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Many banks have changed the interest rates of bulk fixed deposits (FD Rates). In this list, along with public sector’s Canara Bank and Bank of Baroda, private sector’s Bank is also included. The new rates have also come into effect. FDs above Rs 3 crore are considered bulk deposits. Many banks also provide the facility of withdrawal before maturity. The interest rate depends on the FD amount and tenure.

All banks keep changing the interest rates on fixed deposits from time to time. Therefore, customers are advised to know the interest rates by visiting the official website of the bank or the nearest branch before investing. Bank of Baroda and Bank have implemented new interest rates for FD from May 12. Canara Bank had made the new interest rates effective on May 5 itself.

Bank of Baroda

After the change, Bank of Baroda is offering interest ranging from 3.50% to 6.10% on FDs ranging from Rs 3 crore to Rs 5 crore. Customers can invest in this for 7 days to 10 years. On investment from Rs 5 crore to Rs 10 crore, the bank is giving minimum 3.50% and maximum 6.10% interest.

Check interest rates here

Bank

Bank has also implemented new interest rates on Tuesday for fixed deposits of more than Rs 3 crore. The bank is offering interest ranging from 3% to 7% on investments ranging from Rs 3 crore to Rs 25 crore. The highest returns are available on tenures of 12 months and 12 months, 1 day to less than 3 months. On investment of Rs 25 crore to Rs 50 crore and above, 7.50% interest is being given.

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Canara Bank

Canara Bank is offering interest ranging from 3% to 6.20% on investments ranging from Rs 3 crore to Rs 10 crore. On investments ranging from Rs 10 crore to Rs 25 crore, interest off is being given ranging from 3.50% to 7%. The maximum interest rate for FD ranging from Rs 25 crore to more than Rs 100 crore is only 7%.

The highest return is available on tenure of 1 year. The bank is offering 4.95% interest on Bulk Green Deposit Scheme if you choose the callable deposit option. Three tenure options are available in this – 1111 days, 2222 days and 3333 days. Whereas if a person chooses the option of non-callable deposit, then the bank is offering him 5% interest.

Check interest rates here

(Disclaimer: This article is based on various media. Its purpose is to share general information only. Read does not advise investment in FD, share market, any scheme etc.)