Fixed Deposit Interest Rate: Fixed Deposit (FD) is a great investment option for investors because it has less risk. Despite this, due to limited returns, tax on interest, penalty for breaking FD and rising inflation, people’s interest in it is decreasing. To maintain investors’ interest in this, three public sector banks of the country have increased their interest rates on fixed deposits of less than Rs 3 crore in the first week of 2025. Here details related to interest rates on FD of these banks are being given effective from January 1, 2025.
Union Bank of India
From January 1, 2025, Union Bank of India has increased the interest rates on FDs of less than Rs 3 crore. Now the bank is offering 3.50 percent interest for 7-45 days and 4.50 percent interest for 6-90 days. Union Bank of India will give 4.80 percent interest on FDs maturing in 91-120 days, while 5 percent interest will be given on FDs maturing in 121-180 days.
The bank will give 6.35 percent interest on domestic term deposits maturing between 181 and 1 year, while 6.80 percent interest will be given on deposits maturing between 1 year and 398 days. For more information related to this, you can find out by visiting the bank’s website or any of your nearest branches.
Punjab National Bank
Punjab National Bank has also revised the interest rates on fixed deposits of less than Rs 3 crore. After this change, now the bank is giving 3.50 percent interest on tenure of 7-45 days and 4.50 percent interest on tenure of 46-90 days. The bank will give 5.50 percent interest on FDs maturing between 91 to 179 days, while 6.25 percent interest will be given on deposits maturing between 180 to 270 days. Whereas on deposits maturing in 271 to 299 days and 300 days, interest will be given at 6.50 and 7.05 percent respectively. For more information you can visit https://www.pnbindia.in/ or visit any of your nearest branch.
Punjab and Sindh Bank
Punjab and Sindh Bank (PSB) has changed the interest rates on FDs of less than Rs 3 crore from January 1, 2025. Under this, the bank is giving returns of up to 7.50 percent on tenure of 555 days. In addition to the fixed interest rate on deposits maturing in 180 days or more, senior citizens will get an increase of 0.50 percent interest on deposits of less than Rs 3 crore. Detailed information related to this is available on the bank’s website.
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