Canara Bank has recently revised interest rates on fixed deposits across various maturities by up to 25 basis points. The revised rates are effective from March 1, 2022. Last month, the State Bank of India (SBI), HDFC Bank and Bank of Baroda (BoB) hiked interest rates on term deposits. FD interest rates of different banks vary by amount, tenure and type of depositor. So it's always important to compare the FD rates offered by various banks before investing.
Let's take a look at the latest FD interest rates offered by Canara Bank, Bank of Baroda (BoB), SBI and HDFC Bank
Canara Bank latest FD interest rates
After the latest revision, for term deposits with a maturity period of 7-45 days, Canara Bank will offer a 2.90% interest rate. For FDs with maturity period 46-90 days, 91 days to 179 days and 180 days to less than 1 Year, the bank will give 3.9, 3.95 and 4.40% interest rates respectively. FDs maturing in 1 year will give 5.1 per cent while those maturing in one-two year will offer 5.15 per cent. Fixed deposits between 2-3 years would invite an interest rate of 5.20 per cent and 3-5 years 5.45 per cent. Term deposits maturing in 5-10 years will give 5.5 per cent.
Bank of Baroda latest FD rates
Bank of Baroda (BoB) has revised interest rates on fixed deposits (FDs) with effect from 25 February. Bank of Baroda gives 2.8% interest on deposits with maturities 7 days to 45 days. For FDs maturing in 46 days to 180 days, BoB offers an interest rate of 3.7%. For 1-year term deposits, Bank of Baroda gives 5% interest. FDs with maturities above 1 year and upto 3 years will fetch an interest rate of 5.1%. Long-term FDs with 3 years and 10 years maturities will fetch an interest rate of 5.25%.
SBI latest FD interest rates
SBI FDs between 7 days to 10 years will give 2.9% to 5.5% to general customers. Senior citizens will get 50 basis points (bps) extra on these deposits -3.4 %to 6.30%. These rates are effective from 15 February 2022.
HDFC Bank latest FD rates
HDFC Bank offers interest ranging from 2.50% to 5.60% on deposits maturing between 7 days and 10 years. HDFC Bank offers interest rates from 3% to 6.35% on FDs maturing in 7 days to 10 years to senior citizens. 14 February
