Not SBI, but these government banks offer the highest interest rates on FDs

Through the Amrit Kalash Scheme, the State Bank of India, the country’s biggest public sector bank, is giving its clients a competitive interest rate on savings accounts. However, a lot of banks are offering higher interest rates than SBI.

Rates on Fixed Deposits

Under the Amrit Kalash Scheme, the bank offers a 400-day fixed deposit plan with an interest rate of 7.60 percent for senior citizens and 7.10 percent for regular clients. But did you know that there are numerous other government banks that provide their clients with interest rates that are higher than SBI’s? Tell us about those banks, please. This list was created using data from Paisa Bazaar.com’s study.

For a 400-day fixed-rate deposit (FD),

the Bank of India offers interest rates of 7.25 percent to general customers and 7.75 percent to senior citizens.

For a two- to three-year fixed-rate deposit (FD),

the Bank of Baroda offers 7.25 percent interest to regular clients and 7.75 percent interest to senior citizens.

For the 444-day special FD scheme,

Punjab National Bank offers a 7.25 percent interest rate to ordinary customers and a 7.75 percent interest rate to people over 60.

With a term of 444 days,

Punjab Sindh Bank is providing senior residents with an interest rate of 7.90 percent and ordinary customers with a good interest rate of 7.40 percent.

Large public sector

bank Canara Bank is offering a 444-day fixed-rate savings plan (FD) with interest rates of 7.25 percent for general clients and 7.75 percent for elderly citizens.

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