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Fixed deposits are still the most popular means of investment in India. The biggest reason for this is getting guaranteed returns at great interest rates. Different banks offer different interest rates to customers for different periods. Banks keep changing the interest rates offered under fixed deposits. Similarly, at the end of May, banks have also increased the interest rates on FD. Let us know which banks have increased the interest rates on FD and how much-
yes bank
Yes Bank has revised interest rates by 25 basis points (bps) on fixed deposits of less than Rs 2 crore. This change is effective from May 30, 2024. Under this, now general customers will get an interest rate of 3.25 percent to 8 percent. At the same time, senior citizens will be offered interest rates between 3.75 percent to 8.50 percent. The bank offers higher interest rates of 8 percent and 8.50 percent on FDs with a tenure of 18 months.
Unity Small Finance Bank
Unity Small Finance Bank has also revised the interest rates on fixed deposits of less than Rs 2 crore. The bank's latest FD interest rates are applicable from May 1, 2024. Under this, the bank offers interest rates ranging from 4.50 per cent to 9 per cent to general customers on FDs maturing in a period of 7 days to 10 years. At the same time, senior citizens get an interest rate of 8.95 per cent on FDs with a duration of 701 days.
Indusind Bank
IndusInd Bank has also revised interest rates on fixed deposits of less than Rs 2 crore. The bank's latest FD interest rates are applicable from May 1, 2024. The bank offers interest rates ranging from 3.50 per cent to 7.99 per cent on FDs maturing in a period of 7 days to 10 years. Customers get the highest interest of 7.99 per cent on FDs maturing between 15 months to 16 months and 30 months to 31 months.
DCB Bank
DGB Bank has also changed the interest rates on fixed deposits of less than Rs 2 crore. These new rates will be applicable from May 22, 2024. The bank is offering the highest interest rate of 8 per cent to general customers and 8.55 per cent to senior citizens on FDs with tenures of 9 months to 20 months.
IDFC First Bank
IDBI First Bank has also revised interest rates on fixed deposits of less than Rs 2 crore. The bank's latest FD interest rates are effective from May 15, 2024. The bank offers interest rates ranging from 3 per cent to 7.90 per cent on FDs maturing between 7 days to 10 years. At the same time, the bank offers an additional spread of 0.50 per cent to senior citizens. The bank offers a maximum of 8 per cent and 8.40 per cent interest on a period of 500 days.
state Bank of India
State Bank of India has also raised interest rates on fixed deposits of less than Rs 2 crore. The bank's latest FD interest rates are effective from May 15, 2024.
Utkarsh Small Finance Bank
Utkarsh Small Finance Bank has also changed the interest rates on fixed deposits of less than Rs 2 crore. These latest FD interest rates will be applicable from May 1, 2024. The bank offers interest rates between 4 per cent and 8.50 per cent to general customers. While senior citizens get interest rates between 4.60 per cent and 9.10 per cent. The bank offers the highest interest rates of 8.50 per cent and 9.10 per cent for a tenure of 2 years to 3 years.
RBL Bank
RBL Bank has also increased interest rates on fixed deposits of less than Rs 2 crore. These latest FD interest rates will be applicable from May 1, 2024. The bank offers a maximum interest rate of 8 per cent on FDs maturing between 18 to 24 months. At the same time, the bank gives an additional spread of 0.50 per cent to senior citizens. At the same time, an additional interest rate of 0.75 per cent is provided for super senior citizens.
Capital Bank Small Finance Bank
Capital Small Finance Bank has also increased interest rates on fixed deposits of less than Rs 2 crore. These latest FD interest rates are applicable from May 1, 2024. The bank offers interest rates between 3.5 per cent to 7.55 per cent to general customers and 4 per cent to 8.05 per cent to senior citizens. During this period, the highest interest rate is being offered on FDs with a tenure of 400 days.
City Union Bank
City Union Bank has also changed the interest rates on fixed deposits of less than Rs 2 crore. These latest FD interest rates are applicable from May 6, 2024. The bank offers interest rates ranging from 5 per cent to 7.25 per cent to general customers. While for senior citizens, this interest rate ranges from 5 per cent to 7.75 per cent. The bank offers the highest interest of 7.25 per cent and 7.75 per cent on FDs with a tenure of 400 days.
