Canara Bank revises fixed deposit (FD) rates. How do they compare with PNB, ICICI, HDFC, SBI, Union Bank? | Mint

Canara Bank FD rates: Canara Bank’s fixed deposit (under ₹3 crore) rates were revised on December 1, 2024. The new bank FD rate ranges from 4% to 7.4% for the general public on different tenures. The return percentage for callable FDs can be as high as 7.9 for senior citizens.

Those looking to invest in fixed deposits must carefully compare Canara Bank revised FD rates with fixed deposit rates in Punjab National Bank, ICICI Bank, HDFC Bank, State Bank of India, Union Bank of India, etc.

Canara Bank vs PNB vs ICICI vs SBI vs HDFC vs Union Bank

All banks offer fixed deposits for different durations, so it isn’t easy to compare their FD interest rates over a fixed period. Here is a comparison of the FD interest rates of Canara Bank, PNB, ICICI, SBI, HDFC, and Union Bank of India (UBI).

Canara Bank revised FD rates

Canara Bank’s revised FD rates for amount ₹3 crore were effective from December 1, 2024. The new rates start from 4% and can be as high as 7.4% for the general public. Whereas, it can be as low as 4% and as high as 7.9% for senior citizens.

For longer tenures, Canara Bank FD rates can be approximately 6.85% on deposits maturing between one and two years and 7.3% on deposits maturing between two and three years. The highest interest rates is provided on Canara Bank FD for tenure of three years and less than five years with an interest rate of 8.14%.

PNB FD rates

Punjab National Bank FD rates start at 3.5% and can be as high as 6.5% for general public for a duration of 7 days to ten years. The FD rates can be as high as 7.3% for senior citizens for the same duration. The bank offers 7.05% returns to the general public and 7.55% for senior citizens for a duration of 300 days. It also offers lucrative interest rates for 400 days duration.

ICICI Bank FD rates

ICICI Bank FD rates range from 3 to 10% for general public for a duration of 7 days to five years. ICICI Bank offer lucrative returns of 7.80% to senior citizens on FD for duration of 15 to 18 months.

SBI Bank FD rates

The State Bank of India offers fixed deposits for a duration of 7 days to 10 years. The bank offers lucrative interest rates of 7.50 (senior citizens) on 2-3 years duration.

HDFC Bank FD rates

The HDFC Bank FD rates range from 3% to 7% for duration of 7 days to 10 years. Most lucrative FD rates are 7.85% for a duration of 2 years 11 months to 35 months.