Utkarsh Small Finance Bank has changed the fixed deposit interest rates for amounts below Rs 2 crore. The new rates have come into effect from May 1, 2024. According to this, the interest rate of the bank for general citizens is between 4% to 8.50%. The bank’s interest rates for senior citizens range between 4.60% to 9.10%. The highest interest rates are available on FDs with a tenure of 2 to 3 years. This interest rate is between 8.50% to 9.10%.

RBL Bank

RBL Bank has changed the fixed deposit interest rate for amounts less than Rs 2 crore. The new rates have come into effect from May 1, 2024. RBL Bank has given 8% interest rate for FD schemes of 18 to 24 months. On FD of the same period, senior citizens get 0.50% additional interest, while citizens above 80 years of age get 0.75% additional interest, i.e. they will get interest at the rate of 8.75%.

Capital Bank Small Finance Bank

Capital Bank Small Finance Bank has changed the fixed deposit interest rate for amounts below Rs 2 crore. The new rates will be applicable from 6 May 2024. The bank is offering interest rates between 3.5% to 7.55% for general citizens. The interest rate for senior citizens ranges between 4% to 8.05%. The highest interest rate is for a tenure of 400 days.

City Union Bank

City Union Bank has changed the fixed deposit interest rate for amounts below Rs 2 crore. The new rates will be applicable from 6 May 2024. The bank is offering interest rates between 5% to 7.25% for general citizens, while for senior citizens the rate is between 5% to 7.75%. The bank is offering the highest interest rate on FD of 400 days.

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According to the official website of the bank, the new rates will be applicable from June 2, 2023. The bank now offers an interest rate of 3.50 per cent on FDs with maturity between 7 days and 30 days.

Apart from this, the bank is providing an interest rate of 4 percent for FDs maturing between 31 to 45 days. The bank offers an interest rate of 4.5 percent for FDs maturing between 46 to 60 days and 4.6 percent for FDs maturing in 61 and 90 days. IndusInd Bank offers an interest rate of 5 percent for FDs maturing between 91 to 120 days. The bank offers an interest rate of 5 percent for FDs maturing between 121 to 180 days.

1. After the revision, the bank offers an interest rate of 5.85 per cent on FDs maturing between 181 to 210 days.
2. The bank offers an interest rate of 6.10 percent for FDs maturing between 211 to 269 days.
3. IndusInd Bank offers an interest rate of 6.35 per cent for deposits maturing between 20 and 364 days.
4. The bank is now offering an interest rate of 7.75 per cent on FDs maturing between one year and two years.
5. The bank offers an interest rate of 7.50 per cent for FDs maturing in two years, three years and more than three months.
6. IndusInd Bank offers an interest rate of 7.25 percent for FDs maturing in three years and three months and less than 61 months.

Senior Citizen will get 8.25% interest

IndusInd Bank will now offer an interest rate of 7 percent for FDs maturing in more than 61 months. The bank offers an interest rate of 7.25 per cent on Indus Tax Saver Scheme (5 years). Senior citizens are eligible for an additional 0.50 percent interest rate on all FDs. The interest rate for senior citizens ranges from 4 percent to 8.25 percent.

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Bank New FD Rates 2022: After the increase in the repo rates by the Reserve Bank, the benefit for those who keep deposits in the bank increases continuously. In fact, with the increase in the repo rates, banks are also increasing the fixed deposit rates continuously and the rates on FD are becoming more beneficial.

In this episode, Kotak Mahindra Bank and Bank of India have changed their rates. The FDs of these two will now get more interest than before. If you are also planning to get FD, then you can see the option in these banks.

Kotak Mahindra Bank increased FD rates by how much

Kotak Mahindra Bank has changed the interest rates on FDs of less than 2 crores from 1st November. After the change, an interest of 6.1 percent will be available on FD for 365 days to 389 days. On the other hand, senior citizens will get an interest of 6.6 percent for this period.

From 391 days to less than 23 months, 6.25 percent interest will be available, while senior citizens will get 50 basis points more ie 6.75 percent interest on this. For tenures of more than 2 years but less than 3 years, the interest rate has gone up to 6.3 per cent. On the other hand, senior citizens will get an interest of 6.8 percent. The maximum rate of interest has been increased to 6.3 percent for common people and 6.8 percent for senior citizens.

What is the FD rates of Bank of India

Bank of India has changed the rates for FDs below Rs 2 crore from 1st November. For more than one year but less than 2 years, the interest rates have gone up to 5.75 percent. At the same time, the interest rates for more than 2 years but less than 3 years are also at 5.75 percent. Between 3 years to 5 years the rates are at 6.25 percent. And the rates for between 5 years to 8 years are at 5.75 percent.

The bank is also offering additional interest to senior citizens. Senior citizens will get an additional half percent interest annually in the rates. The condition for this is that the period of FD is more than 6 months and maximum for 10 years, while the minimum amount of FD is Rs 5000. On the other hand, if a senior citizen makes an FD for more than 3 years, then he will get 0.75 percent additional interest instead of half a percent.

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