Daijiworld Media Network - New Delhi

New Delhi, Jun 22: If you're a conservative investor looking to make the most of your fixed deposit (FD) investments, now might be the right time. Several public sector banks have recently updated their FD interest rates following a repo rate cut by the Reserve Bank of India (RBI), offering attractive returns across various tenures.

Bank of Maharashtra currently leads the pack, offering the highest FD rate among government banks at 7.15% for a 366-day deposit. Other tenures include 6.25% for one year, 6.30% for three years, and 6.25% for five years.

Indian Overseas Bank follows closely, with a 7.10% rate on 444-day deposits. It offers 6.70% for one year, and 6.30% each for three- and five-year tenures.

Punjab and Sind Bank offers 7.05% on 444-day FDs, while other rates include 6.10% for one year, 6% for three years, and a slightly higher 6.35% for five years.

Bank of India is drawing attention with a special 999-day Green FD offering 7% interest. Standard rates include 6.50% for one year, 6.25% for two years, and 6% for five years.

Central Bank of India matches the 7% mark for deposits between two and three years, and also for specially structured FDs of 1111, 2222, and 3333 days. Its standard rates include 6.70% for one year, 6.75% for three years, and 6.50% for five years.

Fixed deposits remain a popular choice for risk-averse investors, offering guaranteed returns and capital protection. With banks adjusting their interest offerings in response to RBI policy moves, this window presents an excellent opportunity to lock in higher returns for medium to long-term savings.