Latest PSU bank fixed deposit interest rates

In a fixed deposit, the sum you invest is compounded with interest over the predetermined time frame. Your fixed deposits will earn interest from the bank at a set rate known as the fixed deposit interest rate. The bank will pay interest on any booked fixed deposits for a specific time frame.

The fixed deposit's interest rate differs from bank to bank. Additionally, the interest rate can vary depending on the deposit and tenure. Therefore, before investing in them, you should first compare the list of bank FD Interest Rates. The following is a list of the top PSU bank FD interest rates as on June 7, 2023.

Latest PSU bank fixed deposit interest rates

PSU Bank	General citizen Interest Rate	Senior citizen Interest Rate
SBI	3% to 7.10%	3.50% to 7.60%
PNB	3.50% to 7.25%	4% to 7.75%
Canara Bank	4% to 7.25%	4% to 7.75%
Bank of Baroda	3% to 7.25%	3.5% to 7.75%
Union Bank of India	3% to 7%	3.50% to 7.50%
Bank of India	3% to 7%	3% to 7.50%
Indian Bank	2.80% to7.25%	3.30% to 7.75%
Punjab & Sindh Bank	2.80% to 7.10%	3.30% to 7.60%
Central Bank of India	3.50% to 6.75%	4% to 7.25%

The above interest rates are including special deposit and tenure differs with bank. The above list does not include super senior citizen FD rates.


Senior citizens have the opportunity to earn an interest rate that is greater than that of regular citizens. Additional interest rate on their fixed deposit differ and ranges from 0.25 percent to 1 percent. The length of a FD is one of the most significant criteria used to determine the interest rate among others.

What is the exemption limit for TDS deduction on FD?
According to the Bank of Baroda webiste, "The exemption limit for TDS deduction on FD is as per income tax guidelines. However as per the current guidelines, the exemption limit for TDS deduction on FD for individuals except senior citizens is Rs. 40,000, and for senior citizens, the exemption limit is Rs. 50,000. Also, individuals with a total taxable income are eligible for exemption from paying TDS on their FDs."