Banks offer up to 9% interest on FDs; check detailed rates of various banks

Fixed deposit rates are directly affected by the change in repo rate. Small finance, private, public, and foreign banks hike fixed deposit rates up to 9% annually, providing lucrative options for save

In August 2024, following the Reserve Bank of India’s Monetary Policy Committee (MPC) meeting, some banks revised their fixed deposit (FD) interest rates to attract more customers. With the repo rate staying at 6.5 per cent, banks are offering competitive rates, particularly for senior citizens.

This shift presents a good opportunity for savers to maximise their returns on fixed deposits. Here’s a summary of the latest FD interest rates from various banks.

Small Finance Banks

Unity Small Finance Bank is offering fixed deposit interest rates between 7.85 per cent and 9 per cent per annum, with tenures ranging from 1 year to 5 years.

 

NorthEast Small Finance Bank is offering fixed deposit interest rates between 6.25 per cent and 9.00 per cent per annum, with tenures ranging from 1 year to 5 years.

 

Suryoday Small Finance Bank is offering fixed deposit interest rates between 6.85 per cent and 8.65 per cent per annum, with tenures ranging from 1 year to 5 years.

 

Utkarsh Small Finance Bank is offering fixed deposit interest rates between 7.75 per cent and 8.50 per cent per annum, with tenures ranging from 1 year to 5 years.

 

Equitas Small Finance Bank is offering fixed deposit interest rates between 7.25 per cent and 8.50 per cent per annum, with tenures ranging from 1 year to 5 years.

 

AU Small Finance Bank is offering fixed deposit interest rates between 7.25 per cent and 8.00 per cent per annum, with tenures ranging from 1 year to 5 years.

 

Here is a list curated on FD rates offered by Small Finance Banks, according to Paisabazaar.com

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Private Sector Banks

 

YES Bank is offering fixed deposit interest rates between 7.25 per cent and 8.00 per cent per annum, with tenures of 18 months.

 

DCB Bank is offering fixed deposit interest rates between 7.10 per cent and 8.05 per cent per annum, with tenures ranging from 19 months to 20 months.

 

SBM Bank India is offering fixed deposit interest rates between 7.05 per cent and 8.25 per cent per annum, with tenures of 3 years 2 days.

 

IndusInd Bank is offering fixed deposit interest rates between 7.25 per cent and 7.75 per cent per annum, with tenures ranging from 1 year to 2 years.

 

Karur Vysya Bank is offering fixed deposit interest rates of 7.00 per cent and 7.60 per cent per annum, with tenures of 760 days for Special Deposit.

 

Tamilnad Mercantile Bank is offering fixed deposit interest rates between 6.50 per cent and 7.50 per cent per annum, with tenures of 400 days.

 

Here is a list curated on FD rates offered by Private Sector Banks, according to Paisabazaar.com

 

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Public Sector Banks

 

Union Bank of India is offering fixed deposit interest rates between 6.50 per cent and 7.40 per cent per annum, with tenures ranging from 1 year to 5 years.

 

State Bank of India is offering fixed deposit interest rates between 6.50 per cent and 7.25 per cent per annum, with tenures ranging from 1 year to 5 years.

 

Punjab & Sind Bank is offering fixed deposit interest rates between 6.00 per cent and 7.30 per cent per annum, with tenures ranging from 1 year to 5 years.

 

Punjab National Bank is offering fixed deposit interest rates between 6.50 per cent and 7.25 per cent per annum, with tenures ranging from 1 year to 5 years.

 

Indian Overseas Bank is offering fixed deposit interest rates between 6.50 per cent and 7.30 per cent per annum, with tenures ranging from 1 year to 5 years.

 

Bank of Baroda is offering fixed deposit interest rates between 6.50 per cent and 7.25 per cent per annum, with tenures ranging from 1 year to 5 years.

 

Here is a list curated on FD rates offered by Public Sector Bank, according to Paisabazaar.com

 

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Foreign Banks

 

Deutsche Bank is offering fixed deposit interest rates between 7.00 per cent and 8.00 per cent per annum, with tenures ranging from above 1 year to 3 years.

 

Standard Chartered Bank is offering fixed deposit interest rates between 6.75 per cent and 7.50 per cent per annum, with tenures ranging from 1 year to less than 3 years.

 

HSBC Bank is offering fixed deposit interest rates between 4.00 per cent and 7.50 per cent per annum, with tenures ranging from 601 to 699 days.

 

Here is a list curated on FD rates offered by Foreign Banks, according to Paisabazaar.com

 

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