Which Bank is the "King of Interest Rates" 2024 ? – A Comparison of SBI, PSB, BOI, BOB, and PNB
In the Indian banking sector, the interest rates on Fixed Deposits (FD) frequently change. To help you understand the differences, let's compare the FD interest rates of the leading government banks: SBI, PSB, BOI, BOB, and PNB.
 |
| Highest Raising fd rates 2024 |
1. SBI (State Bank of India) - Interest Rates
| Tenure | General Customer | Senior Citizen |
|---|
| 1 to 2 years | 6.80% | 7.30% |
| 2 to 3 years | 7.00% | 7.50% |
| 3 to 5 years | 6.75% | 7.25% |
| 5 to 10 years | 6.50% | 7.50% |
2. PNB (Punjab National Bank) - Interest Rates
| Tenure | General Customer | Senior Citizen |
|---|
| 1 to 2 years | 6.80% | 7.30% |
| 2 to 3 years | 7.00% | 7.50% |
| 3 to 5 years | 6.50% | 7.00% |
| Special Schemes | | |
| PNB 300 Days | 7.05% | 7.55% |
| PNB 400 Days | 7.25% | 7.75% |
3. BOI (Bank of India) - Interest Rates
| Tenure | General Customer | Senior Citizen |
|---|
| 1 to 2 years | 6.80% | 7.30% |
| 2 to 3 years | 6.75% | 7.25% |
| 3 to 5 years | 6.50% | 7.00% |
| Special Schemes | | |
| BOI 400 Days | 7.30% | 7.80% |
4. BOB (Bank of Baroda) - Interest Rates
| Tenure | General Customer | Senior Citizen |
|---|
| 1 to 2 years | 6.85% | 7.35% |
| 2 to 3 years | 7.15% | 7.65% |
| 3 to 5 years | 6.80% | 7.40% |
| Special Schemes | | |
| UTSAV DEPOSIT 400Days | 7.30% | 7.80% |
| | |
5. PSB (Punjab Sind Bank) - Interest Rates
| Tenure | General Customer | Senior Citizen |
|---|
| 1 to 2 years | 6.30% | 6.80% |
| 2 to 3 years | 6.30% | 6.80% |
| 3 to 5 years | 6.00% | 6.50% |
| Special Schemes | | |
| PSB 333 Days Scheme | 7.20% | 7.70% |
| PSB 444 Days Scheme | 7.30% | 7.80% |
Comparison of Interest Rates – Who is the "King of Interest Rates"?
When we look at the FD interest rates alone, BOB have slightly higher rates than other banks. However, BOB and BOI offer special deposit schemes 400 DAYS interest rates of 7.30% that provide even more attractive rates, which make them the best options for FD investments.
Summary:
- BOI and BOB stand out with higher interest rates and attractive special deposit schemes compared to other banks.
- SBI provides decent interest rates but lacks the competitive special schemes that BOI and BOB offer.
Conclusion:
For general FD investments, BOI and BOB are the best choices, especially due to their special deposit schemes offering higher interest rates.
0 Comments