Fixed deposit investors are closely monitoring their options after the Reserve Bank of India (RBI) decided to keep the repo rate unchanged at 5.5% during its latest Monetary Policy Committee (MPC) meeting on June 5, 2026. With the central bank maintaining its stable stance, several commercial and small finance banks have quickly revised their fixed deposit (FD) interest rates to attract retail capital.

For savers looking to lock in high returns, select tenures now yield up to 8.05% for senior citizens. Punjab National Bank (PNB), Ujjivan Small Finance Bank, Union Bank of India, and DCB Bank are among the key lenders driving these fresh June updates.

At a Glance: Peak FD Rates and Tenures

If you want to secure the maximum possible yield on domestic retail deposits (under ₹3 crore), focus your investments on these specific maturities:

In-Depth Bank Review & Rate Cards

1. Ujjivan Small Finance Bank

Effective June 5, 2026, Ujjivan Small Finance Bank offers competitive yields reaching up to 7.55% for regular depositors and crossing the 8% threshold for senior citizens.

• Maximum Yield Bracket: General citizens earn 7.55% and senior citizens earn 8.05% on maturities spanning 3 Years 1 Day to 3 Years 6 Months.

• Short-to-Medium Horizon: Investors looking for a shorter commitment can lock in 7.25% for tenures between 1 year and less than 2 years.

2. DCB Bank

DCB Bank’s revised interest rates went into effect on June 1, 2026. The lender features a unique “Senior Citizens Plus” bracket for individuals aged 70 and above, matching the market’s peak return of 8.05%.

• The Triple Milestone Sweet Spots: Peak rates apply to three distinct buckets: 24 to less than 25 months, 34 to less than 35 months, and 60 to 61 months.

3. Union Bank of India

Public sector lender Union Bank of India altered its interest schedule effective June 1, 2026.

• Maturity Sweet Spot: Rather than offering broad tenure ranges, Union Bank peaks at a high-yield configuration exactly at the 555 Days mark, giving standard depositors a solid 6.65% and senior citizens 7.15%.

4. Punjab National Bank (PNB)

Punjab National Bank rolled out its updated domestic retail deposit rates on June 1, 2026. PNB splits its age-based incentives into three categories: standard public, senior citizens (ages 60 to 79), and super senior citizens (ages 80 and up).

• Special Tenure: The highest return across all three categories lands squarely on the 444-day fixed deposit. Super senior citizens can hit a maximum yield of 7.40% here.

Key Summary for Investors: While major public sector banks like PNB and Union Bank offer stability and strong mid-term options hovering between 6.60% and 7.15%, small finance private structures (like Ujjivan and DCB) are actively using this post-MPC window to offer premium milestones at 8.00% and 8.05%. Savers should map out their near-term liquidity requirements against these specific milestone days to secure optimal compound interest growth.

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The post FD Interest Rates Up to 8.05%: 4 Banks Revise Rates in June 2026 first appeared on Rightsofemployees.com.

When it comes to safe investments, most people prefer to invest their money in bank FDs. This is because of the security of their funds and the fixed returns they offer. Different banks across the country offer different interest rates on their FDs. Therefore, investors should invest in FDs with banks that offer higher interest rates.

SBI’s 1-Year FD

SBI, the country’s largest public sector bank, offers its customers a 6.25 percent interest rate on its 1-year FD. If you invest ₹5 lakh in this FD, you will receive a total of ₹531,990 upon maturity.

In addition to SBI, HDFC Bank, Canara Bank, ICICI Bank, and Axis Bank also offer their customers a 6.25 percent interest rate on their 1-year FDs.

BOB’s 1-Year FD

BOB, the country’s leading public sector bank, offers its customers a 6.10 percent interest rate on its 1-year FD. Therefore, if you invest ₹5 lakh in this FD, you will receive a total of ₹531,205 upon maturity.

IndusInd Bank’s 1-Year FD

IndusInd Bank offers its customers an interest rate of 6.75% on its 1-year FD. So, if you invest Rs 5 lakh in this FD, you will receive a total of Rs 5,34,614 upon maturity.

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FD Interest Rates: To save your earnings, there are many investment options available in the market, including stock options for quick short-term profits. For long-term investments, you can invest in bank fixed deposits (FDs). If you’re investing for at least five years, both can be a good option. If you want to earn money through fixed deposits, be sure to calculate the interest rates offered by banks before investing.

FDs offer fixed interest rates and ensure your money is safe. Long-term FDs generally have higher interest rates. Senior citizens also receive higher interest rates than ordinary citizens. Several banks in the country offer interest rates as high as 7%. These include both private and public sector banks. Here’s a list of popular banks in the country, highlighting which banks offer the highest interest rates on one-year FDs.

1. HDFC Bank
HDFC Bank, one of the country’s largest private banks, offers excellent returns on FDs. One-year FDs offer 6.25% interest, while senior citizens are offered 6.75%.

2. ICICI Bank
One-year FDs at ICICI Bank offer 6.25% annual interest, while senior citizens are offered 6.75%. Three-year FDs offer 6.45% to 6.60% interest, and five-year FDs offer 6.40% to 6.60% interest.

3. Kotak Mahindra Bank
This private bank also offers 6.25% interest on one-year FDs for ordinary citizens. It offers 6.75% for senior citizens. Furthermore, it offers the highest returns for FDs with maturities ranging from 391 days to 23 months.

4. Federal Bank
Federal Bank offers 6.25% interest on one-year FDs for general citizens and 6.75% for senior citizens. The highest returns are available for 999-day deposits, with an interest rate of 6.70%.

5. State Bank of India
Investors at State Bank of India, the country’s largest public sector bank, are earning 6.25% and 6.45% annual interest on one-year and two-year FDs. However, the highest returns are available for 2- to 3-year deposits, with an interest rate of 6.45%.

6. Union Bank
This public sector bank offers 6.40% interest on one-year fixed deposits for ordinary citizens. Senior citizens are offered 6.90% interest. The highest return is on 3-year fixed deposits, offering 6.6% interest. Senior citizens are offered 7.1% interest.

7. Canara Bank
This public sector bank offers 6.25% interest on one-year fixed deposits for general citizens and 6.75% for senior citizens. The highest returns are available on FDs with a duration of 444 days. The interest rate for general citizens during this period is 6.50%, while for senior citizens it is 7%.

8. Punjab National Bank
This public sector bank offers 6.25% interest on general citizens and 6.75% for senior citizens. The highest returns are available on FDs with a duration of 390 days. The interest rate during this period is 6.1%, while for senior citizens it is 7.1%.

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FD interest rates: If you’re looking for a safe investment amid the constant fluctuations in the stock market and gold and silver prices, a fixed deposit (FD) is a good option. It offers fixed interest (high FD interest rates) and your money remains safe. Long-term FDs generally offer higher interest rates. Senior citizens also receive higher interest rates than regular citizens.

There are several banks in the country that offer 7% higher interest rates. These include both private and public sector banks. Understanding bank interest rates in simple calculations, if you open an FD of ₹1 lakh (1 lakh FD return calculation), your money will double after 10 years. Now the question is, which banks are offering interest rates of more than 7% (top banks fixed deposit)? Let’s find out.

Private Bank FD Rates

1. HDFC Bank

Term: 18–21 months
Interest Rate: 6.60% (General), 7.10% (Senior Citizen)

Return on ₹1 lakh after 10 years:

General: ₹1,90,000
Senior: ₹2,00,000

2. ICICI Bank

Term: 2–10 years
Interest Rate: 6.60% / 7.10%

Return on ₹1 lakh:
General: ₹1,90,000
Senior: ₹2,00,000

3. Kotak Mahindra Bank

Term: 23 months
Interest Rate: 6.60% / 7.10%

Return on ₹1 lakh:

General: ₹1,90,000
Senior: ₹2,00,000

4. Federal Bank

Term: 999 days
Interest rate: 6.70% / 7.20%

Return on ₹1 lakh:

General: ₹1,93,000
Senior: ₹2,03,000

Public Bank FD Rates

1. State Bank of India (SBI)

Term: 2–3 years
Interest rate: 6.45% / 6.95%

Return on ₹1 lakh:
General: ₹1,86,000
Senior: ₹1,97,000

2. Union Bank of India

Term: 3 years

Interest rate: 6.10% / 6.60%

Return on ₹1 lakh:

General: ₹1,81,000
Senior: ₹1,90,000

3. Punjab National Bank (PNB)

Term: 390 days
Interest rate: 7.10%
Return on ₹1 lakh: ₹2,00,000

4. Canara Bank

Term: 444 days
Interest rate: 6.50% / 7.00%

Return on ₹1 lakh:

General: ₹1,87,000
Senior: ₹1,97,000

It’s important to note that interest rates change periodically on banks’ websites. Be sure to compare before investing to maximize your returns.

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FD Interest Rates: Fixed deposits (FDs) have always been considered a safe and guaranteed option for investors. They are preferred because they offer both good short-term interest rates and the ability to withdraw funds when needed. Investing in fixed deposits is also considered a better option. The biggest advantage is that it provides both security and fixed returns. There is no risk of any kind. Different banks offer different interest rates on fixed deposits. Before making a fixed deposit, be sure to compare the interest rates offered by different banks.

Banks generally offer higher interest rates on long-term deposits. A three-year fixed deposit (FD) is likely to yield higher interest than a one-year fixed deposit. We are telling you how much interest the country’s major banks are offering on long-term fixed deposits.

HDFC Bank

HDFC Bank offers 6.45% interest on three-year deposits, 6.25% on one-year deposits, and 6.45% on two-year deposits. These rates are effective from June 25, 2025. Senior citizens receive an additional 50 basis points discount.

ICICI Bank

ICICI Bank offers a three-year FD at 6.6% per annum. Senior citizens receive 7.1% interest. One-year fixed deposits offer 6.40% interest. An investment of ₹1 lakh here will yield ₹1.06 lakh upon maturity.

Kotak Mahindra Bank

Kotak Mahindra Bank offers 6.4% interest on three-year fixed deposits for general public and 6.90% for senior citizens. One-year FDs offer 6.25% interest, and two-year FDs offer 6.4% interest. These rates came into effect on August 20th.

State Bank of India (SBI)

The country’s largest public sector bank, State Bank of India (SBI), offers 6.3% interest on three-year FDs, and 6.8% for senior citizens. These rates are effective from July 15, 2025. Investors can earn 6.25% and 6.45% annual interest on one-year and two-year FDs, respectively.

Bank of Baroda

Bank of Baroda offers 6.50% interest on three-year FDs, and 7% for senior citizens. However, for general citizens, 6.25% and 6.5% interest are available on one-year and two-year deposits. These new rates came into effect on September 12th.

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1. EPFO ​​3.0 will be launched – PF withdrawal will be easier

EPFO is launching a new version EPFO ​​3.0 from June 1. With this, PF withdrawal, KYC update and claim process will be faster and easier than before. The special thing is that EPF related cards can also be used like ATM cards.

2. Change in FD interest rates is possible

Banks may change the interest rates of fixed deposits and loans in June. The Reserve Bank’s possible repo rate cut may reduce FD rates. For example, Suryoday Small Finance Bank has reduced the interest on 5-year FD from 8.6% to 8%.

3. Changes in credit card rewards and charges

There will be changes in the credit card rules of Kotak Mahindra Bank and other banks from June 1. Reward point limits can be fixed, penalty for auto-debit failure can be reduced and extra charges can be levied on fuel/utility payments.

4. LPG cylinder prices will change

The prices of LPG cylinders are reviewed on the first of every month. On June 1, the prices of domestic and commercial gas may increase or decrease, which will directly affect your kitchen budget.

5.ATM transaction charges may increase

From June, the charges levied after the limit of free transactions from ATMs may increase. People who withdraw cash frequently will feel the impact of this change on their pockets.

6. New cut-off time in mutual funds

SEBI has implemented a new cut-off time for overnight mutual fund schemes. From June 1, the time will be 3 PM for offline transactions and 7 PM for online. Orders placed after this will be considered on the next working day.

7. Deadline for getting Aadhaar updated for free

The free update facility of Aadhaar card is available only till 14 June 2025. After this, a fee of ₹25 will be charged for online update and ₹50 at the center. Therefore, get your identity and address proof updated immediately.

8. Now the name of the real receiver will be visible in UPI transactions

NPCI has implemented a new rule under which while making UPI payment, the user will only see the banking name of the ‘Ultimate Beneficiary’ i.e. the real receiver. QR code or edited names will no longer be visible. All UPI apps will have to implement these rules by June 30.

Banks will remain closed for 12 days in June

According to RBI, there will be a total of 12 bank holidays in June 2025, which includes Sunday, second and fourth Saturday. Apart from this, banks will also remain closed on festivals like Bakrid. Do cash or banking planning in advance.

10. Paying utility bills through credit card can be expensive

Some banks have indicated that from June, extra charges may be levied on paying utility bills like electricity, water etc. using credit cards or the cashback terms may be changed.

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In this connection, private sector HDFC Bank has reduced the interest rates of some selected tenure FD schemes. HDFC Bank has reduced the interest rates by 20 basis points i.e. up to 0.20 percent. Let us tell you that the largest private bank has made this change for FDs of less than Rs 3 crore. The new interest rates of the bank will be effective from May 23, 2025. Earlier, HDFC Bank had also reduced the FD rates by 50 basis points in April 2025.

Ordinary citizens will now get up to 6.85% interest on FD

After the reduction in FD interest rates, now general citizens will get interest ranging from 3% to 6.85% on FD. While senior citizens will be given interest ranging from 3.5% to 7.35%. Before this latest change, HDFC Bank was offering interest ranging from 3% to 7.10% on FD to general citizens and 3.5% to 7.55% to senior citizens. HDFC Bank has not reduced interest rates on FDs of all tenures. This reduction has been done only for FDs of certain tenures.

Interest rates for FDs with tenures of more than 1 year and less than 15 months reduced
HDFC Bank has reduced the interest rate given to ordinary citizens on FDs of more than 1 year and less than 15 months by 0.10 percent. Now ordinary citizens will get 6.50 percent interest on FDs of this duration, which was 6.60% earlier. Apart from this, the bank has reduced the interest rate by 0.20 percent for FDs maturing in a period of 18 months to less than 21 months, which has come down from 7.05% to 6.85%.

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The post Tax-saving FDs: These are the best tax saving FD which can reduce your income tax liability first appeared on Rightsofemployees.com.

If you want to take advantage of higher interest rates, you can invest in these schemes before March 31, 2025. In recent years, banks have offered special fixed deposits (FDs) to attract investors. These offer higher interest than traditional FDs. Senior citizens especially get better returns from these schemes.

However, the recent indications of a cut in policy rates by the Reserve Bank of India (RBI) have increased the possibility that FD interest rates may also come down. Since interest rates usually change according to the monetary policy of the RBI, there is also a possibility that banks may soon discontinue these special FD schemes. For this reason, investors are advised to take advantage of these special schemes by investing before the deadline of March 31, 2025.

Major FD schemes of banks and their interest rates

1. State Bank of India (SBI) – Amrit Vrishti & Amrit Kalash

2. Indian Bank – IND Supreme 300 Days & IND Super 400 Days

3. IDBI Bank – Utsav Callable FD

4. Bank of Baroda – Monsoon Dhamaka FD

SBI’s Amrit Varsha and Amrit Kalash FD

Amrit Varshi (444 days)

7.25% interest for general citizens

7.75% interest for senior citizens

Amrit Kalash (400 days)

7.10% interest for general citizens

7.60% interest for senior citizens

IDBI Bank Utsav Callable FD

This scheme offers different interest rates for different maturity periods ranging from 300 to 700 days.

Indian Bank Special FD Schemes

IND Supreme 300 Days & IND Super 400 Days

Maximum interest rate of 8.05% for super senior citizens

Ordinary investors are also getting higher interest.

Bank of Baroda Monsoon Dhamaka FD

333 days FD – 7.15% interest for general citizens and 7.65% for senior citizens.

399 days FD – 7.25% interest for general citizens, 7.40% on non-callable deposits and 7.75% for senior citizens.

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These include rules related to LPG cylinder price, demat account nomination, fixed deposit (FD) interest rates, UPI payments, tax rules and security of GST portal. In such a situation, it is important that you are aware of these rules in advance and adjust your financial plan accordingly.

With the start of a new month, several important rules related to transactions change, which can affect your pocket. These include rules related to LPG cylinder price, demat account nomination, fixed deposit (FD) interest rates, UPI payments, tax rules and security of the GST portal. In such a situation, it is important that you are aware of these rules in advance and adjust your financial plan accordingly.

The Securities and Exchange Board of India (SEBI) has made changes in the nomination process of demat and mutual fund accounts. Now investors can add up to 10 nominees. This rule has come into effect from today i.e. March 1. It will be mandatory for single account holders to add a nominee, which will make it easier to claim money in future. It will be necessary for the nominee to provide PAN, Aadhaar (last four digits) or driving license number. In a joint account, if one account holder dies, the money will be automatically transferred to the other account holder.

Commercial cooking gas cylinder price

hiked Oil companies update LPG cylinder prices at the beginning of every month. The government has increased the price of a 19 kg commercial gas cylinder by Rs 6 from March 1. After this increase, the price of a commercial cylinder in Delhi has become Rs 1,803, in Kolkata Rs 1,913 and in Mumbai Rs 1,755.50. However, there has been no change in the prices of domestic gas cylinders.

New UPI payment rules implemented

The new rules for paying insurance premium through UPI have come into effect from March. Under the Insurance-ASBA facility, policyholders can block the insurance premium amount in their bank account. If the insurance company accepts the proposal, the amount will be automatically deducted. If the offer is rejected, the amount will be unblocked again in the account. This change has been made to make UPI payments more secure.

Security of GST portal to be strengthened

The GST portal is being made more secure for traders. Now multi-factor authentication (MFA) will be mandatory. Business owners will need to update their IT systems. This will make online transactions on the GST portal more secure than before.

Banks will remain closed for 14 days

Due to festivals and weekends, banks will remain closed for 14 days this month. There will be 5 Sundays and 2 Saturdays holidays this month. Banks will remain closed for 2 days due to Holi. Other local festivals and government holidays will also affect the functioning of banks. So if you have to go to the branch for any important banking related work, then first check the list of holidays.

Changes in tax rules

The new tax slab and TDS limit may come into effect from March 2025. The government has indicated that some tax exemptions may be given to the middle class and salaried class. The change in tax slab is expected to provide relief to lakhs of taxpayers. Apart from this, banks may also revise home loan interest rates this month after the RBI reduced the repo rate.

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In the last few days, 3 banks have changed the FD interest rates. If you get an FD in them, then you can get up to 8.25 percent interest. Let’s know which are these 3 banks.

1. Yes Bank FD interest rates

You can get up to 8.25 percent interest on FD of up to Rs 3 crore in Yes Bank. Recently, the bank has reduced the interest rates by 25 basis points on FDs of 18 months duration. These new rates are effective from November 5, after which the interest rate for this period has become 7.75 percent. Now common citizens will get interest ranging from 3.25 percent to 7.75 percent on FD in Yes Bank. On the other hand, senior citizens will get interest ranging from 3.75 percent to 8.25 percent. The highest interest is being given only on the period of 18 months. It is 7.75 percent for common citizens, while it is 8.25 percent for senior citizens.

2- Punjab & Sind Bank FD interest rates

Punjab and Sindh Bank has revised the interest rates on November 14 itself. Now Yes Bank’s interest rates for common citizens are between 4 percent to 7.45 percent and senior citizens are being given an additional interest of 0.50 percent. These interest rates are for a period of 7 days to 10 years. The bank is giving 7.50 percent interest on 555 days non-callable FD. Senior citizens are being given 8 percent interest on this FD.

3- Bank of Maharashtra FD interest rates

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The new rates have come into effect, which has increased the possibilities of better returns for FD investors.

If you are planning to invest in Fixed Deposit (FD), then there is good news for you. Some major banks have increased the interest rates of FD, due to which investors will now get a chance to get an annual return of more than 8%. Punjab National Bank, Punjab & Sind Bank and Bank of Baroda have revised their interest rates. If you are planning a high return FD, then you can get FD with the new rates of these banks. These new rates have become effective from October 3, 2024.

In recent times, the number of people investing in FDs has increased rapidly. The main reason for this is that there is no risk of market fluctuations when investing in FDs and a fixed return is guaranteed. Although the interest rates of FDs may be relatively low compared to other schemes, investors still prefer to invest here considering it a safe option. Let us know what changes have happened in the interest rates.

Punjab National Bank

For general citizens, Punjab National Bank is offering interest rates ranging from 3.50% to 7.25% for tenures ranging from 7 days to 10 years, while for senior citizens, the interest rate ranges from 4% to 7.75% and for super senior citizens, the interest rate ranges from 4.30% to 8.05%. Especially high interest rates of 7.25%, 7.75% and 8.05% are being offered for tenures of up to 400 days.

Punjab & Sind Bank

Punjab & Sind Bank is offering interest rates ranging from 2.80% to 7.25% to general citizens on FDs with tenures ranging from 7 days to 10 years. Also, senior citizens are getting an additional interest of 0.50% on fixed deposits of less than Rs 3 crore. Super senior citizens are also being given an additional benefit of 0.15% on FDs of certain periods (222 days, 333 days, 444 days, 666 days, 999 days).

Bank of Baroda

Bank of Baroda is also luring investors with attractive interest rates. For general citizens, rates ranging from 4.25% to 7.15% are applicable on FDs with tenures ranging from 7 days to 10 years. Senior citizens are getting interest rates ranging from 4.75% to 7.60%, while super senior citizens are also being given the benefit of additional interest rates.

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Highest FD Interest Rates for Senior Citizens: The business of all the small finance banks working in India is continuously growing. Small finance banks are giving more interest on FDs to their customers than commercial banks. This is the reason why now people are increasingly opening FD accounts in these small finance banks along with banks. Here we will talk about those small finance banks which are giving the highest interest on fixed deposits to senior citizens. Let us tell you that senior citizens are given 0.5 percent more interest on FDs than normal customers. But there is also a small finance bank which is giving 0.6 percent more interest to senior citizens than normal customers.

Jana Small Finance Bank

Jana Small Finance Bank is offering the highest interest rate of 8.75% to senior citizens on FD schemes with tenures of 365 days, 730 days and 1095 days.

Equitas Small Finance Bank

Equitas Small Finance Bank is offering the highest interest rate of 9.00% to senior citizens on FD schemes with tenures of 444 days.

Also Read- Bank FD Rate Hike: PNB revises its fixed deposit interest rates; check latest rates here

Utkarsh Small Finance Bank

Utkarsh Small Finance Bank is offering 0.6 percent more interest to senior citizens on FD schemes than general customers. This bank is offering the highest interest rate of 9.10% to senior citizens on FD schemes with tenures of 730 days to 1095 days and 1500 days.

Suryodaya Small Finance Bank

Suryodaya Small Finance Bank is offering the highest interest rate of 9.10% to senior citizens on fixed deposit schemes with tenures ranging from 2 years and 1 day to 3 years.

Unity Small Finance Bank

Unity Small Finance Bank is offering the highest interest rate of 9.50% to senior citizens on FD schemes with tenures ranging from 1001 days.

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Highest FD Interest Rates for Senior Citizens: World Senior Citizen Day, celebrated for the first time in the year 1991, is now celebrated every year on 21 August. Today is 21 August and World Senior Citizen Day is being celebrated all over the world today. To make this special occasion memorable, you can open an FD account in the name of your parents, grandparents. Here we will tell you about those banks which are giving a huge return of 9.5 percent to senior citizens.

These banks are giving more interest than regular commercial banks

Yes, all the small finance banks of the country are offering higher interest on fixed deposits to senior citizens than regular commercial banks. Here we have taken out information about the highest interest plans being given on FDs to senior citizens by 6 different small finance banks. The maximum interest in these is 9.5 percent and the minimum interest is 8.75 percent.

Jana Small Finance Bank

Jana Small Finance Bank is giving 8.75% interest to senior citizens on FDs with tenure of 365 days, 730 days and 1095 days.

Equitas Small Finance Bank

Equitas Small Finance Bank is giving 9.00% interest to senior citizens on FDs with tenure of 444 days.

Utkarsh Small Finance Bank

Utkarsh Small Finance Bank is giving 9.10% interest to senior citizens on FDs with tenure of 730 days to 1095 days and 1500 days.

Also Read- Special FD: These banks are offering up to 8.85% interest on limited period FDs, get FD done quickly

Suryoday Small Finance Bank

Suryoday Small Finance Bank is offering 9.10% interest to senior citizens on FDs with tenures ranging from 2 years to 3 years.

Unity Small Finance Bank

Unity Small Finance Bank is offering 9.50% interest to senior citizens on FDs with tenures ranging from 1001 days.

North East Small Finance Bank

This bank is offering 9.50% interest to senior citizens on fixed deposits with tenures ranging from 546 days to 1111 days.

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Change in interest rates

Bank of Baroda revised its FD rates on August 2, 2024. Now customers can get interest ranging from 4.25% to 7.25% on FDs up to Rs 3 crore. Notably, senior citizens will get up to 7.90% interest on FDs ranging from Rs one crore to Rs three crore. The

new interest rates are as follows:

– FDs of 7 to 14 days: General public will get 4.25% and senior citizens will get 4.75% interest.
– FDs of 15 to 45 days: General public will get 4.50% and senior citizens will get 5% interest.
– FDs of 46 to 90 days: General public will get 5.50% and senior citizens will get 6% interest.
– FDs of 91 to 180 days: General public will get 5.60% and senior citizens will get 6.10% interest.
-FD of 181 to 210 days: General public will get 5.75% interest and senior citizens will get 6.25% interest.
– FD of 211 to 270 days: General public will get 6.15% interest and senior citizens will get 6.65% interest.
– FD of 271 days to less than 1 year: General public will get 6.25% interest and senior citizens will get 6.75% interest.
– FD of 333 days: General public will get 7.15% interest and senior citizens will get 6.65% interest.
– FD of 360 days: General public will get 7.10% interest and senior citizens will get 7.60% interest.
– FD of 1 year: General public will get 6.85% interest and senior citizens will get 7.35% interest.
– FD of 399 days: General public will get 7.25% interest and senior citizens will get 7.75% interest.
– FDs for 1 year to 400 days: General public will get 6.85% interest and senior citizens will get 7.35% interest.
– FDs for 400 days to 2 years: General public will get 6.85% interest and senior citizens will get 7.35% interest.
– FDs for a period of more than 2 years and up to 3 years: General public will get 7.15% interest and senior citizens will get 7.65% interest.
– FDs for a period of more than 3 years and up to 5 years: General public will get 6.50% interest and senior citizens will get 7.15% interest.
– FDs for a period of more than 5 years and up to 10 years: General public will get 6.50% interest and senior citizens will get 7.50% interest.

Special rates for senior citizens

The bank has also increased interest rates for senior citizens. This special rate will be applicable on FDs ranging from Rs 1 crore to Rs 3 crore, in which interest up to 7.90% will be available. FD investors will get good benefits due to this new interest rate issued by Bank of Baroda. This can be a great opportunity for those who are looking for high interest along with safe investment.

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Union Bank of India is offering an interest rate of 3.5 percent to the general public on FDs maturing between seven to 45 days. FDs between 46 days to 90 days are now getting an interest rate of 4.50 percent. It is offering 4.80 percent interest on FDs maturing between 91 days to 180 days. FDs from 181 days to less than 1 year are getting 6.25 percent interest.

FD Rates for Senior Citizens

Senior citizens are getting an extra interest of 0.50% over and above the normal rates. The maximum interest rate given to senior citizens is 7.75 percent for 399 days.

Super Senior Citizen FD Rates

The bank is offering 0.75 percent more interest for super senior citizens. The maximum interest rate on FD of 399 days is 8 percent.

Union Bank FD Rates – Here are the interest rates for general citizens and senior citizens

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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.

LIC New Pension Plan: Life long pension of one lakh rupees to all the elderly, fill the form

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Highest FD Interest Rates: If you are planning to invest in FD this time after seeing good interest rates, then this news is useful for you. Bumper interest is being given on FD by some private banks. After the repo rate reached 6.5 percent, many banks are giving good returns on FD. Unity and Suryoday Small Finance Bank are giving more than 9 percent interest to their customers. The investment on some tenure FDs from both these small finance banks is much higher than investment schemes like PPF, Employees Provident Fund (EPF) and Sukanya Samriddhi Yojana (SSY).

Unity Small Finance Bank

Unity Small Finance Bank is giving interest between 4.5% to 9% to regular customers. The bank is giving an annual interest of 9.5% to senior citizens. This interest is being given on FD with a period of 1001 days. But for general investors this interest is 9%. Senior citizens get interest rates ranging from 4.5% to 9.5% from the bank on deposits maturing in 7 days to 10 years.

Suryoday Small Finance Bank

Suryoday Small Finance Bank is offering interest between 4% to 9.1% to general customers on FDs maturing between 7 days to 10 years. From the bank, senior citizens are getting interest ranging from 4.5% to 9.6% on deposits maturing in 7 days to 10 years. The highest interest rate of 9.1% is offered on a tenure of five years. Suryoday Small Finance Bank said that regular customers can get interest rate of 9.10% on deposits of 5 years. For senior citizens, this interest rate is 0.5 percent higher i.e. 9.60%.

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The post Highest FD Interest Rates: Good news! Interest in these banks is higher than PPF-Sukanya Samriddhi first appeared on Rightsofemployees.com.

In today’s time, people mostly use Fixed Deposit (FD) for saving. Especially senior citizens invest in these. They choose this for their regular income. Senior citizens prefer to keep their money in fixed deposits. This is an attractive investment option for them. Both public and private sector banks offer them special FD schemes.

Senior citizens can take advantage of these FD schemes by comparing interest rates. Senior citizens can earn up to 8.1% interest on three-year FD. This rate is applicable on deposits up to Rs 2 crore. Senior citizens looking to invest should take advantage of the high interest rates prevailing in the market. Here we have told about the interest rates offered by different banks on three-year FD for senior citizens.

interest rates comparison

• Bank Name Interest Rate
• DCB Bank 8.10%
• RBL Bank 8.00%
• YES BANK 8.00%
• Bandhan Bank 7.75%
• Bank of Baroda 7.75%
• IDFC Bank 7.75%
• IndusInd Bank 7.75%
• Axis Bank 7.60%
• Kotak Mahindra Bank 7.60%
• Punjab National Bank 7.50%
• HDFC Bank 7.50%
• ICICI Bank 7.50%

Some benefits of FD for senior citizens

high interest rates

Senior citizens get higher interest rates than regular FDs. Some banks also offer special FD schemes for senior citizens that offer even higher interest rates.

Tax benefit

Senior citizens get tax benefits on interest earned on FD (Interest earned on FD for senior citizens). They can avail tax exemption on interest income up to ₹50,000 under Section 80TTA.

Security

FDs are insured by the Deposit Insurance Corporation of India (DIC), which protects deposits up to Rs 5 lakh.

Regular flow of income

Interest earned from FD provides a regular flow of income for senior citizens.

Resilience

FDs are available for different tenures, so senior citizens can choose the scheme as per their needs.

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Which customers are eligible for 9.40% FD interest rate?
According to a press release from Shriram Finance, ‘Senior citizens aged 60 years or above at the time of deposit/renewal are eligible to earn an additional 0.50% interest per annum, while women investors can avail an additional 0.10% interest per annum. SFL will offer additional interest of 0.25% per annum on all renewals.

Female senior citizens who invest in 50 month and 60 month fixed deposits are eligible for 9.40% interest rate per annum. This includes 0.50% per annum for senior citizens and 0.10% per annum for women.

Who will get how much interest?
Shriram Finance senior citizen FD investors will earn 9.30% interest on FDs for tenures of 50 months, 60 months, female senior citizen investors will earn 9.40% FD interest rate. Regular citizens will earn 8.80% on the same tenure.

Talking about the safety of Shriram Finance FDs, the FD has been given [ICRA]AA+ (Stable) rating by ICRA and IND AA+/Stable rating by India Ratings and Research.

Also Read- 

PPF Extension Rules: How many times can you get extension of PPF?

ICICI Bank again revise interest rate on FD in April, check new rate here

Post Office Scheme: Investment of Rs 5 lakh in this scheme will turn into Rs 10,51,175, you just have to do this work

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The benchmark marginal cost lending rate (MCLR) has been increased by HDFC Bank. The bank has increased the MCLR for loans of certain tenures, which has come into effect from January 8. The very next day, the bank also increased the interest rates on fixed deposits (FD). The bank has increased the interest rates by up to 25 basis points for some selected periods. These interest rates have come into effect from 9th February.

MCLR rates increased

HDFC Bank has increased MCLR from 8.80 percent to 9.30 percent. The rate for overnight MCLR has been increased by 10 basis points to 8.80 percent, which was earlier 8.70 percent. Whereas MCLR has been increased by 5 basis points for 1 month. Due to this, the interest rate has been increased from 8.75 percent to 8.80 percent.

If we talk about 3 months MCLR, it has also been increased by 5 basis points. Earlier it was 8.95 percent, which has now increased to 9 percent. At the same time, the MCLR rate for 6 months has been increased to 9.20 percent. The 1 year MCLR rate has been increased by 5 basis points to 9.25 percent. Apart from these, there has been no change in the 3 percent MCLR rates and they remain stable at 9.30 percent. Let us tell you that MCLR rates are linked to consumer loans, due to which the loan rates fluctuate.

FD interest rates were also increased

HDFC Bank has also increased the interest rates on fixed deposits (FD). According to the website of HDFC Bank, the new FD rates have come into effect from February 9, 2024. The bank has increased the FD interest rate from 7% to 7.25% for tenure from 18 months to less than 21 months.

HDFC Bank is currently offering 3 percent interest rate on FD of 7-29 days. 3.50 percent interest is being given on FD between 30-45 days. Whereas 4.50% interest will be available on FD of 46 days to less than six months. The bank is giving 5.75% interest on FDs of six months to less than nine months. Along with this, the bank is giving 6 percent interest on deposits with maturity of 9 months to less than one year.

Currently, 6.60% interest is available on FDs between one year and less than 15 months. Whereas 7.10% interest rate is available on FD of 15-18 months. The bank has increased the FD interest rate of 18-21 months by 25 bps from 7% to 7.25%. HDFC Bank is now offering 7% interest on FDs of 21 months to two years and less than eleven months.

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Bank of Baroda

Bank of Baroda is offering interest at the rate of 7.75 percent on three-year FD. Among public sector banks, Bank of Baroda is giving the highest interest to senior citizens. The amount of Rs 1 lakh invested now will grow to Rs 1.26 lakh in three years.

Axis Bank

Axis Bank is offering interest at the rate of 7.60 percent on three-year FD to senior citizens. The amount of Rs 1 lakh invested now will grow to Rs 1.25 lakh in three years.

HDFC Bank

HDFC Bank, ICICI Bank and Punjab National Bank offer interest rates of 7.50 percent on three-year FDs. The amount of Rs 1 lakh invested now will grow to Rs 1.25 lakh in three years.

Canara Bank

Canara Bank gives 7.30 percent interest on three-year FD to senior citizens. The amount of Rs 1 lakh invested now will grow to Rs 1.24 lakh in three years.

State Bank of India (SBI)

State Bank of India (SBI) is giving 7.25 percent interest on three-year FD to senior citizens. The amount of Rs 1 lakh invested now will grow to Rs 1.24 lakh in three years.

Bank of India

Bank of India and Union Bank of India offer interest at the rate of 7 percent on three-year FD. The amount of Rs 1 lakh invested now will grow to Rs 1.23 lakh in three years.

Indian Bank

Indian Bank is giving interest at the rate of 6.75 percent on three-year FD to senior citizens. The amount of Rs 1 lakh invested now will grow to Rs 1.22 lakh in three years.

Reserve Bank of India

Deposit Insurance and Credit Guarantee Corporation (DICGC), a subsidiary of the Reserve Bank of India (RBI), provides investment guarantee on FDs up to Rs 5 lakh. In simple words, it means that your investment up to Rs 5 lakh in fixed deposit is completely safe.

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Non-banking financial company Unity Small Finance Bank has changed the interest rates on its fixed deposit (FD) scheme. According to this new rate applicable from October 9, 2023, up to 9.50 percent interest is being offered to senior citizens (senior citizens FD scheme) for amounts less than Rs 2 crore.

According to the news, the bank has increased the interest rates offered on fixed deposits (FD) kept for 701 days. It is now offering an attractive rate of 9.45% per annum to senior citizens for this period. Common people are being offered 8.95% annual interest rate on this period.

The new rates are something like this

Now on deposits with maturity period ranging from 7 days to 10 years, the bank is offering interest rates between 4.50% to 9% for general citizens and 4.50% to 9.5% for senior citizens (Unity Small Finance Bank fd. interest rates) is offering. Similarly, Unity Bank is offering an interest rate of 9.50% per annum to senior citizens for 1001 days.

Whereas it is offering 9.00% per annum to general citizens. Additionally, for tenures of 181 – 201 days and 501 days, Unity Bank is offering interest rates of 9.25% per annum to senior citizens and 8.75% per annum to general investors.

Penalty on premature withdrawal

According to the official website of Unity Small Finance Bank, a charge has to be paid on premature withdrawal of fixed deposits and recurring deposits. Premature penalty of 1.00% is charged on the applicable rate or the contracted rate, whichever is lower, for the period the deposit remains with the Bank. Recently many banks have revised the interest rates on FD.

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Small Finance Banks FD Rates: Despite many investment options available, people still like to invest money in FD schemes. We are telling you about such small saving banks which are giving the benefit of higher interest rates to the customers in a period of only three years as compared to other banks. This list has been made on the basis of data from BankBazaar.

Suryoday Small Finance Bank is offering 8.60 percent interest rate to customers on three-year FD. In such a situation, if you invest Rs 1 lakh for a total of three years, you will get Rs 1.29 lakh on maturity.

Jana Small Finance Bank and Utkarsh Small Finance Bank are offering interest rate of 8.50 percent on three year FD. In such a situation, you will get a return of Rs 1.29 lakh on an investment of Rs 1 lakh.

Fincare Small Finance Bank is offering 8.11 percent interest on three-year FD. In such a situation, on an investment of Rs 1 lakh, you will get a return of Rs 1.27 lakh.

AU Small Finance Bank is offering 8 percent interest rate to its customers on 3 year FD. In such a situation, if you invest Rs 1 lakh for three years, you will get a return of Rs 1.27 lakh.

North East Small Finance Bank is offering customers an interest rate of 7.75 percent on three-year FD. In such a situation, instead of Rs 1 lakh, you will get Rs 1.26 lakh after three years.

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According to the website of Jammu and Kashmir Bank, the new interest rates have come into effect from November 11, 2023. According to the information, the interest rate of 555 days special FD has been increased by 0.40 percent by the bank. Now 7.50 percent interest is being given on this FD. At the same time, interest on special FD of 222 days is 6.3 percent and on special FD of 333 days, interest is 6.6 percent. Let us tell you, you can start FD in Jammu and Kashmir Bank with an investment of Rs 100. 

Interest rates on FD less than Rs 2 crore in Jammu and Kashmir Bank

• 7 days to 30 days 3.50%
• 31 days to 45 days 3.50%
• 46 days to 90 days 4.6%
• 91 days to 180 days 4.75%
• 181 days to 221 days 5.6%
• Up to 222 days* 6.3%
• 223 days to less than 270 days 5.6%
• 271 days to 332 less than 6%
• Up to 333 days* 6.6%
• 334 days to less than 1 year 6%
• From 1 year to less than 554 days 7.1%
• 7.50% up to 555 days 
• Less than 2 years up to 556 days 7.10%
• 2 years to less than 3 years 7%
• 3 years to less than 5 years 6.5%
• From 5 years to less than 10 years 6.5%    

The bank is giving additional interest of 0.50 percent to citizens above 60 years of age. 

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IDBI Bank has changed the interest rates on FDs of less than Rs 2 crore. Along with this, the deadline for investing in 375 days and 444 days special FD Amrit Mahotsav FD has been extended till December 31.

According to the bank’s website, the new interest rates have come into effect on November 12. Under the festive offer, the deadline for 375 days and 444 days Utsav FDs has been extended till December 31, 2023. 

375 days special FD 

The bank is offering 7.10 percent interest to general investors in the 375-day special FD scheme. At the same time, 7.65 percent interest is being given to senior citizens. 

444 days special FD 

The bank is giving 7.25 percent interest to general investors in special FD of 444 days. Senior citizens are being given interest of 7.75 percent. 

Interest rates on FD in IDBI Bank

• On FD from 07 days to 30 days – 3 percent 
• -3.25 percent on FD of 31 days to 45 days 
• On FD of 46 days to 90 days – 4 percent 
• On FD of 91 days to 6 months – 4.5 percent 
• On FD of 6 months, 1 day to 270 days – 5.75 percent 
• On FD from 271 days to less than one year – 6.25 percent 
• -6.8 percent on FD of one year to two years
• From 2 years to less than 3 years – 7 percent
• Less than 3 years to 5 years -6.5 percent
• From 5 years one day to 10 years – 6.25 percent
• 10 years one day to 20 years -4.8 percent 

Let us tell you that the bank is giving additional interest of 0.50 percent to senior citizens. 

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Which banks are giving the highest interest on FD?

Unity Small Finance Bank

Unity Small Finance Bank is offering interest ranging from 4.5 percent to 9 percent to common investors. At the same time, the bank is giving interest ranging from 4.5 percent to 9.5 percent to senior citizens. The highest interest being given by the bank is on FD of 1001 days, which is 9 percent interest to common investors and 9.5 percent interest to senior investors.

Sarvodaya Small Finance Bank

Sarvodaya Small Finance Bank is offering interest ranging from 4 percent to 8.6 percent to general investors and 4.5 percent to 9.1 percent to senior citizens. Banks are offering the highest interest rate of 8.6 percent to general investors and 9.1 percent to senior investors on FDs of more than two years and less than three years.

DCB Bank

Common investors are getting interest ranging from 3.75 percent to 7.9 percent from the private sector DCB Bank. Senior citizens are being given interest ranging from 4.25 percent to 8.50 percent. These rates have come into effect on September 27, 2023.

State Bank of India

The country’s largest bank SBI is also offering attractive interest to FD investors. From SBI, common investors are getting interest ranging from 3.00 percent to 7.10 percent on FDs of 7 days to 10 years. At the same time, interest in the bank for senior investors ranges from 3.5 percent to 7.6 percent.

HDFC bank

HDFC Bank is offering interest ranging from 3 percent to 7.20 percent to common investors. Senior citizens are getting interest ranging from 3.5 percent to 7.75 percent on making FD in the bank. HDFC implemented the new interest rates on October 1, 2023.

ICICI Bank

Private sector ICICI Bank is offering interest ranging from 3 percent to 7.1 percent to investors. Whereas for senior citizens it ranges from 3.50 percent to 7.65 percent. ICICI Bank last changed FD interest rates on October 16.

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Apart from this, IDBI Bank has extended the deadline for investment in Special Deposit Scheme Amrit Mahotsav FD till 31st October. With this, investors have an opportunity to earn huge returns through deposit schemes.

IDBI Bank operates the Special Deposit Scheme Amrit Mahotsav FD in two tenures of 375 days and 444 days. The bank also offers the highest interest rate on this FD scheme. The last date to invest in this FD scheme was 30 September but now it has been extended till 31 October. It is said on the website of IDBI Bank that the festive offer of Amrit Mahotsav FD has been extended for 375 and 444 days till 31 October 2023.

Amrit Mahotsav FD 444 days tenure

According to IDBI Bank, regular customers, NRE and NRO customers are given an interest rate of 7.15% for investing in Amrit Mahotsav FD scheme for 444 days. At the same time, senior citizens are given 7.65% interest rate. The bank also allows investors to make premature withdrawal and closure of this FD.

Amrit Mahotsav FD 375 days tenure

IDBI Bank offers 7.65% interest to elderly people investing on Amrit Mahotsav FD with a tenure of 375 days. Whereas, regular customers, NRE and NRO customers are given an interest rate of 7.10% on Amrit Mahotsav FD with a tenure of 375 days. Also, premature withdrawal and closure are also allowed.

New IDBI Bank FD interest rates

Fixed deposit schemes of IDBI Bank are operated for general citizens with tenure ranging from 7 days to 10 years. On these tenures, the interest rate given to general citizens ranges from 3% to 6.80% and for senior citizens the interest rate is 3.50% to 7.30%. The new interest rates have been made effective from 15 September 2023.

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The new interest rates of the bank have come into effect from September 1, 2023. The bank is offering 3.75 percent to 7.75 percent interest to general customers and 4.25 percent to 8.50 percent interest to senior citizens on Fixed Deposit for a period of 7 days to 120 months. DCB Bank is giving maximum interest of 8.50 percent to senior citizens.

The bank is now offering a maximum interest rate of 7.75 percent to general customers and 8.50 percent to senior citizens on FDs with tenure of 25 months and 37 months. The bank is giving 50 basis points i.e. 0.50 percent extra interest to senior citizens as compared to regular customers.

DCB Bank is giving this much interest on FD

The bank is now offering 3.75 percent interest on FDs with a period of 7 days to 45 days.

The bank is now offering 4.00 percent interest on FDs with a period of 46 days to 90 days.

The bank is now offering 4.75 percent interest on FDs with a tenure of less than 91 days to six months.

The bank is now offering 6.25 percent interest on FDs with a period of 6 months to 10 months.

The bank is now offering 6.90 percent interest on FDs with a period of 10 months to 12 months.

The bank is now offering 7.15 percent interest on FDs with a period of 12 months to 12 months and 10 days.

The bank is now offering 7.25 percent interest on FDs with a period of 12 months and 10 days.

The bank is now offering 7.15 percent interest on FDs with a period of 12 months 11 days to 18 months 5 days.

The bank is now offering 7.50 percent interest on FDs with a period of 18 months, six days to 700 days.

The bank is now offering 7.55 percent interest on FDs with a period of 700 days to 25 months.

The bank is now offering 7.75 percent interest on FD with a period of 25 months.

The bank is now offering 7.60 percent interest on FDs with a period of 25 months to 37 months.

The bank is now offering 7.75 percent interest on FD with a period of 37 months.

The bank is now offering 7.40 percent interest on FDs with a period of 37 months to 61 months.

The bank is now offering 7.65 percent interest on FD with a period of 61 months.

The bank is now offering 7.25 percent interest on FDs with a period of 61 months to 120 months.

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IndusInd Bank has cut its FD rates by 0.25 percent. Now common citizens will get a maximum interest of 7.5 percent on getting FD in IndusInd Bank. At the same time, senior citizens will now get interest of up to 8.25 percent. The new rates of the bank have come into effect from today, August 5, 2023.

IndusInd Bank FD Rates

Interest on FDs maturing in 7 to 30 days – 3.50% Interest
on FDs maturing in 31 to 45 days – 3.75%
Interest on FDs maturing in 46 to 60 days – 4.25%
61 to 90 Interest on FDs maturing in days – 4.60 per cent
Interest on FDs maturing in 91 to 120 days – 4.75 per cent Interest
on FDs maturing in 121 to 180 days – 5 per cent Interest
on FDs maturing in 181 to 210 days – 5.85 percent
Interest on FDs maturing in 211 to 269 days – 6.1 percent
Interest on FDs maturing in 270 to 354 days – 6.35 percent
Interest on FDs maturing in 355 to 364 days – 6.35 percent
Interest on FDs maturing in 1 year to 1 year 6 months – 7.5% Interest
on FDs maturing in 1 year to 6 months to 2 years – 7.5% Interest on
FDs maturing in 2 years to 3 years – 7.50%
3 years to 61 Interest on one month FD – 7.25 percent
Interest on 5 year FD – 7.25 percent

IndusInd Bank has 2,103 Branches/Banking Outlets and 2,861 ATMs

As on December 31, 2021, IndusInd Bank had 2,103 Branches/Banking Outlets and 2,861 ATMs, spread across 769 Geographical Areas across the country.

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This deduction has been made by the bank at a time when the RBI meeting to review interest rates is scheduled next week.

Latest interest rate on FD of IndusInd Bank

From the bank, 3.5 percent on FDs from 7 days to 30 days, 3.75 percent on FDs from 31 days to 45 days, 4.25 percent on FDs from 46 days to 60 days, 4.60 percent on FDs from 61 days to 90 days Percentage, 4.75% on FDs from 91 days to 120 days, 5.00% on FDs from 121 days to 180 days, 5.85% on FDs from 181 days to 210 days, 6.10% on FDs from 211 days to 269 days, 6.35 percent interest is being given on FDs ranging from 270 days to 364 days.

The bank is giving 7.50 percent interest on FDs of one year to two years, 7.25 percent on FDs of two years one day to less than 61 months and 7.00 percent on FDs of 61 months and above.

Interest to senior citizens

An additional interest of 0.75 percent is being given by the bank to senior citizens on FDs of less than two crores on FDs of all periods.

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Unity Small Finance Bank (SFB) has changed its interest rates on fixed deposit schemes with investment amount less than Rs 2 crore. According to the bank, the bank is paying 4.50% to 9% interest rate on FDs with maturity ranging from 7 days to 10 years. At the same time, 9% interest is being given to ordinary citizens on FD of 1001 days and it has been announced to give interest up to 9.50% to senior citizens.

New interest rates of Unity Small Finance Bank
Unity Small Finance Bank has implemented new interest rates on fixed deposits from June 14, 2023. According to the bank, 4.50% interest rate is being given on FDs maturing in 7 to 14 days and 4.75% interest rate on FDs maturing in 15 to 45 days. Unity Bank is offering 5.25% interest rate on FDs maturing in 46 to 60 days and 5.50% interest rate on FDs maturing in 61 to 90 days.

• FDs maturing between 91 and 6 months will now get 5.75% interest.
• 8.75% interest will be given on FDs with maturity between 6 months and 201 days.
• Paying 6.75% interest rate on FDs maturing in 202-364 days.
• 7.35% interest rate is being given on FDs maturing in 1 year to 500 days.
• An annual interest rate of 8.75% is being given on 501 days FD.
• Interest will be given at the annual rate of 7.35% on FD of 502 days to 18 months.
• Paying interest at the rate of 7.40% on FDs maturing in 18 months to 1000 days.
• On doing this in 1001 days, interest is being given at the rate of 9%.
• 7.65% interest rate is being given on FDs maturing in 1002 days to 3 years.
• 8.25% interest is being given on FD from 3 years to 5 years.
• 7.00% interest rate is being given on EFI maturing in 5 years to 10 years.

FD Interest Rates for Senior Citizens

Unity Small Finance Bank (SFB) (Unity Bank FD Rates) offers senior citizen customers 0.50% higher rate of interest on FD investment than normal customers. For senior citizens, interest rate ranging from 4.5% to 9.50% is being given on FDs with tenure between 7 days to 10 years.

Penalty on FD Premature

Withdrawal Unity Small Finance Bank (SFB) charges a penalty of 1.00% for premature withdrawal of Fixed Deposits and Recurring Deposits.

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At the same time, some big banks are launching special FDs to attract investors. In this episode, HDFC Bank has started 2 special FDs. According to the information given on the bank’s website, this offer is for a limited period.

Interest up to 7.75%

It has been told on the website that this FD will get interest at the rate of 7.20% for a period of 35 months and at the rate of 7.25% for a period of 55 months. At the same time, 0.50% additional interest will be given to senior citizens. This means that senior citizens will be able to get an interest rate of 7.70% on FD for a period of 35 months. At the same time, it will reach 7.75% for a period of 55 months.

HDFC Bank FD Interest Rates

HDFC Bank is offering 3% interest rate on FDs maturing between 7 to 29 days. An interest rate of 3.50% is being given on deposits maturing between 30 to 45 days, while an interest rate of 4.50% is being given on FDs maturing between 46 days and less than six months. This bank is offering 5.75% interest for tenors less than six months and 1 day to 9 months.

For a period of 9 months 1 day and less than 1 year, the bank is giving 6% interest. Most FD interest rates for a period beyond one year remain above 7 percent. It means to say that long term investing is a better option to earn more profits.

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Now a bank has increased the interest rates on FD. Actually, Fincare Small Finance Bank has changed its FD interest rates for senior citizens and others. Recently, the bank said in a statement that common customers can earn up to 8.51 per cent interest on FDs and senior citizens can earn up to 9.11 per cent, but for this the minimum deposit should be Rs 5000. The revised rates have come into effect from May 25, 2023.

Up to 9.11 percent interest to senior citizens

Fincare Bank is offering 9.11 percent interest on 1000 days FD to senior citizens. This is the highest interest rate offered by this bank over different tenures. For common citizens, the interest rate on FD of 1000 days is 8.51 percent.

FD rates of Fincare Small Finance Bank

The bank is offering 8.6 percent interest to senior citizens and 8 percent interest to others on FDs ranging from 59 days, 1 day to 66 months. On FDs ranging from 66 months 1 day to 84 months, senior citizens will get a return of 7.6 per cent and others up to 7 per cent. The bank is also giving 8.85 per cent interest to senior citizens on deposits of 36 months 1 day to 42 months, while ordinary citizens will get 8.25 per cent interest on FDs of the same duration.

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Bank of Baroda FD Interest Rates

Bank of Baroda gives its customers the opportunity to save money by investing money in FDs ranging from 7 days to 10 years. According to the bank, up to Rs 2 crore can be invested in these FD schemes. After the change in interest rates, the interest rate of FD for the general public can go up to 7.25 percent. Whereas, senior citizens can earn up to 7.75 per cent.

FD interest rates for general citizens

1. Bank of Baroda will give an interest rate of 3 percent on FDs maturing between seven to 45 days.
2. It is offering an interest rate of 4.5 per cent on FDs maturing between 46 and 180 days.
3. Bank of Baroda will pay interest at the rate of 4.5 per cent on FDs maturing between 181 to 210 days.
4. 5.75 percent interest will be given on FDs maturing between 211 days and less than one year.
5. The bank is offering an interest rate of 6.75 percent on FDs between one and two years.
6. Will offer an interest rate of 7.05 percent on FD tenure of more than two years and up to three years.
7. The bank is offering an interest rate of 6.50 per cent on FDs maturing between three and ten years.

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FD interest rates for senior citizens

• For FDs maturing between 7 to 45 days, the bank is offering an interest rate of 3.5 percent to senior citizens.
• Will give an interest rate of 5 percent on FDs maturing between 46 days and 180 days.
• 5.75 percent interest rate will be available on FDs maturing between 181 and 210 days.
• You can get 6.25 percent interest rate on FDs maturing between 211 days and less than one year.
• Fixed deposits maturing between one to two years will get an interest rate of 7.25 per cent.
• The bank is giving an interest rate of 7.55 per cent on FDs ranging from two years to three years.
• The bank is paying 7.15 per cent interest on FDs maturing between three and five years.
• It is paying an interest rate of 7.55 per cent on FDs maturing for more than 5 years.

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This merger is expected to be completed by the month of June. HDFC customers, whether borrowers or depositors, may see changes in FD interest rates after this merger. Let us find out how the FD interest rates will change for these customers after the merger.

Difference in interest rates

FD interest rates in HDFC Bank have always been lower than the interest rates offered by housing finance company HDFC. If you invest in HDFC FDs of less than Rs 2 crore for a tenure of 66 months, you will get an annual interest of 7.45 per cent till May 8, 2023. HDFC Bank is offering an interest rate of 7 percent for the same tenure. But after the merger, there will be a change in FD interest rates.

The interest rates for FD in Housing Finance Company range from 6.95 percent to 8 percent. The tenure of retail FD in HDFC ranges from 22 months to 120 months. Retail FD interest rates in HDFC Bank range from 3 percent to 7.5 percent, while you can choose any tenor of your choice.

What is special for senior citizens

For senior citizens, the housing finance company offers an additional interest rate of 0.25 per cent on deposits up to Rs 2 lakh. However, HDFC Bank offers an additional interest rate of 0.50 percent on FDs on behalf of senior citizens. As you can see, there is a difference in the interest rates offered by HDFC and HDFC Bank.

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After increasing the repo rate of RBI, everyone from government banks to private banks across the country have started giving better returns on their FD savings schemes. However, when the Reserve Bank of India did not change the repo rate in April, most of the banks also kept the FD interest rates the same as before. Although even now many banks are offering tremendous interest on FD. Like this bank is getting a return of up to 9 percent on a deposit of 888 days.

Generally small finance banks offer better interest than government or private commercial banks. The bank that gives interest of up to 9 percent on FD of 888 days also belongs to the small finance sector.

Equitas Small Finance Bank FD

Equitas Small Finance Bank is giving 8.5 percent interest to the common people on 888 days FD. While the bank is offering up to 9 percent interest to senior citizens. This is a better return than the interest rate available on FDs of many other banks in the country. While most of the banks give only 8.1 percent interest.

Can get interest up to 9.31 percent

Customers can get the extra benefit of depositing in Equitas Small Finance Bank’s FD. Interest on these FDs will be credited every quarter, which will be added to the value of the FD. In this way, due to compound interest, common people will get an effective interest rate of 8.77 percent on FD. For senior citizens it will be 9.31 percent.

Compound benefit is available on almost all FDs of Equitas Small Finance Bank with monthly, quarterly and above tenures. Investors can also opt for monthly interest payment if they wish. At the same time, deposits up to Rs 5 lakh with the bank also get insurance protection from the Deposit Insurance and Credit Guarantee Corporation of the Reserve Bank.

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Bulk FD rates from Rs 2 crore to Rs 10 crore have been increased by public sector Punjab National Bank (PNB) . This increase has been done by the bank on FDs ranging from 7 days to one year. According to the official website of the bank, the new interest rates have come into effect from May 4.

Let us tell you, due to the continuous increase in the repo rate from the RBI , banks are continuously increasing the interest rates of FDs. In the last one year, the repo rate has increased from 4.00 percent to 6.50 percent.

PNB new interest rates

PNB has increased the interest rate of bulk FDs from 7 days to 45 days by 0.50 percent from 5.50 percent to 6.00 percent. The interest rate on bulk FDs ranging from 46 days to 90 days has been increased by 0.75 percent. Due to this the interest rate has increased from 5.50 percent to 6.25 percent. The interest rate on FDs of 91 days to 179 days has been increased by 0.50 percent from 6.00 percent to 6.50 percent.

The interest rate on FDs ranging from 180 days to less than one year has been increased from 6.25 percent to 6.50 percent. At the same time, the interest rate on bulk FD of one year period has been increased by 0.25 percent to 7.00 percent.

PNB new interest rates

PNB has increased the interest rate of bulk FDs from 7 days to 45 days by 0.50 percent from 5.50 percent to 6.00 percent. The interest rate on bulk FDs ranging from 46 days to 90 days has been increased by 0.75 percent. Due to this the interest rate has increased from 5.50 percent to 6.25 percent. The interest rate on FDs of 91 days to 179 days has been increased by 0.50 percent from 6.00 percent to 6.50 percent.

The interest rate on FDs ranging from 180 days to less than one year has been increased from 6.25 percent to 6.50 percent. At the same time, the interest rate on bulk FD of one year period has been increased by 0.25 percent to 7.00 percent.

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The country’s largest bank SBI, including private sector big banks HDFC Bank, Axis Bank and ICICI Bank have announced their new FD interest rates. While the repo rate in the country has increased by 2.5 percent in the last 11 months. Now it is at 6.5 percent. RBI last changed the repo rate in February 2023.

Axis Bank is giving more interest

Interest on Axis Bank’s FD these days ranges from 3.50 percent to 7.20 percent. Whereas for senior citizens, this interest rate ranges from 3.50 percent to 7.95 percent. The bank’s new interest rates are valid from April 21, which are available on FDs ranging from 7 days to 10 years.

ICICI Bank FD Interest Rate

ICICI Bank’s FD interest rates range from 3 percent to 7.10 percent. This includes FDs ranging from 7 days to 10 years. Not only this, the bank also gives 0.50 percent extra interest to senior citizens. In these interest rates valid from February 24, senior citizens get interest ranging from 3.50 percent to 7.60 percent on FDs.

HDFC Bank FD Rates

On getting FD from 7 days to 10 years in HDFC Bank, you will get interest ranging from 3 percent to 7.10 percent. Like ICICI Bank, HDFC Bank is giving 0.50 percent extra interest to senior citizens. The bank’s new FD interest rates are applicable from February 21.

FD interest rate of SBI

State Bank of India is paying 3 to 7.10 percent interest on FDs of 7 days to 10 years. It ranges from 3.50 percent to 7.60 percent for senior citizens. The bank’s FD interest rates have not changed since February 15.

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On the one hand, the bank has reduced the interest rates by 0.50 per cent for selected tenures, while on the other hand, it has also increased it by 0.40 per cent for selected tenures. According to the official website of the bank, the bank has changed the interest rates for FDs of less than 2 crores. The bank’s new FD interest rates will be applicable from April 10, 2023.

7.25% interest will be available for 444 days

After the change, instead of 7% on FD of 444 days, the bank will now give a maximum interest of 7.25%. The bank will continue to pay an additional 0.50 per cent to the standard rate to senior citizens and 0.75 per cent to its super senior citizens.

New FD rates of Indian Overseas Bank

The bank is offering its customers 4% on FDs of 7 days to 14 days, 4% on FDs of 15 days to 29 days, 4.25% on FDs of 30 days to 45 days and 46 days to 60 days. Will give 4.25 percent interest on FD. At the same time, the bank will pay 4.25 percent interest on FDs of 61 days to 90 days, 4.50 percent on FDs of 91 days to 120 days and 4.50 percent on FDs of 121 days to 179 days.

On the other hand, the bank will pay 4.95 per cent interest on FDs from 180 days to 269 days, 5.35 per cent on FDs from 270 days to less than 1 year and 6.50 per cent on FDs from 1 year to less than 2 years.

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All the new interest rates on FD will be applicable from today i.e. March 4, 2023. Senior citizens will get a maximum interest of 8.20 per cent on FDs ranging from Rs 15,000 to Rs 5 crore for a period of 44 months. At the same time, those aged 60 years will get 7.95 per cent interest per annum in the same period.

According to the PTI report, the new rates will be applicable on all FDs with a period of 12 months to 60 months. The customer has the option to get this interest on the day of maturity, every month, quarter, six months or annually. You can open an FD with a minimum amount of Rs 15,000. At the same time, the maximum amount of online FD is five crore rupees. There is no maximum amount of offline. You can choose a tenure ranging from 12 to 60 months.

This much new interest will be received

Bajaj Finance’s FD of 12 to 14 months was earlier getting 7.15 per cent interest, which has now increased to 7.40 per cent. At the same time, earlier the interest in 15-month FD was 7.30 per cent, which has now increased to 7.45 per cent. Earlier the interest rate on FDs of less than 15 months to 23 months was 7.15 per cent, which has been increased to 7.50 per cent. In 18 months FD, the interest rate has been increased from 7.15 to 7.40 per cent. The interest rate for FD with a tenure of 22 months has been increased from 7.45 per cent to 7.50 per cent.

Rate of interest for a period of two years

The interest rate for a period of two years has increased from 7.50 per cent to 7.55 per cent. The interest rate on FDs of 25 months to 35 months has gone up to 7.35 percent. The interest rate for FD for a period of 30 months is 7.45 per cent. The rate on FDs with a tenure of 33 months has been increased from 7.70 per cent to 7.75 per cent. The interest rate for FDs with a period of 36 months to 60 months has increased from 7.60 to 7.65 percent. The interest rate of FD of 44 months has increased from 7.85 percent to 7.95 percent.

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After the revision in the interest rates of Citibank, it is paying 2.10% to 7.25% interest to the common people on FDs maturing in 7 days to 10 years. These new rates are available on FDs of Rs 2 crore or less. New rates will be available only for new FDs and FDs that are being renewed.

Citi Bank FD Rates

The bank is offering an interest rate of 3.00% on deposits maturing in 7 days to 30 days. Citibank is offering 2.15% interest on FDs maturing in 15 days to 35 days. Citibank is offering an interest rate of 3.50% on FDs maturing in 36 days to 180 days. Paying 7.25 percent interest on FDs of 181 to 400 days. 3.50% interest is being paid on FDs of 401 to 1096 days. Citibank is offering a maximum interest of 7.25 per cent on FDs of 181 days to 400 days.

FD rates increased due to increase in repo rate

FD interest rates continue to rise from May 2022. RBI started increasing the repo rate from May last year to control inflation. Since then, the repo rate has been increased by 2.25 percent. Although there was a reduction in the inflation rate in November, but even then the RBI increased the repo rate by 0.35 percent on 7 December. After that all the banks started making the loan costlier. Also started increasing the interest on FD.

These banks have increased interest on FD

After increasing the repo rate of RBI in the banking sector, most of the banks are increasing the interest on FD. Now there is a competition among the banks regarding the interest rates on FDs. Everyday one or the other bank is increasing the interest on FD. Till now banks like Yes Bank, SBI, HDFC, Indian Overseas have increased interest on FDs.

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In the new year, in the first week of January, many banks including Bandhan Bank, Punjab National Bank, Yes Bank and Kotak Mahindra have announced to increase the interest rate. The increased rates will be applicable for fixed deposits up to ₹2 crore. Some economic analysts predict that RBI may announce or implement another hike in February 2023. Due to this, the possibility of further increase in interest rates has increased in the coming days.

• Punjab National Bank on January 1 announced an increase in the rates of interest on savings accounts and fixed deposits. PNB increased the interest rate on savings account by 25 basis points, while increased the interest rate on FD by up to 50 basis points. The bank is now offering 4 to 8 percent interest rate on FD.
• Indian Overseas Bank (IOB) on January 1 increased the interest rate on short-term FDs of 7 to 90 days by 75 basis points. The bank currently offers a maximum interest of 6.55% on FDs of 444 days. While the additional rates for senior citizens remain at 0.50% and 0.75% respectively.
• On January 1, Punjab and Sindh Bank has announced an increase in the interest on FDs. The bank is currently offering 2.80% to 6.25% interest on Fixed Deposits with maturities ranging from 7 days to 10 years, while the rate for a tenure of 601 days is 7%.
• Bandhan Bank has announced an increase in interest on FDs on January 5, 2023. The bank currently offers 3.00% to 5.85% on FDs maturing in 7 days to 10 years, while for senior citizens it ranges from 3.75% to 6.60%. The bank is giving maximum interest rate of 7.50% to general citizens and 8% interest to senior citizens.
• Kotak Mahindra Bank increased interest rates on savings schemes by up to 50 bps on January 4, 2023. On FDs maturing in 390 days to less than two years, the bank is now offering a maximum interest of 7% to the general public, while the rate for senior citizens is 7.50%.
• Yes Bank has announced a change in the interest rate on FDs up to ₹ 2 crore on January 3, 2023. The bank is offering interest between 3.25% and 7.00% to the general public, while the rate for senior citizens is 3.75% to 7.75% on deposits ranging from 7 days to 120 months.

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ICICI Bank FD: Private sector bank ICICI has announced to increase interest rates on fixed deposits while giving gifts to its customers in the new year. Now customers will get more profit than before by making fixed deposits. The bank has increased the interest rate on bulk FDs. Now fixed deposits ranging from Rs 2 crore to Rs 5 crore will get higher interest than before.

The new rates have been uploaded on the official website of ICICI Bank. The notification states that it is effective from January 2, 2023. After the change in interest rates, interest ranging from 4.5 percent to 6.75 percent will be available on fixed deposits maturing in 7 days to 10 years.

What are the new rates

ICICI Bank will pay 7.5 percent interest on fixed deposits for a period between 15 months to 2 years. Apart from this, interest will be given at the rate of 4.5 percent on wholesale FDs maturing in 7 days to 29 days and 5.25 percent on FDs maturing in 30 days to 45 days. The bank is offering 5.5 per cent interest for FDs of 46 to 60 days, while interest will be given at the rate of 5.75% for FDs of 61 days to 90 days duration.

FDs maturing in 91 to 184 days will get 6.25% interest, while FDs maturing in 185 to 270 days will get 6.30% interest.

Highest interest will be available on these schemes

On behalf of ICICI Bank, it has been said that interest will be given at the rate of 6.65 percent on fixed deposits of 271 days to less than 1 year, while 7.10 percent on deposits of 1 year to 1 year and 3 months. Will be able to take advantage of interest. Apart from this, ICICI Bank will pay interest at the rate of 7.15 percent on FDs ranging from 15 months to 24 months. Interest will be given at the rate of 7 percent on deposits ranging from 2 years 1 day to 3 years and 6.5 percent on FDs maturing between 3 years and 10 years.

These rates also changed

ICICI Bank has been offering 7:30 percent interest on FB to senior citizens above the age of Rs. Let us tell you that the interest given to senior citizens is higher than the interest given to the general public. This is because banks and the government keep interest rates high to encourage contributions from senior citizens.

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January 3, 2023. According to the new rates, now common investors will get interest ranging from 3.25 percent to 7 percent on FDs ranging from 7 days to 120 months. Whereas, senior citizens will get 3.75% to 7.75% returns on FDs of the same duration. Let us know how much return Yes Bank is giving on FDs of different tenures.

Up to 8 percent interest will be available in this special FD scheme

Investors will get up to 8% returns on Yes Bank’s special FD scheme. Under this, common investors will get 7.25 per cent interest while senior citizens will get 7.75 per cent return on 15-month FD. On 30 months FD, general investors will get 7.50 percent return and senior citizens will get 8 percent return. On FDs of 20 to 22 months, general investors will get 7.25 percent and senior citizens will get 7.75 percent return.

Interest rates on FDs of different tenors (for general investors)

On FD of 7 to 14 days – 3.25 percent interest
On FD of 15 to 45 days – 3.70 percent interest
On FD of 46 to 90 days – 4.10 percent interest
91 to 180 days on FD – 4.75 percent interest
On FD of 181 to 271 days – 5.75 percent interest
272 to less than 1 year on FD – 6 percent interest
On FD of 1 year to 120 months – 7 percent interest

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As the new year 2023 begins, it is the right time for senior citizens to plan their investments and choose tax saving FDs to make the most of the rising interest rates on deposits. Lending may become more expensive in the coming times and banks may want to entice investors to keep their money with them to increase their cash flows.

Starting a tax-saving FD teaches a very important lesson, that is to save more. Saving a penny is earning money. This is a general rule, and it works well for senior citizens as well. Here are some of the key features of the tax saving senior citizen FD.

1. Fixed Returns: Many financial instruments show volatility when it comes to returns. Moreover, investors have to wait for an average of three to five years for their investments to grow. On the other hand, FD gives you fixed returns risk free. There is no risk to your money, and you get assured returns.
2. Flexibility in tenure: FD comes with flexibility of tenure and amount. You can choose any tenure and amount you want to invest. However, for tax saving FDs, you must have a lock-in period of at least five years. Longer tenure helps you deposit more amount with interest. Many people opt for longer tenure and higher maturity amount for tax saving.
3. Zero Maintenance Cost: Unlike mutual funds and stocks, when you invest your money in FDs you don’t really need to track the market and ups and downs. This is a one time activity, and you can get your maturity once your FD tenure is over. There is no cost to anything. You put a fixed amount in the FD account, and you get a lump sum when your FD matures.
4. Liquidity: Despite the lock-in period in case of tax saving senior citizens FD, you can still liquidate your investment if you need funds due to an emergency. The lock-in terms and conditions are not very stringent as compared to other financial instruments. However, you must check with the bank for deductions and penalties when you opt for early withdrawal.
5. Safety: Your money remains completely safe in the FD account until your bank defaults. Despite this, you are eligible to claim a maximum of Rs 5 lakh from the Deposit Insurance and Credit Guarantee Corporation (DICGC) with effect from 4 February 2020. This makes FD a very safe investment option for senior citizens.
6. Tax Saving: Tax deduction of up to Rs 1.5 lakh is allowed under Section 80C, when you invest in a tax-saver FD with a minimum lock-in period of five years.

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Apart from this, to attract their senior citizen customers, these banks also give them the benefit of additional interest in FD interest rates. In such a situation, senior citizens get more returns than common customers on getting FDs in banks. Let’s see how much interest the country’s big government and private banks give to their customers on Fixed Deposit.

SBI Bank gives interest up to 7.25 percent

In the country’s largest public sector bank SBI, senior citizens get a maximum interest of up to 7.25 per cent on fixed deposits. Bank’s customers get 7.25% interest on FDs ranging from 1 year to 3 years. Apart from this, 6.75 percent interest is available on FDs of 3 years to 5 years. At the same time, even on FDs of 5 years to 10 years, the customers of the bank get only 7.25 percent interest.

Bank of Baroda gives this much interest on FD

Like State Bank of India, senior citizen customers of Bank of Baroda also get a maximum interest of 7.25% on FDs. The bank offers this interest to customers on special FDs of 399 days. Apart from this, 6.60 percent interest is available on FDs of 1 year to 2 years, 6.75 percent on FDs of 2 years to 5 years and 6.90 percent on FDs of 5 years to 10 years.

PNB gives 8.05 percent interest to senior citizens

Punjab National Bank offers the highest interest of up to 8.05% on FD to its super senior citizens. Bank’s customers get this interest on 666 days special FD. Apart from this, 7.10% interest is available on FDs of 1 year to 599 days, 7.80% on FDs of 600 days, 7.10% on FDs of 601 days to 665 days and 7.30% on FDs of 3 years to 10 years.

Axis Bank gives this much interest to the customers

Private sector bank Axis Bank gives a maximum interest of 7.75% on bank FDs to its senior citizen customers. Axis Bank offers 7.75% interest on FDs ranging from 2 years to 10 years. Apart from this, the customers of the bank get 7.50 percent interest on FDs ranging from 1 year to 2 years.

HDFC Bank gives interest up to 7.75 percent

HDFC Bank gives interest up to a maximum of 7.75% on fixed deposits to its senior citizens. Bank’s customers get 7.75% interest on FDs ranging from 5 years to 10 years. Apart from this, 7.00 percent interest is available on FDs ranging from 1 year to 15 months and 7.50 percent interest is available on FDs ranging from 15 months to 5 years.

ICICI Bank gives this much interest

Private sector bank ICICI gives interest up to a maximum of 7.50% on Fixed Deposit to its customers. Senior citizen customers of the bank get 7.50% interest on FDs ranging from 15 months to 10 years. Apart from this, customers get 7.10 percent interest on FDs ranging from 1 year to 15 months.

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The bank’s new FD rates have become effective from December 15, 2022. With this hike, the bank is offering one of the highest interest rates across the industry. Customers will now get an interest rate of 7.85 per cent on deposits for a period of 2 to 3 years, while senior citizens are being offered an interest rate of 8.80 per cent for the same period.

Jana Small Finance Bank New FD Rates for Common Citizens

7 to 14 days – 3.75%
15 to 60 days – 4.25%
61 to 90 days – 5.25%
91 days to 180 days – 5.50%
181 days to 364 days – 7.00 Per cent
365 days – 7.25 per cent
> 1 year-2 years – 7.50 per cent
> 2 years-3 years – 7.85 per cent
> 3 years- 5 years-10 years – 6.00 per cent

RBI has increased the repo rate 5 times this year

Reserve Bank has increased the repo rate 5 times so far this year. With the intention of reducing inflation, the central bank increased the repo rate by another 0.35 percent to 6.25 percent in the bi-monthly monetary policy review on December 7.

Many banks have increased the rates of Fixed Deposits

It is noteworthy that recently SBI, Kotak Mahindra Bank, HDFC Bank, Indian Overseas Bank, Suryoday Small Finance Bank, Yes Bank etc. have also increased their FD rates. This process of rate hike has started after the increase in repo rates by RBI.

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Suryoday Small Finance Bank (SFB) has changed the interest rates on FDs of less than Rs 2 crore. According to the official website of the bank, the new rates have come into effect from December 6, 2022. Mature in 5 years The bank is offering a maximum of 9.01% interest to the common citizen on the upcoming Fixed Deposit, while it is offering 9.26% interest to the senior citizens.

Only senior citizens and retired employees who are resident Indians and are at least 60 years old are eligible for the additional interest rate benefit. Interest calculation on Term Deposits Simple interest is paid on maturity for deposits of less than 6 months, on quarterly basis for deposits of more than 6 months.

FD Interest Rates Suryoday Small finance bank revises fixed deposit rates now offer over 9 percent check details

Suryoday SFB is offering 4% interest on FDs maturing in 7 days to 14 days and 4.25% interest on FDs maturing in 15 to 45 days. The interest rate on deposits of 46 to 90 days is 4.50%, while deposits of 91 days to 6 months will get 5% interest.

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8.5 percent interest for general public

According to the information available on the bank’s website, the minimum interest rate on fixed deposits for the general public is 4.50 per cent and the maximum interest rate is 8.50 per cent. At the same time, senior citizens will get an additional benefit of 50 basis points in the interest rate. For them, the minimum interest rate has been made 4.50 percent and the maximum interest rate has been made 9 percent. The new rate is applicable from today itself.

8.5% interest for 181 days

According to the information available on the bank’s website, the interest rate on FD for 7-14 days is 4.5 per cent, 4.75 per cent for 15-45 days, 5.25 per cent for 46-60 days, 5.50 per cent for 61-90 days, 91- 5.75 per cent for 180 days, has been increased to 8.5 per cent for 181 days.

8.5% interest for 501 days

6.75 per cent for 182 days to 364 days, 7.35 per cent for 365 days to 500 days and 8.50 per cent for 501 days. 502 days to 18 months 7.35%, 18 months to 2 years 7.40%, more than 2 years and up to 3 years 7.65%, more than 3 years and up to 5 years 7.65% and more than 5 years up to 10 years 7% Returns are being given.

Talking about senior citizens, the minimum interest rate is 4.5 percent and the maximum interest rate is 9 percent. The interest rate has been reduced to 9 per cent for 181 days and 9 per cent for 501 days fixed deposits.

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According to the bank’s website, the new rates have become effective from November 19, 2022. After the revision, the bank is now offering interest rates between 3.75% and 6.50% on FDs with maturities ranging from 7 days to 10 years. At the same time, a maximum interest rate of 6.75% will now be paid on deposits maturing in 1 to 3 years.

ICICI Bank FD Rates

ICICI Bank is offering an interest rate of 3.75% on FDs maturing in 7 days to 29 days, while the bank is offering an interest rate of 4.75% on FDs maturing in 30 days to 45 days. At the same time, ICICI Bank is providing 5% interest on FDs maturing in 46 days to 60 days and the interest of deposits maturing in 61 days to 90 days is 5.25%.

Deposits maturing in 91 and 184 days will now fetch 5.75% interest, while deposits maturing between 185 and 270 days will now fetch 6.00% interest. ICICI Bank is offering 6.25% interest rate on FDs maturing in 271 days to less than 1 year and FDs maturing in 1 year to 3 years will now get 6.75% interest.

ICICI Bank is currently offering an interest rate of 6.50% on deposits maturing in 3 years 1 day to 10 years.

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Axis Bank Hikes FD Interest Rates: Axis Bank has increased the interest rates of Fixed Deposit (FD) for the second time in the month of November. Axis Bank says that the increased interest rates on Fixed Deposit will be effective from 15 November. Let us tell you that even before this, on November 5, Axis Bank had increased the FD rates. Axis Bank has increased the interest rate on FDs of less than Rs 2 crore.

After the new decision of Axis Bank, FD interest rates for maturities between 15 to 18 months have increased by 15 basis points to 6.40% from 6.25% earlier. Deposits maturing in 18 months to 3 years will now attract an interest rate of 6.50% as against 6.30% earlier, representing an increase of 20 basis points by Axis Bank. The interest rates on deposits maturing in three to ten years will continue to be available up to 6.50%.

Tax exemption is available on FD

• Investment up to Rs 1.5 lakh in tax saving FD is exempted from income tax under section 80C.
• The interest earned on all types of FDs is added to your income tax and taxed as per your income tax slab.
• TDS of 10% is applicable if the PAN card is provided to the bank.
• If PAN card is not provided, TDS 20% is applicable.
• If the interest income from all your FDs is less than Rs 40,000 then no TDS will be levied. For senior citizens this amount is Rs 50,000.
• If your total annual income is less than Rs 2.5 lakh, ie if you are below the taxable limit, you can avoid TDS by submitting Form 15G to the bank.
• Similarly, senior citizens who are below the taxable limit can avoid TDS by submitting Form 15H to the bank.

Features of Tax Saving FD

• You can avail tax exemption under Section 80C on the amount deposited in a tax-saving FD up to a maximum of Rs 1.5 lakh.
• Tax exemption is given only on the initial deposit amount and not on the same deposit amount every year.
• You can book a new tax-saver FD every year to get tax exemption.
• The tenure is of five years and it cannot be withdrawn before the expiry of five years.
• Joint holding is permitted, but only the first holders will be allowed to claim tax exemption on the amount deposited.

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Fixed Deposit Interest Rate (FD Interest Rate)

South Indian Bank is offering FD of maturity period from 7 days to 10 years. The bank is now offering interest ranging from 2.65% to 6.00% for general public and 3.15% to 6.50% for senior citizens.

South Indian Bank is giving 2.65% interest to the common citizen on FDs of 7 days to 30 days, while 3.25% interest is being given on Fixed Deposits of 31 days to 90 days. The bank will pay 4.25% interest on FDs of 91 days to 99 days, 5.50% on FDs of 100 days, 4.25% on FDs of 101 days to 180 days, 4.60% on FDs of 181 days and less than 350 days.

The bank is offering 350 days fixed deposit at 7% interest to the common citizens. FDs of 351 days and less than 1 year 4.60%, Fixed deposits of less than 1 year and 30 months 6.40%, Bank is giving 7% interest on FDs maturing in 30 months.

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After the increase in the repo rate by the RBI, the banks have also started increasing the interest rates. Apart from increasing the interest rate on loans, interest rates on bank deposits have also started increasing. Meanwhile, Axis Bank of the private sector of the private sector has increased the rates of interest on fixed deposits ie FD.

Axis Bank has increased the interest rates for FDs below Rs 2 crore. According to the bank’s website, the new rates have come into effect from November 5, 2022. The bank has increased the interest rates by up to 115 bps on deposits with maturities ranging from 46 days to 10 years. Axis Bank is now offering interest rates ranging from 3.50% to 6.50% for general public and 3.50% to 7.25% for senior citizens on deposits maturing in 7 days to 10 years. The maximum interest rate on deposits with maturity between 3 to 10 years will now be 7.25% for senior citizens and 6.50% for general public.

Axis Bank’s new FD rates

will continue to offer 3.50% interest rate on FDs maturing in 7 days to 45 days, but on deposits maturing in 46 days to 60 days, the bank has increased the interest rate from 3.50% to 4% have make. An interest rate of 4.50% will now be offered on deposits maturing in 61 days to 3 months. Interest rate of 4.50% will now be given on deposits maturing in 3 months to 6 months. Axis Bank has increased the interest rate on deposits maturing in 6 months to 9 months from 50 bps to 5.50% and on deposits maturing in 9 months to 1 year by 75 bps to 5.75%.

RBI has increased the repo rate

for the fourth time in a row. Now the repo rate has reached 5.90 percent. In the MPC meeting of RBI on September 30, it has been decided that the repo rate will be increased by 0.50 percent for the fourth consecutive time. Now the repo rate has been increased from 5.40 percent to 5.90 percent. Earlier, after 0.40 per cent increase in May, there was an increase of 0.50-0.50 per cent in June and August.

Many banks have increased the rates of fixed deposits.

It is noteworthy that recently RBL Bank, Axis Bank, CSB Bank Ltd., Kotak Mahindra Bank, Canara Bank, Indian Overseas Bank etc. have also increased their FD rates. This process of increasing the rates has started after the increase in the repo rates by the RBI.

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After the completion of a certain period, fixed interest is earned on the deposited amount. If you are also thinking of investing in FD, then Bank of India’s ‘Star Super Triple Seven Fixed Deposit’ scheme can be of use to you. The bank has recently launched this scheme. BOI has offered attractive interest rates to its customers on this FD scheme. Know the details.

This scheme will mature on 777 days

Bank of India’s ‘Star Super Triple Seven Fixed Deposit’ scheme will mature on 777 days. On this new scheme, the bank has offered 7.25 percent interest to its customers on the deposited money. On the other hand, if senior citizens deposit the amount under this, then they will be paid an interest rate of 7.75%. The interest rates of 777-day FD scheme of Bank of India are much better than other investment options like Public Provident Fund, Senior Citizen Saving Scheme, National Savings Certificate.

Other FD interest rates

Not only this, Bank of India has increased the interest rate on FDs maturing in 555 days to 6.30%. At the same time, except for the 777 days scheme, other FD schemes which are from 2 years to 3 years, the bank is offering an interest rate of 5.75% on them. Apart from this, Bank of India will now pay an interest rate of 6.25% on schemes maturing in 3 years to 5 years and 5.75 per cent on FDs maturing in 5 years to 10 years.

On other FDs maturing between 1 year to 2 years except 555 days, the bank will pay an interest rate of 5.75%. At the same time, FDs maturing in more than 180 days and less than 1 year will get an interest rate of 4.60%. The interest rate of 3.85% has been offered by the bank on the schemes maturing in 46 days to 179 days, while the interest rate of 2.85% has been offered by the bank on the schemes maturing in 7 days to 45 days.

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PNB FD Rate: After the increase in FD interest rates last week, Punjab National Bank (PNB) has once again increased the interest on FD. The bank has again increased the FD interest rates on deposits below Rs 2 crore. These new rates have come into effect from 26 October. PNB Bank will now offer interest at the rate of 4.50 percent on FDs of 46 days to 90 days. The bank has increased it by 75 basis points. It will now offer an interest rate of 5.50 per cent on FDs ranging from 180 days to less than a year. Earlier, interest of 5 per cent was being available on this.

Now these are the new rates

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Here are the new rates

• SBI is offering interest at the rate of 6.10% on FDs made for tenures ranging from 5 to 10 years.
• Interest will be available at the rate of 6.10% on FDs of 3 to 5 years. 
• FDs for 2 to 3 years will get 6.25 percent interest instead of 5.65%.
• FDs of 1 to 2 years will now get 6.10% interest instead of 5.60 percent.
• FD interest from 211 days to 1 year has been increased from 4.70 percent to 5.50%.
• On FD of 180 to 210 days, interest will be available at the rate of 5.25 percent instead of 4.65%. 
• FDs of 46 to 179 days are now getting interest at the rate of 4.50%. 
• Interest is getting at the rate of 3 percent on FDs of 7 to 45 days. No changes have been made in this.

New FD rates for senior citizens

• Interest is being given at the rate of 6.90% on FDs from 5 to 10 years. 
• Interest is being available at the rate of 6.60 percent on FDs of 3 to 5 years. 
• 6.75% interest is being given on FD of 2 to 3 years instead of 6.15%. 
• The rate of interest on 1 to 2 year FD has been increased from 6.10% to 6.60%.
• Interest is getting at the rate of 6 percent on FDs from 211 days to 1 year. 
• The interest available on FDs of 46 to 179 days has increased from 4.5% to 5%.
• On FDs of 7 to 45 days, 3.50% interest is being given as before. no changes have been made to

SBI gives an additional FD interest of 1 percent to its employees and pensioners. SBI pensioners are getting 7.65% interest on FD of 5 to 10 years.

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With this step being taken by banks before Diwali, loans and EMIs on loans are getting expensive, which has a direct impact on the pockets of the people. However, the country’s largest public sector bank State Bank of India (SBI) has given a big relief to its customers on Tuesday. The bank has increased the savings account interest rates. The new rates increased by the bank have come into effect from October 15, 2022.

New rates applicable from October 15

According to the information received from the official website of SBI, the bank will now give interest at the rate of 30 bps or more on the savings deposited above Rs 10 crore. At the same time, no change has been made on savings deposited less than Rs 10 crore. On this interest will continue to be available at the rate of 2.70 percent as before.

Now 7 days to 10 years will get this much interest

Actually, SBI has taken this step after the increase in the repo rate of RBI. The bank will now give interest from 3 percent to 5.85 percent on FDs of 7 days to 10 years. Earlier, the bank was giving 2.90 percent to 5.65 percent interest on this. At the same time, senior citizens are offering interest from 3.5 percent to 6.65 percent on FD, whereas earlier these people used to get interest of 3.4 to 6.45.

Euro also increased FD interest rates

Apart from this, another bank has increased FD interest rates. Euro has increased the interest rates of FDs from 1 year to 4 years from 0.09 percent to 0.49 percent. At the same time, the interest rates for FDs of 4 years to 5 years have been kept constant.

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Banks have increased their interest rates on both deposits and loans. Recently, many banks including HDFC Bank, ICICI Bank, Kotak Mahindra Bank and Axis Bank have increased FD interest rates. Here’s a comparison of the interest you get on deposits below Rs 2 crore from three banks – Axis, HDFC and ICICI Bank. Which bank is giving more interest on which FD?

New interest rates on FDs of Axis Bank

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HDFC Bank FD Rates: The bank has decided to increase the FD interest rates by 75 basis points i.e. 0.75 percent and these new interest rates have come into effect from 11 October 2022.

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State Bank of India (SBI)

SBI is recognized as the largest lender bank of the country. SBI has increased the interest rates by up to 15 basis points (basis points, bps) on its select FD tenures (FD, fixed deposit tenures). According to the bank’s website, the new rates have become effective from August 13, 2022. At present, it has been implemented on FDs of less than Rs 2 crore.

what interest rate over what period

The interest rate on FD fixed deposit tenures of 180 to 210 days has been fixed by SBI at 4.55 percent. The interest rate has been increased from 5.30 percent to 5.45 percent for a period of one to two years. At the same time, the interest rate on loans of two to three years has been increased to 5.50 percent. The interest has been reduced to 5.60 per cent for three to five years. The bank will now offer an interest rate of 5.65 per cent for tenures ranging from 5 and 10 years.

HDFC bank

HDFC Bank has increased FD interest rates after a gap of two months. The bank has increased the FD rates by up to 40 basis points with effect from August 18, 2022. These rates will be applicable on deposits below Rs 2 crore. In a period of one year to two years, now instead of 5.35 percent, the interest rate will be 5.50 percent.

Kotak Mahindra Bank

Kotak Mahindra Bank has increased the interest rates on FDs by up to 15 basis points for one to three years (for amounts less than Rs 2 crore) with effect from August 17, 2022. The interest rate on FDs of 365 to 389 days has been increased by 15 basis points from 5.60 per cent to 5.75 per cent. The interest rates on FDs with maturities ranging from 390 days to three years have been increased by 15 basis points to 5.90 per cent from 5.75 per cent. Interest rates have not been raised for FDs with tenures of three to ten years; Interest will be available on this at the rate of 5.90 percent.

Axis Bank

Axis Bank has also increased the interest rates on limited tenure FDs of less than Rs 2 crore. The bank has reduced the interest rate for FDs of 17 to 18 months by 45 basis points from 5.60 percent to 6.05 percent. The interest rates are the same on other FD tenors as well.

ICICI Bank

ICICI Bank has increased the interest rates on select tenor FDs by up to 40 basis points for amounts below Rs 2 crore. The new rates have become effective from August 19, 2022. ICICI Bank will now offer interest rates ranging from 2.75 per cent to 6.10 per cent for tenures ranging from 7 days to 10 years.

Punjab National Bank

Punjab National Bank (PNB) has also increased interest rates on FDs below Rs 2 crore. The bank has increased the fixed deposit interest rates by up to 20 basis points. According to the PNB website, the new interest rates are effective from August 17, 2022. The bank has increased the interest rates by up to 20 basis points on fixed tenure FDs. The bank will now pay interest at the rate of 5.50 percent with an increase of 20 basis points on FDs maturing in one year.

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Due to this, the attraction of people towards FD has increased again. However, most of the government and private banks are still not offering inflation-beating returns on FDs. Retail inflation declined marginally to 7.01 per cent in June. When you invest in an FD, it is better that you get returns above the inflation rate. Today we will tell you about some such FDs of Small Finance Banks, which are offering inflation-beating returns.

Ujjivan Small Finance Bank

This bank is currently offering 7.20 per cent return on FDs of less than Rs 2 crore from general customers. This return is on FDs of 2 maturity periods. 990 days on FDs and 42 months on single day to 60 months FDs. At the same time, the bank is offering 0.50 percent higher interest rate to senior citizens. The bank last changed its interest rates on June 13, 2022.

Jana Small Finance Bank

This small finance bank is offering high interest rate on FD ranging from 7.25 to 7.35 to the general citizens. At the same time, 8.05 percent to 8.15 percent interest rate is being offered on FDs from senior citizens. General and senior citizens can get this bumper return on FDs ranging from one year to 5 years.

ESAF Small Finance Bank

This bank is offering 7.25 percent return on FD to the general citizens. At the same time, 7.75 percent interest rate is being offered to senior citizens. This interest rate is being offered on FDs with tenures ranging from 2 years to less than three years.

Suryoday Small Finance Bank

This small finance bank is currently offering 7.49 percent interest rate to the customers. At the same time, 7.99 percent interest rate is being offered from senior citizens. This interest rate is being offered to customers on 999 days FD.

Utkarsh Small Finance Bank

This small finance bank is currently offering 7.25 percent interest rate on FDs of 700 to 1000 days. At the same time, 7.75 per cent return is being offered to senior citizens on FDs of this period.

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