Many banks have altered the interest rates on FD as of right now, which is July 1, 2024. These adjustments have been made by banks for FDs up to Rs 3 crore. Tell us which banks’ FD rates have changed the most, and where making FD will be most advantageous.
Axis Bank
Axis Bank’s website states that as of July 1, 2024, the bank has changed the interest rates on fixed-rate notes. Senior adults can get the highest interest rate of 7.75% on FDs with a duration of five to ten years from Axis Bank. In the meantime, 7.2% is the maximum interest rate that other people have on FDs with a duration of 17 to 18 months.
Bank of Ujjivan Small Finance
The interest rates on FD have also been updated by Ujjivan Small Finance Bank as of July 1, 2024. Seniors can get a 12-month fixed deposit account (FD) with 8.75% interest from Ujjivan Small Finance Bank. Meanwhile, the maximum interest rate available to other people is 8.25% on a 12-month fixed deposit.
ICICI Bank
Additionally, starting on July 1, 2024, ICICI Bank has changed the interest rates on FDs. For elderly adults, ICICI Bank offers FDs with terms ranging from 15 to 18 months at an interest rate of 7.75%. On FDs with terms ranging from 15 months to 2 years, the greatest interest rate for other people is up to 7.2% at the same time.
Indian Bank
The interest rates on FD have been modified by the Bank of India as of June 30, 2024. Bank of India is offering the highest interest rate of 7.80% for senior citizens for 666 days. At the same time, other individuals will pay a maximum of 7.3% interest on FD for the same number of days.
Punjab and Sind Bank
The interest rates on FD have been modified by Punjab and Sind Bank as of July 1, 2024. For FDs of 666 days, Punjab and Sind Bank is paying older folks 7.80% interest. Simultaneously, FD will provide a maximum interest rate of up to 7.3% for other individuals for the same duration.
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