Latest FD Interest Rates 2024: Check 5 Banks Offering High Interest Rates On 3-Year Term Deposits

The FD interest rates are determined by the FD tenure and the amount invested. Depending on the option chosen when booking the FDI, the interest is either paid out at regular intervals or at maturity. Here's a comparison of the FD interest rates offered by different private and public sector banks on  3-Year Term Deposits.

For deposits with a three-year term, SBI gives 6.75 percent interest. Senior citizens receive 7.25 percent of deposits of the same tenure. The interest is 7 percent per annum when the tenure is between 2-3 years. The new FD rates came into force on June 15, 2024.

On deposits with a three-year term, HDFC Bank pays 7% interest. On deposits with the same term, senior citizens can earn 7.5 percent interest. For a term of four years and seven months, the maximum interest rate of 7.4% annually is available. These rates came into effect on July 24, 2024.

On its fixed deposits with a three-year tenor, ICICI Bank pays depositors an interest rate of 7% annually. Senior citizens receive 7.5% of the total annually. The deposits with a duration of between 15 months and 2 years are eligible for the highest interest rate, which stands at 7.25 percent. These rates came into effect on August 10, 2024.

Depositors on a three-year FD with the Bank of Baroda can earn 7.15 percent. On these deposits, senior citizens are eligible to receive 7.65%. The new FD rates are effective July 15, 2024.

Public sector lender Union Bank of India offers fixed deposit interest rates for FDs of up to Rs 3 crore. The bank offers FD interest rates by the highest on the 333-day period. Customers get 7.4 percent interest rates. Senior citizens get an extra interest for FDs up to Rs 5 crores in all of its domestic term deposit schemes. The new FD rates are effective from 2 August 2024.