Gramin Bank Fixed Deposit Interest Rates (as on Jun 2022)

Gramin Banks (Regional Rural Banks (RRBs)) which are Indian scheduled banks operate in different States of the country at regional level. They provide basic banking and financial products and services primarily in the rural areas. The area of operation of RRBs is restricted to the area as notified by Government covering one or more districts in the State. Gramin Banks offer you Fixed Deposits for period ranging from 7 days to 10 years at attractive rate of interests. Gramin Banks also offer Recurring Deposit Account.

If you are planning to deposit amount in a fixed deposit scheme in a gramin bank operating in your area, you need to look at two major parameters: interest rate and tenure. Other factors are convenience and penalty on premature withdrawal.

Table appearing below will help you in viewing interest rates offered by different Gramin Banks for a period of 1 year. If you want to get FD interest rates of all the tenures offered by a particular bank, you need to click on "FD Interest Rates" button against that bank. You can also use FD Interest Calculator to get to know your FD's maturity value and interest earned.

Gramin Banks Fixed Deposit Interest Rate Jun 2022

Bank Name5 Years (p.a.)Calculate
Prathama Bank6.90%
Manipur Rural Bank6.00%
Vananchal Gramin Bank6.00%
Jharkhand Gramin Bank6.00%
Chaitanya Godavari Grameena Bank5.85%
Uttar Banga Kshetriya Gramin Bank5.75%
Telangana Grameena Bank5.75%
Saptagiri Grameena Bank5.75%
Bangiya Gramin Vikash Bank5.75%
Paschim Banga Gramin Bank5.75%
Andhra Pradesh Grameena Vikas Bank5.75%
Madhyanchal Gramin Bank5.70%
Andhra Pragathi Grameena Bank5.70%
Pandyan Grama Bank5.65%
Pallavan Grama Bank5.65%
Kaveri Grameena Bank5.60%
Pragathi Krishna Gramin Bank5.60%
Malwa Gramin Bank5.50%
Langpi Dehangi Rural Bank5.50%
Karnataka Vikas Grameena Bank5.50%
Sutlej Kshetriya Gramin Bank5.50%
Rajasthan Marudhara Gramin Bank5.50%
Punjab Gramin Bank5.50%
Puduvai Bharathiar Grama Bank5.50%
Assam Gramin Vikash Bank5.50%
Mizoram Rural Bank5.50%
Arunachal Pradesh Rural Bank5.45%
Uttarakhand Gramin Bank5.40%
Utkal Grameen Bank5.40%
Gramin Bank Of Aryavart5.40%

Why is FD Better than any Other Investment?

Safety of Principal

There is no erosion in principal in case of FDs while many other kinds of investment do not guarantee intactness of principal deposited.

Assured Returns

Interest rate is fixed while opening the FD account. This interest remains fixed for entire tenure of FD and will not vary at all. It also does not depend upon market fluctuations.

Loan against FD

In case of need of money, you can get loan against your FD at lower interest rate being it a secured loan. It will be available instantly and also with least documentation.

Easy to Open

It is very convenient to open FD. You will get different choice as far as period of FD is concerned. The FD tenure ranges from 7 days to 10 years.

No Lock-in Period

There is no lock-in period under FD investment. If you come across any emergency and need the funds deposited in FD urgently, you are allowed to close it before its maturity but you need to pay some penalty which may be somewhere around 0.50% to 1%.

Auto Renewal Option

There is availability of auto renewal option. Auto renewal of FD option is provided by the banks in which your FD will automatically get renewed at the interest rate prevailing at the time of maturity for the same tenure for which it was originally booked. In this case, you are not required to keep track of FD's maturity date and there is no loss of interest as well, if you forget withdrawing the amount on its maturity.

Source of Fixed Regular Income

You can opt for interest payout option from your FD and can get a regular fixed income. You may choose monthly or quarterly option according to your needs.

Tax Free Interest upto a Certain Amount

The interest earned is tax free upto Rs 10,000 per financial year for the FD holders.

One of the popular instruments to invest your savings is Bank Fixed Deposit. Bank deposit is considered a safe avenue which provides much better returns than a savings account. Apart from that, it is very easy to open the FD account with any bank. In a Fixed Deposit Account, you need to deposit a lump sum amount for a fixed period at prevailing rate of interest. When the FD tenure ends, you will receive the amount you have invested along with the compound interest thereon. Fixed Deposits are also known as term deposits.

Nomination facility is also available in the bank fixed deposit account.

There is also a facility that you can take a loan against your Fixed Deposits when you need funds. Fixed Deposit is considered as a safe and risk-averse investment.