Better than SBI, PNB, BoB! This Government Bank offers up to 8.85% Fixed Deposit interest rate

Several Government banks are now offering inflation-beating real interest rates on fixed deposits. Among these, Punjab & Sind Bank (PSB) is offering the highest Fixed Deposit interest rate of up to 8.85%. According to information on the PSB’s official website, a super senior citizen can get up to 8.85% interest rate under PSB-Utkarsh 222 Days Fixed Deposit Scheme. Senior citizens and general depositors can get 8.5% and 8% interest rates respectively on deposits of 222 days

The PSB is offering several curated fixed deposit products with high-interest rates.  

PSB-Fabulous 300 Days Fixed Deposit Scheme

The bank is offering 8.35% interest to super senior citizens and 8% interest to senior citizens. Other depositors can get 7.5% interest rate.

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PSB-Fabulous Plus 601 Days Fixed Deposit Scheme

The bank is offering 7.85% interest to super senior citizens and 7.5% interest to senior citizens under PSB-Fabulous Plus 601 Days Fixed Deposit Scheme. Other depositors can get 7% interest rate.

Also Read: SBI vs HDFC Bank vs ICICI Fixed Deposit: Where Senior Citizens can double their money fast

PSB e-Advantage 601 Days Fixed Deposit Scheme (online mode only)

The bank is offering 7.85% interest to super senior citizens and 7.5% interest to senior citizens under PSB e-Advantage 601 Days Fixed Deposit Scheme. Other depositors can get 7% interest rate.

PSB SRSD-1051 Days Fixed Deposit

The bank is offering 7.85% interest to super senior citizens and 7.5% interest to senior citizens under PSB SRSD-1051 Days Fixed Deposit scheme. Other depositors can get 7% interest rate.

Compared to PSB, the highest interest rate on term deposits offered by the State Bank of India is 7.6% under the Amrit Kalash Deposit scheme and 7.9% under SBI Sarvottam (non-callable) deposits of over Rs 15 lakh.

The highest rate offered by Punjab National Bank to super senior citizens is 8.05% on deposits of 666 days while senior citizens can get 7.75% interest. Bank of Baroda is offering 7.55% interest to senior citizens under the 399 Days Baroda Tiranga Plus Deposit Scheme.