Bank FD Rate: Some banks have also extended the last date of their special FD. During this period, PNB, BOB, Federal Bank and IDBI Bank have changed the interest rates of their FDs in January 2024.
Bank FD Interest Rates: Since the beginning of the new year, many banks have changed their FD interest rates. Apart from this, some banks have also extended the last date of their special FD. During this period, PNB, BOB, Federal Bank and IDBI Bank have changed the interest rates of their FDs in January 2024. Let us know which banks have increased the interest rates in January 2024?
PNB
Punjab National Bank (PNB) has changed the interest rate on FD twice in January. The bank increased the rate by 80 basis points on the same tenure. The bank increased the interest rate on 300 day FD by 80 bps from 6.25% to 7.05% for general customers. Senior citizens are being given 7.55% interest and super senior citizens are being given 7.85% interest. After the change, the bank is offering interest rates between 3.50% to 7.25% for regular customers. For senior citizens, the bank is offering interest between 4% to 7.75%.
Federal Bank
The interest rate for 500 days has been increased by Federal Bank to 7.75% and for senior citizens to 8.25%. Federal Bank is now giving a maximum return of 8.40% to senior citizens for a period of 500 days. The interest rate for non-withdrawable FDs for amounts between Rs 1 crore and Rs 2 crore has been increased to 7.90%. After the change, Federal Bank is offering FD interest rates between 3% to 7.75% for normal customers for tenures ranging from 7 days to 10 years. For senior citizens, the bank offers interest rates between 3.50% to 8.25%.
IDBI Bank
IDBI Bank has also changed the interest rate on FD. After the change, the bank is offering FD interest rates between 3% to 7% for normal customers for tenures ranging from 7 days to 10 years. For senior citizens, the bank gives interest between 3.50% to 7.50%. These rates have been implemented from January 17, 2024.
Bank of Baroda
Bank of Baroda has launched a special short term FD with a new maturity period. In this, customers get higher interest rates. The new rates are applicable for deposits of less than Rs 2 crore and have been made effective from January 15, 2024. The bank has offered a new maturity FD named 360D (bob360), which gives an interest of 7.10% to the general citizens. Apart from this, it offers 7.60% interest rate to senior citizens. After the change, the bank is giving interest between 4.45% to 7.25% to normal customers for a period ranging from 7 days to 10 years. Senior citizens are being offered 50 basis points higher interest rates.
