FD interest rate up to 9.5%: These 10 banks have revised FD interest rates in May
Yes Bank has revised fixed deposit (FD) interest rates by up to 25 basis points (bps) for specific tenures on deposits under Rs 2 crore. These revised interest rates are effective from May 30, 2024.
After the revision, regular citizens can now avail of interest rates ranging from 3.25 per cent to 8 per cent, while senior citizens are offered rates between 3.75 per cent and 8.50 per cent. The highest interest rate of 8 per cent and 8.50 per cent is offered on tenure of 18 months.
Unity Small Finance Bank (SFB) has revised its interest rates on fixed deposits for amounts below Rs 2 crore. The latest FD interest rates are applicable from May 1, 2024, according to the Unity Small Finance Bank website.
On deposits with maturities ranging from 7 days to 10 years, the bank offers interest rates ranging from 4.50% to 9% for general citizens The highest interest rate of 9% on tenure of 1001 Days. Unity Bank offers an interest rate of 8.95% to senior citizens on tenure of 701 days.
IndusInd Bank has revised the interest rates on fixed deposits (FDs) under Rs 2 crore. The new rates came into effect on May 27, 2024, according to the bank's official website.
The bank offers a fixed deposit interest rate between 3.50% and 7.99% for general citizens for FD tenures ranging from 7 days to 10 years. The highest interest rate of 7.99% is offered on FDs maturing between 15 months and 16 months. FDs maturing between 30 months and 31 months will also fetch an interest rate of 7.99%.
DCB Bank has revised its fixed deposit interest rates (for amounts below Rs 2 crore). According to the DCB Bank website, the new rates are effective May 22, 2024.
The bank is offering the highest FD interest rate of 8% to general customers and 8.55% for senior citizens after the revision in tenure from 19 months to 20 months. The highest savings account interest rate offered is up to 8%.
IDFC FIRST Bank has revised fixed deposit interest rates on amounts less than Rs 2 crore. The new FD interest rates are effective May 15, 2024
Following the change, the bank currently offers interest rates ranging from 3% to 7.90% on deposits maturing in 7 days to 10 years for general citizens. For senior citizens, the bank offers an additional spread of 0.50% p.a. over the above rate, interest rate varies from 3.50% to 8.40%. The highest interest rate of 8% and 8.40% is offered on tenure of 500 days.
The State Bank of India (SBI) has raised its fixed deposit interest rates for certain time periods on retail deposits (up to Rs 2 crore) and bulk deposits (above Rs 2 crore). The new FD rates are effective from May 15, 2024, as stated on the SBI website.
Utkarsh Small Finance Bank revised its fixed deposit interest rates for amounts below Rs 2 crore. The revised rates are effective from May 1, 2024. After the revision, the bank offers an interest rate between 4 percent and 8.50 percent for general citizens. For senior citizens, the bank offers an interest rate between 4.60 percent and 9.10 percent. The highest interest rate of 8.50 percent and 9.10 percent is offered on tenures of 2 years to 3 years.
The RBL Bank has revised fixed deposit interest rates for amounts below Rs 2 crore. The revised FD interest rates are effective from May 1, 2024.
RBL Bank offers the highest interest rate of 8% on FDs maturing between 18 and 24 months. On the same FD tenure, the senior citizen will earn 0.50% extra i.e., 8.50%, and super senior citizens (80 years and above) are eligible for an additional interest rate of 0.75% i,e., 8.75%.
Capital Small Finance Bank has revised fixed deposit interest rates for amounts below Rs 2 crore. The revised FD interest rates are effective from May 6, 2024. The bank offers general citizens an interest rate between 3.5 percent and 7.55 percent. The bank offers an interest rate between 4 percent and 8.05 percent for senior citizens. The highest interest rate is offered on the tenure of 400 days.
City Union Bank has revised fixed deposit interest rates for amounts below Rs 2 crore. The revised FD interest rates are effective from May 6, 2024. The bank offers an interest rate between 5 percent and 7.25 percent for general citizens and between 5 percent and 7.75 percent for senior citizens. The highest interest rate of 7.25 percent and 7.75 percent is offered on the tenure of 400 days.
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