30 Days | 3.00% | 3.50% |
| 31 – 45 Days | 3.00% | 3.50% |
| 46 – 90 Days | 3.50% | 4.00% |
| 91 – 120 Days | 3.75% | 4.25% |
| 121 to 180 Days | 4.30% | 4.80% |
| 181 Days to less than 1 Year | 4.40% | 4.90% |
| 1 Year | 5.00% | 5.50% |
| >1 Year to 2 Years | 5.10% | 5.60% |
| >2 Year to 3 Years | 5.30% | 5.80% |
| >3 Years to 5 Years | 5.40% | 5.90% |
| >5 Years to 10 Years | 5.50% | 6.00% |
| Source: Bank Website, w.e.f. 01/09/2021 |
Punjab National Bank
Punjab National Bank has revised interest rates on single domestic / NRO / NRE Term Deposits (TD) of less than Rs 2 Cr, with effect from 01.08.2021. For both regular and senior citizens, the latest interest rates on fixed deposits of the bank are listed below.
| Period | ROI (% p.a.) | For Senior Citizen ROI (% p.a.) |
|---|---|---|
| 7 to 14 days | 2.9 | 3.4 |
| 15 to 29days | 2.9 | 3.4 |
| 30 to 45 days | 2.9 | 3.4 |
| 46 to 90 days | 3.25 | 3.75 |
| 91 to 179 days | 3.8 | 4.3 |
| 180 days to 270 Days | 4.4 | 4.9 |
| 271 days to less than 1 year | 4.4 | 4.9 |
| 1 year | 5 | 5.5 |
| above 1 year & upto 2 years | 5 | 5.5 |
| above 2 year & upto 3 years | 5.1 | 5.6 |
| above 3 year & upto 5 years | 5.25 | 5.75 |
| above 5 years & upto 10 years | 5.25 | 5.75 |
| Source: Bank Website, W.E.F. 01.08.2021 |
4 Private Sector Banks That Revised Their Interest Rates On FD In September 2021
State Bank of India
The largest public sector lender of our country State Bank of India (SBI) had revised the interest rate on its fixed deposits which are in force from 8th January 2021. Following the latest revision, SBI is now promising an interest rate of 2.90% to 5.40% to the general public and 3.40% to 6.20% to senior citizens on deposits of less than Rs 2 Cr.
| Tenors | Revised Rates For Public (in % p.a.) | Existing Rates for Senior Citizens (in % p.a.) |
|---|---|---|
| 7 days to 45 days | 2.9 | 3.4 |
| 46 days to 179 days | 3.9 | 4.4 |
| 180 days to 210 days | 4.4 | 4.9 |
| 211 days to less than 1 year | 4.4 | 4.9 |
| 1 year to less than 2 year | 5 | 5.5 |
| 2 years to less than 3 years | 5.1 | 5.6 |
| 3 years to less than 5 years | 5.3 | 5.8 |
| 5 years and up to 10 years | 5.4 | 6.2 |
| Source: Bank website, w.e.f. 08.01.2021 |
Punjab & Sind Bank
Punjab & Sind Bank has recently revised interest rates on its fixed deposit which are in force from 16th September 2021. The following are the current interest rates on domestic term deposits, NRO accounts, capital gain accounts scheme 1988, recurring deposit scheme, and PSB fixed deposit tax-saver scheme of a deposit amount of less than Rs 2 Cr.
| Maturity | ROI (% p.a.) | For Senior Citizen ROI (% p.a.) |
|---|---|---|
| 7 – 14 Days | 3 | 3.5 |
| 15 – 30 Days | 3 | 3.5 |
| 31 – 45 Days | 3 | 3.5 |
| 46 – 90 Days | 3.7 | 4.2 |
| 91 – 120 Days | 3.9 | 4.4 |
| 121-150 Days | 3.9 | 4.4 |
| 151 – 179 Days | 3.9 | 4.4 |
| 180 – 269 Days | 4.45 | 4.95 |
| 270 – 364 Days | 4.5 | 5 |
| 1 Year – 2 Years | 5.05 | 5.55 |
| Above 2 Year | 5.15 | 5.65 |
| 3 Years – 5 Years | 5.3 | 5.8 |
| > 5 Year – 10 Years | 5.3 | 5.8 |
| Source: Bank Website, w.e.f. 16/09/2021 |
Top 4 Private Sector Banks Promising Interest Up To 7% On 5 Year Fixed Deposits
Jammu & Kashmir Bank
For Domestic Term Deposits of less than Rs. 2.00 Crore, Jammu & Kashmir Bank is offering the following interest rates which are in force from October 11, 2020.
| Maturity Period | ROI (% p.a.) | For Senior Citizen ROI (% p.a.) |
|---|---|---|
| 7 days to 30 days | 3.00% | 3.50% |
| 31 days to 45 days | 3.10% | 3.60% |
| 46 days to 90 days | 3.25% | 3.75% |
| 91 days to 180 days | 4.00% | 4.50% |
| 181 days to 270 days | 4.40% | 4.80% |
| 271 days to less than 1 Year | 4.50% | 5.00% |
| 1 year to less than 2 years | 5.10% | 5.60% |
| 2 years to less than 3 years | 5.20% | 5.70% |
| 3 years to less than 5 years | 5.30% | 5.80% |
| 5 years to less than 10 years | 5.30% | 5.80% |
| Source: Bank website, w.e.f October 11, 2020 |
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