The government has hiked the interest rates of a few small savings schemes for the fourth quarter of fiscal year 2023-24, which will be effective from January 1, 2024 to March 31, 2024.
The government has hiked on the interest rate of 3-year time deposits by 10 basis points (bps) from 7% to 7.10%. Now let us compare interest rates of the 3-year POTD with private banks (HDFC Bank, ICICI Bank, Axis Bank) PSU (SBI, Canara Bank, PNB) banks and Small Finance Banks ( AU SFB, Ujjivan SFB, Equitas SFB).
Latest PNB FD rates: Punjab National Bank hikes fixed deposit interest rate by 45 bps on this tenure
SBI FD interest rates
State Bank of India revised FD interest rates on tenures below 1 year. The new rates are effective from December 27, 2023. After revision, the bank offers interest rates between 3.50% to 7.10% including Amrit Kalash to general public. The bank offers 7% interest rate on 3 year FD tenure.
Canara Bank FD interest rates
The bank offers interest rates between 4% to 7.25% to general public for tenure ranging from 7 days to 10 years. The bank offers 6.85% interest rate on 3 year FD tenure.Punjab National Bank FD interest rates
PNB offers interest rates between 3.50% to 7.25% to general public for tenure ranging from7 days to 10 years. The bank offers 7% interest rate on 3 year FD tenure.
HDFC Bank FD interest rates
HDFC Bank offers interest rates between 3% to 7.20% to general public for tenure ranging from7 days to 10 years. The bank offers 7% interest rate on 3 year FD tenure.
ICICI Bank FD interest rates
ICICI Bank offers interest rates between 3% to 7.10% to general public for tenure ranging from7 days to 10 years. The bank offers 7% interest rate on 3 year FD tenure.
Axis Bank FD interest rates
Axis Bank offers interest rates between 3% to 7.10% to general public for tenure ranging from7 days to 10 years. The bank offers 7.10% interest rate on 3 year FD tenure.
AU Small Finance Bank
AU SFB offers interest rates between 3.75% to 8% to general public for tenure ranging from 7 days to 10 years. The bank offers 8% interest rate on 3 year FD tenure.
Equitas Small Finance Bank
Equitas SFB offers interest rates between 3.50% to 8.50% to general public for tenure ranging from 7 days to 10 years. The bank offers 8% interest rate on 3 year FD tenure.
Ujjivan Small Finance Bank
Ujjivan SFB offers interest rates between 3.75% to 8.25% to general public for tenure ranging from 7 days to 10 years. The bank offers 7.75% interest rate on 3 year FD tenure.
