FD Interest Rates: Indian banks have recently increased interest rates on FDs less than Rs 3 crore. The new rates are effective from September 2024. Bank of India, City Union Bank, Bank of Baroda and Karnataka Bank have revised their FD rates. These banks are offering high interest rates of up to 8.1 percent to their customers. Let us know what interest rates these banks are offering on FDs to general citizens and senior citizens.
Bank of Baroda
Bank of Baroda has revised the interest rates of FDs for amounts less than Rs 3 crore. According to the Bank of Baroda website, the new rates are effective from September 5, 2024. After the revision, the bank is offering FD interest rates between 4.25% to 7.30% to general citizens for amounts less than Rs 3 crore for tenures ranging from 7 days to 10 years. For senior citizens, the bank is offering interest rates between 4.75% to 7.80%.
Bank of India
Bank of India has revised interest rates on its FDs for amounts less than Rs 3 crore and introduced a new special FD tenure with higher interest rates. The revised FD rates are effective from September 1, 2024. After the revision, the bank is offering interest rates between 3% to 7.25% to general citizens for FDs less than Rs 3 crore for tenures ranging from 7 days to 10 years. For senior citizens, the bank offers interest rates between 3% to 7.75%. For super senior citizens (above 80 years of age) the bank offers interest rates between 3% to 7.90%. Bank of India has launched new FDs named Star Dhan Vriddhi. It is a 333 days FD. It offers the highest interest rates of 7.25%, 7.75% and 7.90% for normal citizens, senior citizens and super senior citizens respectively.
Karnataka Bank
Karnataka Bank has revised its FD interest rates for amounts less than Rs 3 crore, effective from September 3, 2024. After the revision, the bank is offering interest rates between 3.50% to 7.50% to normal citizens. For senior citizens the bank offers interest rates between 3.75% to 8%. FDs with a tenure of 375 days are offered the highest interest rates of 7.50% and 8%.
City Union Bank
City Union Bank has revised its FD interest rates for amounts less than Rs 3 crore, effective from September 1, 2024. After the revision, the bank offers interest rates between 5% to 7.50% for general citizens and for senior citizens, the bank offers interest rates between 5% to 8%. The highest interest rates of 7.50% and 8% are offered on tenures of 333 days. For super senior citizens, the bank offers the highest interest rate of 8.10%.