The world is in danger of recession. Economic activities have slowed down in Germany and this country has declared itself to be in the grip of recession. At the same time, America, the world’s most powerful economy, is also facing difficulties these days.
On the other hand, the condition of China’s economy may not be that bad, but the condition is not very good either. The world has high expectations from the Indian economy. But if the situation in the world worsens or becomes uncontrollable, then it is bound to affect Indians as well. In such a situation, people seeking safe returns on their investments are turning to banks. Let’s talk about the returns being given on deposits by three big government banks of the country.
At what time how much interest is being received in SBI Bank
First of all let’s talk about SBI Bank. Interest is being given at different rates on Fixed Deposit ie Fixed Deposit in SBI Bank. Here common citizens are being given interest at the rate of 3 per cent per annum on deposits of 7-45 days, while for senior citizens this interest rate is being given at the rate of 3.50 per cent per annum. SBI is giving interest at the rate of 4.50 per cent to common citizens on deposits ranging from 46 days to 179 days. While in the same period, senior citizens are being given interest at the rate of 5 percent.
Here, interest is being given at the rate of 5.35 per cent to common citizens and 5.88 per cent to senior citizens on deposits for 180-210 days. On deposits ranging from 211 days to one year, interest is being given at the rate of 5.88 per cent per annum to common citizens and 6.40 per cent to senior citizens. Apart from this, interest is being given at the rate of 6.98 and 7.50 for common citizens and senior citizens respectively on deposits from one year to two years.
In the same sequence, interest is being received at the rate of 7.19 per cent and 7.71 per cent on FDs of two years to three years in SBI. On deposits of three to five years, interest is being given at the rate of 6.66 percent to the common citizen and 7.19 percent to the senior citizen. On deposits from 5 years to 10 years in SBI, interest is being given to the common citizen at the rate of 6.66 percent, while interest is being given to senior citizens at the rate of 7.71 percent per annum.
SBI has also prepared a special deposit scheme of 400 days. This scheme has been named Amrit Kalash. Under this scheme, common citizens are being given interest at the rate of 7.29 per cent per annum on deposits, while senior citizens are being given interest at the rate of 7.82 per cent per annum.
Information on interest rates on FD in PNB Bank
Now let’s talk about PNB Bank. PNB Bank is giving interest rate to FD depositors according to the time of deposit. According to the bank’s site, common citizens will be given interest at the rate of 3.50 per cent on deposits of 7-14 days, while senior citizens will be given 4 per cent and very senior citizens at the rate of 4.30 per cent for the same period. PNB Bank offers the same rate of interest for deposits of 15-29 days and deposits of 30-45 days.
At the same time, on deposits of 46-90 days, PNB gives interest at the rate of 4.30 per cent to general depositors, 5.00 per cent to senior citizens and 5.30 per cent to very senior citizens. The same rate of interest is also offered on deposits of 91-179 days. On deposits of 180-270 days, PNB is paying interest at the rate of 5.50 per cent to general depositors, 6.00 per cent to senior citizens and 6.30 per cent to very senior citizens. Along with this, the bank is giving interest at the rate of 5.80 percent to common citizens and 6.30 percent to senior citizens and 6.60 percent to very senior citizens on deposits between 271 days and less than one year.
PNB is giving interest at the rate of 6.80 per cent per annum to common citizens for depositing for one year. At the same time, interest is being given to senior citizens at the rate of 7.30 percent. Along with this, very senior citizens are being given interest at the rate of 7.60 percent for this period.
On deposits from one year to 443 days, PNB is being given interest at the rate of 6.80, 7.30 and 7.60 per cent respectively in the above categories. Interest is being received at the rate of 7.25, 7.75 and 8.05 per cent respectively on deposits of 444 days. This rate is currently the highest interest rate offered by PNB at any point of time.
Interest Rate on Fixed Deposit in Bank of Baroda
After the interest rates available in SBI and PNB, now let’s talk about the interest rates available in Bank of Baroda. Bank of Baroda had announced new interest rates for depositors here on 12th of this month. According to this announcement, the bank is giving three percent annual interest to common citizens on deposits of 7-14 days.
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