How to find the best rates for a Fixed Deposit
Corporation Bank is one of the players in the public-sector banking space. They offer customers retail products including fixed deposits at attractive interest rates and varying tenors.
Returns on fixed deposits are subject to change according to movements in market rates and to suit a banks liquidity requirements. It can be hard to track these changes much less determine the optimum FD scheme to invest in.
The above table reflects the latest interest rates for Corporation Banks FDs so as to enable real-time comparison of maturities.
Corporation Bank Short-Term FD Rates
Holdings of 30 and 60 days are pegged at 6%. This is increased to 8% for deposit-periods between 90 days and 6 months and further increased by 0.25% for a 9-month period at 8.25%.
Corporation Bank Medium and Long-Term FD Rates
Interest rates on deposit-periods between 1 to 5 years are at 9%, except for the 3-year scheme on which a return of 9.11% is offered.
Corporation Bank Senior Citizen FD Rates
Senior citizens can avail an increment of 0.5% on existing FD rates for all schemes except on very-short term holdings i.e. 30 days and 60 days.
Returns are attractive on a short-term basis vis-a-vis other banks offering similar products.
All rates mentioned herein are on an annual basis and are compounded quarterly.
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