 "Up to 8.75%: These 4 banks hike FD interest rates; all you need to know")
Starting from July 1, 2024, several banks have revised their fixed deposit (FD) interest rates for amounts below Rs 3 crore. Ujjivan Small Finance Bank offers the highest rates at 8.75% for senior citizens and 8.25% for others. Axis, ICICI, Punjab and Sindh, and Bank of India also offer competitive rates.
Here's a quick look at the updated rates to help you find the best option for your savings:
Axis Bank FD rates
Axis Bank has adjusted its FD interest rates from July 1, 2024. For deposits up to Rs 3 crore, senior citizens can earn the highest rate of 7.75% for tenures between 5 to 10 years. For others, the peak rate is 7.2% for tenures of 17 to 18 months.
Ujjivan Small Finance Bank FD rates
Effective July 1, 2024, Ujjivan Small Finance Bank has also revised its FD rates. The bank offers senior citizens a top rate of 8.75% for a 12-month tenure. For general customers, the highest rate is 8.25% for the same 12-month period.
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Here are the revised fixed deposit interest rates for Ujjivan Small Finance Bank, effective from July 1, 2024:
Tenure: 7 days to 29 days
Interest rate (p.a.): 3.75%
Tenure: 30 days to 89 days
Interest rate (p.a.): 4.25%
Tenure: 90 days to 179 days
Interest rate (p.a.): 4.75%
Tenure: 6 months to < 12 months
Interest rate (p.a.): 7.00%
Tenure: 12 months
Interest rate (p.a.): 8.25%
Tenure: 12 months 1 day to 560 days (80 weeks)
Interest rate (p.a.): 8.00%
Tenure: 561 days to 990 days
Interest rate (p.a.): 7.75%
Tenure: 991 days to 60 months
Interest rate (p.a.): 7.20%
Tenure: 60 months 1 day to 120 months
Interest rate (p.a.): 6.50%
Additional Interest rate for senior citizens: 0.50%
IICIC Bank FD rates
ICICI Bank has updated its FD rates from July 1, 2024. For deposits up to Rs 3 crore, senior citizens can get up to 7.75% for tenures between 15 to 18 months. For other customers, the highest rate is 7.2% for tenures from 15 months to 2 years.
Here are the revised fixed deposit interest rates for ICICI Bank, effective from July 1, 2024:
Tenure: 7 to 14 Days
General citizen: 3.00%
Senior citizen: 3.50%
Tenure: 15 to 29 Days
General citizen: 3.00%
Senior citizen: 3.50%
Tenure: 30 to 45 Days
General citizen: 3.50%
Senior citizen: 4.00%
Tenure: 46 to 60 Days
General citizen: 4.25%
Senior citizen: 4.75%
Tenure: 61 to 90 Days
General citizen: 4.50%
Senior citizen: 5%
Tenure: 91 to 120 Days
General citizen: 4.75%
Senior citizen: 5.25%
Tenure: 121 to 150 Days
General citizen: 4.75%
Senior citizen: 5.25%
Tenure: 151 to 184 Days
General citizen: 4.75%
Senior citizen: 5.25%
Tenure: 185 to 210 Days
General citizen: 5.75%
Senior citizen: 6.25%
Tenure: 211 to 240 Days
General citizen: 5.75%
Senior citizen: 6.25%
Tenure: 241 to 270 Days
General citizen: 5.75%
Senior citizen: 6.25%
Tenure: 271 Days to 300 Days
General citizen: 6.00%
Senior citizen: 6.50%
Tenure: 301 Days to 330 Days
General citizen: 6.00%
Senior citizen: 6.50%
Tenure: 331 Days to < 1 Year
General citizen: 6%
Senior citizen: 6.50%
Tenure: 1 Year to 389 Days
General citizen: 6.70%
Senior citizen: 7.20%
Tenure: 390 Days to < 15 Months
General citizen: 6.70%
Senior citizen: 7.20%
Tenure: 15 Months to < 18 Months
General citizen: 7.20%
Senior citizen: 7.75%
Tenure: 18 Months to 2 Years
General citizen: 7.20%
Senior citizen: 7.70%
Tenure: 2 Years 1 Day to 3 Years
General citizen: 7.00%
Senior citizen: 7.50%
Tenure: 3 Years 1 Day to 5 Years
General citizen: 7%
Senior citizen: 7.50%
Tenure: 5 Years 1 Day to 7 Years
General citizen: 6.90%
Senior citizen: 7.40%
Tenure: 7 Years 1 Day to 10 Years
General citizen: 6.90%
Senior citizen: 7.40%
Tenure: 5 Years (Tax Saver FD)
General citizen: 7.00%
Senior citizen: 7.50%
Punjab and Sindh Bank FD rates
From July 1, 2024, Punjab and Sindh Bank has revised its FD rates. The highest rate for senior citizens is 7.80% for a tenure of 666 days. For other individuals, the top rate is 7.3% for the same period.
Here are the revised fixed deposit interest rates for Punjab and Sindh Bank, effective from July 1, 2024:
Tenure: 7 - 14 Days
Interest rate (p.a.): 2.80%
Tenure: 15 - 30 Days
Interest rate (p.a.): 2.80%
Tenure: 31 - 45 Days
Interest rate (p.a.): 3.00%
Tenure: 46 - 90 Days
Interest rate (p.a.): 4.25%
Tenure: 91 - 120 Days
Interest rate (p.a.): 4.25%
Tenure: 121 - 150 Days
Interest rate (p.a.): 4.75%
Tenure: 151 - 179 Days
Interest rate (p.a.): 4.75%
Tenure: 180 – 221 Days
Interest rate (p.a.): 5.25%
Tenure: 222 Days
Interest rate (p.a.): 6.30%
Tenure: 223 – 269 Days
Interest rate (p.a.): 5.25%
Tenure: 270 – 332 Days
Interest rate (p.a.): 5.50%
Tenure: 333 Days
Interest rate (p.a.): 7.15%
Tenure: 334 - <1 Year
Interest rate (p.a.): 5.50%
Tenure: 1 Year
Interest rate (p.a.): 6.30%
Tenure: >1 Years - 443 Days
Interest rate (p.a.): 6.00%
Tenure: 444 Days
Interest rate (p.a.): 7.25%
Tenure: 445 Days - 665 Days
Interest rate (p.a.): 6.00%
Tenure: 666 Days
Interest rate (p.a.): 7.30%
Tenure: 667 Days - 2 Years
Interest rate (p.a.): 6.00%
Tenure: Above 2 Years - <998 Days
Interest rate (p.a.): 6.30%
Tenure: 999 Days
Interest rate (p.a.): 6.65%
Tenure: 1000 Days - <3 Years
Interest rate (p.a.): 6.30%
Tenure: 3 Years - 5 Years
Interest rate (p.a.): 6.00%
Tenure: >5 Years - 10 Years
Interest rate (p.a.): 6.25%
Bank of India FD rates
Bank of India has updated its FD rates effective from June 30, 2024. Senior citizens can earn up to 7.80% for a 666-day tenure, while others can get a maximum of 7.3% for the same duration.
Here are the revised fixed deposit interest rates for Bank of India, effective from June 30, 2024:
Tenure: 7 days to 14 days
Interest rate (p.a.): 3.00%
Tenure: 15 days to 30 days
Interest rate (p.a.): 3.00%
Tenure: 31 days to 45 days
Interest rate (p.a.): 3.00%
Tenure: 46 days to 90 days
Interest rate (p.a.): 4.50%
Tenure: 91 days to 179 days
Interest rate (p.a.): 4.50%
Tenure: 180 days to 210 days
Interest rate (p.a.): 5.50%
Tenure: 211 days to 269 days
Interest rate (p.a.): 5.50%
Tenure: 270 days to less than 1 year
Interest rate (p.a.): 5.75%
Tenure: 1 Year
Interest rate (p.a.): 6.80%
Tenure: Above 1 Year to less than 2 Years (except 666 Days)
Interest rate (p.a.): 6.80%
Tenure: 666 Days
Interest rate (p.a.): 7.30%
Tenure: 2 Years
Interest rate (p.a.): 6.80%
Tenure: Above 2 Years to less than 3 Years
Interest rate (p.a.): 6.75%
Tenure: 3 Years to less than 5 Years
Interest rate (p.a.): 6.50%
Tenure: 5 Years to less than 8 Years
Interest rate (p.a.): 6.00%
Tenure: 8 Years & above to 10 Years
Interest rate (p.a.): 6.00%