Fixed deposits provide a reliable investment opportunity with interest rates that surpass those of standard savings accounts. Once an investor commits to a fixed deposit, the interest rate remains fixed for the entire term of the deposit. This predictability enables investors to accurately forecast their earnings and make well-informed financial decisions.
Several banks have adjusted their fixed deposit interest rates during the month of September, according to an ET report.
Bank of Baroda: Latest FD Rates
Bank of Baroda offers fixed deposit interest rates between 4.25% to 7.30% for general citizens for tenure ranging from 7 days to 10 years. For senior citizens, the bank offers an interest rate between 4.75% to 7.80%. The rates are applicable from September 5, 2024.
Tenors
| Residents / General Public
| Resident Indian Sr. Citizen
|
7 days to 14 days
| 4.25
| 4.75*
|
15 days to 45 days
| 4.5
| 5.00*
|
46 days to 90 days
| 5.5
| 6.00*
|
91 days to 180 days
| 5.6
| 6.10*
|
181 days to 210 days
| 5.75
| 6.25*
|
211 days to 270 days
| 6.25
| 6.75*
|
271 days & above and less than 1 year (except 333Days and 360 Days)
| 6.5
| 7.00*
|
333 Days (bob Monsoon Dhamaka Deposit Scheme)
| 7.15
| 7.65*
|
360 Days (bob360)
| 7.1
| 7.60*
|
1 year
| 6.85
| 7.35*
|
399 Days (bob Monsoon Dhamaka Plus Deposit Scheme)
| 7.3
| 7.80*
|
Above 1 year to 400 days (Except 399 Days)
| 7
| 7.50*
|
Above 400 days and upto 2 Years
| 7
| 7.50*
|
Above 2 Years and upto 3 Years
| 7.15
| 7.65*
|
Above 3 Years and upto 5 Years
| 6.5
| 7.15 #
|
Above 5 Years and upto 10 Years
| 6.5
| 7.50**
|
Above 10 years (MACT/MACAD
| 6.2
5
| 6.75*
|
Court Order schemes only)
|
Axis Bank: Latest FD Rates
Axis Bank offers fixed deposit interest rates between 3% to 7.25% for general citizens for tenure ranging from 7 days to 10 years. For senior citizens, the bank offers an interest rate between 3.5% to 7.75%. The rates are applicable from September 10, 2024.
IndusInd Bank: Latest FD Rates
IndusInd Bank offers fixed deposit interest rates between 3.5% to 7.99% for general citizens for tenure ranging from 7 days to 10 years. For senior citizens, the bank offers an interest rate between 4% to 8.25%. The rates are applicable from September 11, 2024.
< 3 Cr* DOMESTIC(RESIDENT) NRE/NRO deposits
| < 3 Cr* (Senior Citizen)
|
|
Tenure
| Rate
| Rate
|
7 days to 14 days
| 3.5
| 4
|
15 days to 30 days
| 3.5
| 4
|
31 days to 45 days
| 3.75
| 4.25
|
46 days to 60 days
| 4.75
| 5.25
|
61 days to 90 days
| 4.75
| 5.25
|
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
| 6.5
| 7
|
1 Year to below 1 Year 3 months
| 7.75
| 8.25
|
1 Year 3 months (15 months) to below 1 Year 4 months (16 months)
| 7.75
| 8.25
|
1 Year 4 months to below 1 Year 6 months
| 7.99
| 8.25
|
1 Year 6 Months up to 2 Years
| 7.75
| 8.25
|
Above 2 Years to below 2 Years 6 Month
| 7.25
| 7.75
|
2 years 6 Months (30 months) to below 2 years 7 months (31 months)
| 7.25
| 7.75
|
2 year 7 months to 3 years 3 months
| 7.25
| 7.75
|
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
|
Federal Bank: Latest FD Rates
Federal Bank offers fixed deposit interest rates between 3% to 7.40% for general citizens for tenure ranging from 7 days to 10 years. For senior citizens, the bank offers an interest rate between 3.5% to 7.90%. The rates are applicable from September 16, 2024.
Period
| Single Deposit Less than ₹300 Lakhs - General Public
| Single Deposit Less than ₹300 Lakhs - Senior Citizen
|
7 days to 29 days
| 3.00%
| 3.50%
|
30 days to 45 days
| 3.25%
| 3.75%
|
46 days to 60 days
| 4.00%
| 4.50%
|
61 days to 119 days
| 4.75%
| 5.25%
|
120 days to 180 days
| 5.00%
| 5.50%
|
181 days
| 6.50%
| 7.00%
|
182 days to less than 1 year
| 6.25%
| 6.75%
|
1 year to 399 days
| 6.80%
| 7.30%
|
400 days
| 7.35%
| 7.85%
|
401 days to 776 days
| 7.05%
| 7.55%
|
777 days
| 7.40%
| 7.90%
|
778 days to less than 3 years
| 7.05%
| 7.55%
|
3 years to less than 50 months
| 7.00%
| 7.50%
|
50 Months
| 7.40%
| 7.90%
|
Above 50 months to less than 5 years
| 7.00%
| 7.50%
|
5 years and above
| 6.60%
| 7.25%
|
Karnataka Bank: Latest FD Rates
Karnataka Bank offers fixed deposit interest rates between 3.5% to 7.50% for general citizens for tenure ranging from 7 days to 10 years. According to the bank website, "Resident senior citizens get extra 0.25% above general rate up to & inclusive of ?5 crore only under domestic FD and ACC Schemes (Not for deposit under NRE/NRO/FCNR(B) accounts) for a tenure of 7 days to below 1 years, and extra 0.50% above general rate for tenure 1 year to 10 years."
Maturity period
| Interest rate (% p.a.) for deposits below ₹ 3 crore
|
7 days to 45 days
| 3.5
|
46 days to 90 days
| 4
|
91 days to 179 days
| 5.25
|
180 days to below 1 year
| 6.25
|
250 days only
| 6.75
|
1 year to 2 years
| 7.35
|
375 days (FD & ACC)
| 7.5
|
Above 2 years to 5 years
| 6.5
|
Above 5 years to 10 years
| 5.8
|
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