Since the new year began, many banks have revised their fixed deposit interest rates and some banks have extended their special fixed deposit last date. PNB, BoB, Federal Bank and IDBI bank have revised their fixed deposit interest rates in January 2024.
PNB
Punjab National Bank revised fixed deposits twice this month. Punjab National Bank raised FD interest rates for the second time in a month. This time, the bank increased rates by 80 basis points (bps) on a single tenure. The bank has hiked 80 bps on tenure of 300 days from 6.25% to 7.05% for general citizens, 7.55% for senior citizens, and 7.85% to super senior citizens.
After revision, the bank offers interest rates between 3.50% to 7.25% for regular citizens. For senior citizens, the bank offers between 4% to 7.75% and for super senior citizens, the bank offers between 4.30% to 8.05%.
Federal Bank
The interest rate for 500 days has been raised to 7.75% for residents and 8.25% for senior citizens, per a press statement from the Federal Bank. The Federal Bank is now providing resident senior citizens with a maximum return of 8.40% for 500-day tenures, while the interest rate for non-withdrawable fixed deposits has been raised to 7.90% for amounts between Rs 1 crore to Rs 2 crore.
Latest Federal Bank FD interest rates
Federal Bank after the revision offers fixed deposit interest rates between 3% to 7.75% for general citizens on tenure ranging from 7 days to 10 years. For senior citizens, the bank offers interest rate between 3.50% to 8.25%. The rates are effective from January 17, 2024.
IDBI Bank
IDBI Bank also revised FD interest rates . IDBI Bank after the revision offers fixed deposit interest rates between 3% to 7%( excluding special Utsav deposit) for general citizens on tenure ranging from 7 days to 10 years. For senior citizens, the bank offers interest rates between 3.50% to 7.50%. The rates are effective from January 17, 2024.
Bank of Baroda
Bank of Baroda has launched a new special short-term deposit product with a new maturity bucket that offers a higher interest rate. These rates are applicable on deposits below Rs 2 crore and effective from January 15, 2024.
The bank has introduced a new tenure dubbed as ‘360D (bob360)’ offering 7.10% and 7.60% interest rate to general citizens and senior citizens respectively.
Latest Bank of Baroda FD rates
After revision, the bank offers an interest rate between 4.45% to 7.25% for tenure ranging between 7 days to 10 years for general citizens. The bank offers an interest rate between 4.75% to 7.75% for tenure ranging between 7 days to 10 years for senior citizens.
