FD interest rates: In June, several banks revised their fixed deposit interest rates. Fixed deposit interest rates are higher than the interest offered on savings or current account balances. see details here
Banks revising their fixed deposit interest rates in the month of June:
Unity Small Finance Bank (SFB)
Unity Small Finance Bank (SFB) has revised its interest rates on fixed deposits of less than Rs 2 crore. The new rates are applicable from June 14, 2023, according to the Unity Small Finance Bank website.
Unity offers interest rate between 4.50% to 9% to general citizens for amounts below Rs 2 crore. The highest interest rate of 9% is offered on 1001 days tenure.
| Tenure | General FD Rates | Senior Citizen FD Rates |
| % p.a. | % p.a. | |
| 7 – 14 Days | 4.50% | 4.50% |
| 15 – 45 Days | 4.75% | 4.75% |
| 46 – 60 Days | 5.25% | 5.75% |
| 61 – 90 Days | 5.50% | 6.00% |
| 91 – 164 Days | 5.75% | 6.25% |
| 165 Days – 6 Months | 5.75% | 6.25% |
| > 6 Months – 201 Days | 8.75% | 9.25% |
| 202 – 364 Days | 6.75% | 7.25% |
| 1 Year | 7.35% | 7.85% |
| 1 Year 1 day | 7.35% | 7.85% |
| > 1Year 1 day – 500 days | 7.35% | 7.85% |
| 501 Days | 8.75% | 9.25% |
| 502 Days – 18 Months | 7.35% | 7.85% |
| > 18 Months – 1000 Days | 7.40% | 7.90% |
| 1001 Days | 9.00% | 9.50% |
| 1002 Days – 3 Year | 7.65% | 8.15% |
| > 3 Year – 5 Year | 8.25% | 8.75% |
| > 5 Year – 10 Year | 7.00% | 7.50% |
IDBI Bank
IDBI Bank has revised its fixed deposit (FD) interest rates for amounts below Rs 2 crore. The new interest rates have been effective from June 14, 2023.
IDBI Bank offers interest rate between 3.5% to 6.80% for general citizens on regular deposits below Rs 2 crore. Under Amrit Mahotsav FD, the bank offers higher interest rate of 7.15%.
| Maturity Slab | ||
| General Customers | Sr. Citizen | |
| 0-6 Days | NA | NA |
| 07-30 days | 3 | 3.5 |
| 31-45 days | 3.25 | 3.75 |
| 46- 90 days | 4 | 4.5 |
| 91-6 months | 4.5 | 5 |
| 6 months 1 day to < 1 year | 5.75 | 6.25 |
| 1 Year to 2 Years | 6.8 | 7.3 |
| (except 444 Days Days) | ||
| > 2 Years to 5years | 6.5 | 7.00 |
| > 5 years to 10 years | 6.25 | 6.75 |
| >10 years to 20 years$ | 4.8 | 5.30 |
| Tax Saving FD | ||
| 5 years | 6.5 | 7 |
IndusInd Bank
IndusInd Banks offers interest rate between 3.50% to 7.75% to general citizens for amounts below Rs 2 crore. The highest interest rate of 7.75% is offered on tenure of 1 year 6 month up to 2 Years. The new rates are effective from June 2, 2023
| Tenure | Regular citizens | Senior Citizens |
| Tenure | Rate | Rate |
| 7 days to 14 days | 3.5 | 4 |
| 15 days to 30 days | 3.5 | 4 |
| 31 days to 45 days | 4 | 4.5 |
| 46 days to 60 days | 4.5 | 5 |
| 61 days to 90 days | 4.6 | 5.1 |
| 91 days to 120 days | 4.75 | 5.25 |
| 121 days to 180 days | 5 | 5.5 |
| 181 days to 210 days | 5.85 | 6.35 |
| 211 days to 269 days | 6.1 | 6.6 |
| 270 days to 354 days | 6.35 | 6.85 |
| 355 days to 364 days | 6.35 | 6.85 |
| 1 Year to below 1 Year 6 Months | 7.75 | 8.25 |
| 1 Year 6 Months to below 1 Year 7 Months | 7.75 | 8.25 |
| 1 Year 7 months up to 2 Years | 7.75 | 8.25 |
| Above 2 Years up to 2 Years 1 Month | 7.5 | 8 |
| Above 2 Years 1 Month to below 2 years 6 Months | 7.5 | 8 |
| 2 years 6 Months to below 2 years 9 Months | 7.5 | 8 |
| 2 years 9 Months to 3 years 3 months | 7.5 | 8 |
| Above 3 years 3 months to below 61 month | 7.25 | 7.75 |
| 61 month and above | 7 | 7.5 |
| Indus Tax Saver Scheme (5 years) | 7.25 | 7.75 |
RBL Bank
RBL Bank offers an interest rate between 3.50% to 7.80% for regular citizens for deposits below Rs 2 crore. RBL Bank has revised its fixed deposit interest rates effective from June 1, 2023. The highest interest rate of 7.80% is offered on tenure of 15 months to less than 24 months.
| Period of Deposit | Domestic & Flexi FD Interest Rates p.a. | Senior Citizen Interest Rates p.a. |
| 7 days to 14 days | 3.50% | 4.00% |
| 15 days to 45 days | 4.00% | 4.50% |
| 46 days to 90 days | 4.50% | 5.00% |
| 91 days to 180 days | 4.75% | 5.25% |
| 181 days to 240 days | 5.50% | 6.00% |
| 241 days to 364 days | 6.05% | 6.55% |
| 365 to 452 days (12 months to less than 15 months) | 7.00% | 7.50% |
| 453 days to less than 24 months (15 months to less than 24 months) | 7.80% | 8.30% |
| 24 months < 36 months | 7.50% | 8.00% |
| 36 months to 60 months 1 day | 7.10% | 7.60% |
| 60 months 2 days to 240 months | 7.00% | 7.50% |
Karur Vyas Bank
Karur Vyas Bank offers an interest rate between 4% to 7.30% for regular citizens for deposits below Rs 2 crore. The has revised its fixed deposit interest rates effective from June 15, 2023. The highest interest rate of 7.30% is offered on tenure of 444 days.
| Time Bucket | Revised Rate (Less than Rs. 2 Crores) (w.e.f. 15.06.2023) |
| 7 Days to 14 days | 4.00% |
| 15 Days to 30 days | 4.00% |
| 31 Days to 45 days | 5.25% |
| 46 Days to 90 days | 5.25% |
| 91 Days to 120 days | 6.00% |
| 121 Days to 180 days | 6.00% |
| 181 Days to 270 days | 6.25% |
| 271 Days to less than 1 year | 6.50% |
| 1 Year to 443 days | 7.00% |
| 444 Days | 7.30% |
| 445 Days upto 2 years | 7.00% |
| Above 2 years upto 3 years | 7.00% |
| Above 3 years upto 5 years | 6.25% |
| Above 5 years upto 6 years | 6.25% |
| Above 6 years | 6.25% |
| For KVB – Tax Shield Deposits | 5.90% |
