Bank of Baroda vs SBI vs Canara Bank: Fixed Deposit Interest Rates

Bank of Baroda is paying senior citizens an additional 0.5% than the normal rates if they are making a fixed deposit investment of less than Rs 2 crore with the bank. In addition to this, senior citizens who are making a FD between 5 to 10 years will be eligible to get 1% additional interest over the normal rates.

Highlights

  • A lot of banks recently increased the interest rates for fixed deposits for their customers.
  • Bank of Baroda is paying senior citizens an additional 0.5% than the normal rates if they are making a fixed deposit investment of less than Rs 2 crore with the bank.
  • Canara Bank is amongst the banks to increase the interest rates of FD.

Bank of Baroda

A lot of banks recently increased the interest rates for fixed deposits for their customers. Fixed deposits (FDs) are very good investments for people who are looking to deposit their money into a safe avenue for the long term and not worry about market fluctuations. In good news for such investors, these banks have started giving more interest to customers opening FDs for longer periods. Let’s see what Bank of Baroda, State Bank of India (SBI), and Canara Bank are offering to their customers here. Note that these interest rates only apply to customers who have made fixed deposits of Rs 2 crore and less.

Bank of Baroda Fixed Deposit Interest Rate

Bank of Baroda is paying senior citizens an additional 0.5% than the normal rates if they are making a fixed deposit investment of less than Rs 2 crore with the bank. In addition to this, senior citizens who are making an FD between 5 to 10 years will be eligible to get 1% additional interest over the normal rates. Check the table below to check the latest rates.

Bank of Baroda

Bank of Baroda

SBI Fixed Deposit Interest Rate

SBI is also revising the interest rate for FDs for its customers. Even SBI will offer higher interest rates to customers who fall in the senior citizen category. Check the table below to understand the rates.

SBI

Canara Bank Fixed Deposit Interest Rate

Canara Bank is amongst the banks to increase the interest rates of FD. The new interest rate has already come into effect for customers starting March 1, 2022. Check the table below for checking the latest interest rates.

Canara Bank

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Tanay is someone who enjoys reading and predicting the markets and what the outcome is going to be like. Following the crypto space, while being a value investor since 2018, Tanay looks to expand the horizon of his knowledge regarding investing and managing money every day.

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