Fixed Deposit: In May 2024, SBI, DCB Bank, IDFC First Bank, Utkarsh Small Finance Bank, RBL Bank, Capital Small Finance Bank and City Union Bank revised their FD interest rates. Read here complete information related to the offers of these banks.
Fixed Deposit: If you are planning to invest in fixed deposit i.e. FD, then this news is useful for you. In May 2024, 7 banks including State Bank of India (SBI), DCB Bank, IDFC First Bank revised their FD interest rates. Here is the list of revised FD rates in May.
DCB Bank
DCB Bank has revised its FD interest rates for amounts less than Rs 2 crore. According to the DCB Bank website, the new rates are effective from May 22, 2024. The bank is offering the highest FD interest rate of 8 per cent for general customers and 8.55 per cent for senior citizens after revision in the tenure from 19 months to 20 months.
IDFC FIRST Bank
IDFC First Bank has revised FD interest rates on amounts less than Rs 2 crore. The new rates are effective from May 15, 2024. After the change, the bank currently offers interest rates ranging from 3 percent to 7.90 percent for general citizens on deposits maturing in 7 days to 10 years. The bank provides 0.50 percent additional interest to senior citizens. The bank offers interest rates to senior citizens ranging from 3.50 percent to 8.40 percent. The highest interest rate offered to general citizens is 8 percent and to senior citizens is 8.40 percent on a tenure of 500 days.
SBI
SBI has increased its FD interest rates on retail deposits (up to Rs 2 crore) and bulk deposits (above Rs 2 crore) for a certain period. According to SBI website, the new FD rates are effective from May 15, 2024.
Utkarsh Small Finance Bank
Utkarsh Small Finance Bank has revised its FD interest rates for amounts less than Rs 2 crore. The revised rates are effective from May 1, 2024. After the amendment, the bank is providing interest rates between 4 percent to 8.50 percent for general citizens, while for senior citizens the bank is providing interest rates between 4.60 percent to 9.10 percent. The highest interest rate of 8.50 percent is being offered to general citizens and 9.10 percent to senior citizens for a tenure of 2 years to 3 years.
RBL Bank
RBL Bank has revised FD interest rates for amounts less than Rs 2 crore. The revised FD interest rates are effective from May 1, 2024. RBL Bank offers the highest interest rate of 8 percent on FDs maturing between 18 to 24 months. On the same FD tenure, senior citizens will earn an additional interest rate of 0.50 percent i.e. 8.50 percent and super senior citizens (80 years and above) are eligible for an additional interest rate of 0.75 percent i.e. 8.75 percent.
Capital Small Finance Bank
Capital Small Finance Bank has revised FD interest rates for amounts less than Rs 2 crore. The revised rates are effective from May 6, 2024. The bank is providing interest rates between 3.5 percent to 7.55 percent to common citizens. The bank is providing interest rates between 4 percent to 8.05 percent for senior citizens. The highest interest rate is being given on a period of 400 days.
City Union Bank
City Union Bank has revised FD interest rates for amounts less than Rs 2 crore. The revised FD interest rates are effective from May 6, 2024. The bank is offering interest rates between 5 percent to 7.25 percent for general citizens and between 5 percent to 7.75 percent for senior citizens. The highest interest rate of 7.25 percent is being offered to general citizens and 7.75 percent to senior citizens on a tenure of 400 days.
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