Let us tell you that at present the bank is offering interest rates between 3 percent to 7.75 percent for general citizens on deposits with maturity period ranging from seven days to 10 years.
Bank interest rates: Most investors turn to Fixed Deposit (FD) for secure and great returns. For some time now, banks have started giving great returns to investors on FD. In this episode, IDFC First Bank has also updated its FD interest rates for amounts less than Rs 3 crore. The revised rates are effective from October 16, 2024.
What is the interest rate
Let us tell you that currently the bank is giving interest rates between 3 percent to 7.75 percent on deposits with maturity period ranging from seven days to 10 years for general citizens. At the same time, for senior citizens, the bank works to give an additional 0.50 percent interest per annum as compared to general customers. In this way, the interest rate of FD is from 3.50 percent to 8.25 percent. In this, the highest interest rate of 8.25 percent is available for a period of 400 to 500 days. A penalty of 1 percent will be levied for early withdrawal of FD.
PNB Interest Rates
Punjab National Bank offers fixed deposit interest rates ranging from 3.50 per cent to 7.25 per cent for tenures ranging from 7 days to 10 years for general citizens. Senior citizens can avail interest rates between 4 per cent to 7.75 per cent, while super senior citizens can avail interest rates ranging from 4.30 per cent to 8.05 per cent. These rates are effective from October 1, 2024.
-Punjab & Sind Bank offers FD interest rates ranging from 2.80 per cent to 7.25 per cent for tenures ranging from 7 days to 10 years, applicable for general citizens. These rates are effective from October 1, 2024.
-Bank of Baroda offers fixed deposit interest rates ranging from 4.25 per cent to 7.15 per cent for tenures ranging from 7 days to 10 years for general citizens. Senior citizens can avail rates between 4.75 per cent to 7.60 per cent. These new rates are effective from October 3, 2024.
