If you want good amount of interest on your money you can go for fixed deposit. But if you want flexibility in using your money at any time you can go for savings account. Let’s have a look on some public sector banks who are offering good rate of interest on savings account.
Generally there is low rate of interest offered on savings bank account. But all your financial needs can be fulfilled with savings account only. If you have any sudden need of money you can easily withdraw money from saving account. If you will withdraw amount from your fixed deposit account you will have to bear the penalty for it. So let’s discuss top 10 public sector banks and their rate of interest on savings account.
1. IDBI Bank is offering 3 to 3.5 percent rate of interest.
2. PNB is offering 3 to 3.5 percent rate of interest.
3. Canara bank is offering 2.9 to 3.2 rate of interest.
4. Bank of Baroda is offering 2.75 to 3.2 percent rate of interest.
5. Panjab and Sind Bank is offering 3.1 percent rate of interest.
6. Indian overseas bank is offering 3.05 percent rate of interest.
7. Union Bank of India is offering 3 percent rate of interest.
8. Central bank of India is offering 2.75 and 2.9 percent rate of interest.
9. Bank of India is offering 2.9 percent rate of interest.
10. Indian bank is offering 2.9 percent rate of interest.
One Year FD-You will get rate of interest of 6.5 percent with these banks
Fixed deposit(FD) is a good option for savings for your future. However rate of interest are decreasing on FD . But there are some banks who are offering good rate of interest.some people like to invest in FD not for long term of 5 to 10 years but for a short term benefit of 1 to 2 years only. if you want to invest in FD for short term or long term gains you can get a benefit of 6.5 % per annum where lets discuss.
RBL Bank and Canara bank
RBl bank is offering rate of interest of 6.5 percent per annum on FD . this rate of interest is 7 percent in case of senior citizen. Canara bank is offering 5.20 percent rate of interest per annum on fixed deposit of amount less than 2 crores for 1 year only. And this rate of interest is 5.70 percent in case of senior citizen.
IndusInd bank
IndusInd Bank is offering 6.5 percent rate of interest annually on less than 2 crores 1 year FD for which you can do premature withdrawal also. This rate of interest is 7 percent for senier citizen for this FD. If you want to invest in above 2 crore FD but less than 5 crore 1 year FD. rate of interest will be 6.25 percent annually . The facility of premature withdrawal is also there in this case also. And if your category to invest in FD is above 1 crore but less than 5 crore 1 year FD the rate of interest will be 6.35 percent and premature withdrawal facility is applicable in this case also.
Bandhan Bank and IDFC first bank
Bandhan bank is offering 5.50 percent rate of interest on one year above 2 crore FD. The rate of interest is 5.5 percent annually in case of 1 year retail term deposit.this rate of interest is 6.50 percent for senier citizens. In IDFC First bank the annual rate of interest is 5.75 percent on less than 2 crore FD for one year and 6.25 for senier citizens.
YES bank
Yes bank is offering 6.25 percent rate of interest annually on less than 2 Crore FD for one year. And this rate of interest is 6.75 percent for senier citizens. If you want to invest in above 2 crore but less than 5 crore one year FD the rate of interest wiil be 6.10 percent annually. And this rate of interest is 6.55 percent for senier citizens.
DCB bank
DCB bank is offering 6.05 percent rate of interest annually on less than 2 crore FD for 1 year and this rate of interest is 6.55 percent in case of senier citizen. If you want to invest in above 2 crore but less than 20 crore regular fund the rate of interest is 6.25 percent annually. For non callable FD the rate of interest is 6.35 percent. And if the invest ment lies above 20 crore regular FD for one year the rate of interest is 6 percent annually. This rate of interest is 6.25 percent annually for non callable FD.
