The Reserve Bank of India decided to cut the repo rate in the monetary policy meeting in the first week of February after 5 years. After this, City Union Bank, DCB Bank and Karnataka Bank have reduced FD interest rates. Let us know in detail about their revised interest rates.
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New Delhi: In the month of February, many banks have revised the annual interest rates on their fixed deposit schemes. This step has been taken by the banks after the RBI cut the repo rate by 25 basis points. However, some banks are also offering interest rates up to 9.10% for senior citizens. Actually, the Reserve Bank of India decided to cut the repo rate in the monetary policy meeting in the first week of February after 5 years. These include City Union Bank, DCB Bank and Karnataka Bank. Let us know in detail about their revised interest rates.
City Union Bank FD Rates
City Union Bank has revised its FD interest rates on deposits less than Rs 3 crore. Now the bank is offering interest rates ranging from 5% to 7.50% to general citizens for a period of 7 days to 10 years. At the same time, this rate is from 5% to 8% for senior citizens.
The bank is offering the highest interest on FDs of 333 days. For general customers, 333-day FDs are getting 7.50% interest rate and for senior citizens, 8% interest rate. These rates are effective from 10 February 2025.
DCB Bank’s latest interest rates on FDs
DCB Bank has also cut interest rates on deposits up to Rs 3 crore, but this cut has been made only for certain periods. Now, DCB Bank is offering interest rates ranging from 3.75% to 8.05% on FDs ranging from 7 days to 10 years. The highest return is being given at 8.05% on FDs ranging from 19 months to 20 months. At the same time, senior citizens are getting 8.55% interest rate on this period. These rates are applicable from 14 February 2025.
Karnataka Bank Latest FD Rates
Apart from this, Karnataka Bank has also revised its FD interest rates on deposits up to Rs 3 crore. Now, the bank is offering interest rates ranging from 3.50% to 7.50% on FDs ranging from 7 days to 10 years to general citizens. Senior citizens are getting interest ranging from 3.75% to 8% for the same period.
The bank is giving the highest return on FD of 401 days. On this, general citizens are getting a return of 7.50% and senior citizens are getting a return of 8%. These rates are applicable from 18 February 2025.
