PLAN N PROGRESS compares Fixed Deposit Rates in India

MYSORE, India - Jan. 17, 2022 : 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 ​
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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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This release was published on openPR.