look news india
Fixed Deposit: If you are planning to invest in Fixed Deposit i.e. FD, then this news is useful for you. 7 banks including State Bank of India (SBI), DCB Bank, IDFC First Bank have revised their FD interest rates in May 2024. Here is the list of revised FD rates in May.
DCB Bank
DCB Bank has revised its FD interest rates for amounts less than Rs 2 crore. According to the DCB Bank website, the new rates are effective from May 22, 2024. The bank is offering the highest FD interest rate of 8 per cent for general customers and 8.55 per cent for senior citizens after the revision for tenures ranging from 19 months to 20 months.
IDFC First Bank
IDFC First Bank has revised FD interest rates on amounts less than Rs 2 crore. The new rates are effective from May 15, 2024. After the change, the bank currently offers interest rates ranging from 3 percent to 7.90 percent for general citizens on deposits maturing in 7 days to 10 years. The bank offers 0.50 percent additional interest to senior citizens. The bank offers interest rates ranging from 3.50 percent to 8.40 percent to senior citizens. The highest interest rate offered to general citizens is 8 percent and to senior citizens is 8.40 percent for a period of 500 days.
State Bank Of India
SBI has increased its FD interest rates on retail deposits (up to Rs 2 crore) and bulk deposits (above Rs 2 crore) for a fixed period. According to the SBI website, the new FD rates are effective from May 15, 2024.
Utkarsh Small Finance Bank
Utkarsh Small Finance Bank has revised its FD interest rates for amounts less than Rs 2 crore. The revised rates are effective from May 1, 2024. After the revision, the bank is offering interest rates between 4 percent to 8.50 percent for general citizens, while for senior citizens, the bank is offering interest rates between 4.60 percent to 9.10 percent. For a tenure of 2 years to 3 years, the highest interest rate of 8.50 percent is being offered to general citizens and 9.10 percent to senior citizens.
RBL Bank
RBL Bank has revised FD interest rates for amounts less than Rs 2 crore. The revised FD interest rates are effective from May 1, 2024. RBL Bank offers the highest interest rate of 8 per cent on FDs maturing between 18 to 24 months. On the same FD tenure, senior citizens will get an additional interest rate of 0.50 per cent i.e. 8.50 per cent and super senior citizens (80 years and above) are eligible for an additional interest rate of 0.75 per cent i.e. 8.75 per cent.
Capital Small Finance Bank
Capital Small Finance Bank has revised FD interest rates for amounts less than Rs 2 crore. The revised rates are effective from May 6, 2024. The bank is offering interest rates between 3.5 percent to 7.55 percent to general citizens. The bank is offering interest rates between 4 percent to 8.05 percent for senior citizens. The highest interest rate is being offered on a tenure of 400 days.
City Union Bank
City Union Bank has revised FD interest rates for amounts less than Rs 2 crore. The revised FD interest rates are effective from May 6, 2024. The bank is offering interest rates between 5 per cent to 7.25 per cent for general citizens and 5 per cent to 7.75 per cent for senior citizens. The highest interest rate of 7.25 per cent is being offered to general citizens and 7.75 per cent to senior citizens for a tenure of 400 days.
