Among all bank categories, small finance banks are offering the highest interest on fixed deposits (FDs). If we talk about private sector banks, DCB Bank offers the best FD interest rates, and among the public sector banks, Punjab & Sind Bank are giving the best returns on term deposits. Seniors usually get an additional interest rate of 50 bps or more over the regular fixed deposit rates.
Here is a list of banks that offer the highest FD rates
Unity Small Finance Bank latest FD interest rates
For regular consumers, it offers interest rates between 4.5% to 9%. Seniors get an interest rate of 4.5% to 9.5% on deposits that mature in seven days to ten years. The deposit interest rate has been revised from 9 October 2023. The highest interest rate of 9% is offered for a tenure of 1001 days.
Suryoday Small Finance Bank provides fixed deposit interest rates between 4% and 8.6% to general customers on deposits maturing in seven days to ten years. Seniors will receive an interest rate of 4.5% to 9.1% on deposits that mature in seven days to ten years. The highest interest rate of 8.60% is offered for over 2 years to 3 years These rates are applicable from 7 August 2023.
Latest DCB Bank FD interest rates
DCB Bank offers 3.75% to 7.9% to general customers, and 4.25% to 8.50% to senior citizens. These rates apply from 27 September 2023.
While general customers get 3.50% to 7.80% interest on fixed deposits, senior citizens get between 4% and 8.30% on term deposits. These rates are effective from 16 October 2023
Latest IDFC First Bank FD interest rates
IDFC First Bank offers interest rates between 3.50% and 7.75% on fixed deposits for general customers. On the other hand, for senior citizens, the bank offers interest rates of 4 to 8.25%. The highest interest rate of 7.75% is offered on deposits maturing in 549 days to two years
Punjab & Sind Bank latest FD interest rates
General customers get 2.8% to 7.40% interest. The highest interest rate is offered on term deposits maturing in 444 Days. These rates apply from 1 October 2023
The country’s largest public sector bank offers interest rates between 3% and 7.10% to all customers. The interest rate for seniors varies between 3.5% and 7.6%. These rates were last revised on 15 February 2023.
Latest FD interest rates of ICICI Bank
The private sector lender offers interest rates between 3% and 7.1% on BDs to all customers. On the other hand, senior citizens get interest rates of 3.50% to 7.65% on FDs of various tenures with effect from October 16.
Latest HDFC Bank FD interest rates
HDFC bank FDs come with an interest rate of 3% to 7.20% for various tenures. On the other hand, seniors get interest rates between 3.5% and 7.75%. These rates are applicable from 1 October 2023.
All the above rates are obtained from respective bank websites.
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Updated: 03 November 2023, 12:32 PM IST
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