Interest Rates Update: These 4 banks made big changes in FD interest rates, and senior citizens will get benefit..
Whenever there is talk of savings, the name of fixed deposit (FD) comes up. Your investment in Fixed Deposit Interest Rate is safe, and you also get guaranteed returns. If you also want to invest in FD then this is useful news for you.
In May 2024, many banks including Utkarsh Small Finance Bank, City Union Bank, RBL Bank, and Capital Small Finance Bank revised their FD interest rates. Here is the list of revised FD rates in May.
Utkarsh Small Finance Bank
Utkarsh Small Finance Bank has revised its FD interest rates for amounts less than Rs 2 crore. The revised rates are effective from May 1, 2024. After the amendment, the bank is providing interest rates between 4 percent to 8.50 percent for general citizens, while for senior citizens the bank is providing interest rates between 4.60 percent to 9.10 percent. The highest interest rate of 8.50 percent is being offered to general citizens and 9.10 percent to senior citizens for a tenure of 2 years to 3 years.
City Union Bank
City Union Bank has revised FD interest rates for amounts less than Rs 2 crore. The revised FD interest rates are effective from May 6, 2024. The bank is offering interest rates between 5 percent to 7.25 percent for general citizens and between 5 percent to 7.75 percent for senior citizens. The highest interest rate of 7.25 percent is being offered to general citizens and 7.75 percent to senior citizens on a tenure of 400 days.
RBL Bank
RBL Bank has revised FD interest rates for amounts less than Rs 2 crore. The revised FD interest rates are effective from May 1, 2024. RBL Bank offers the highest interest rate of 8 percent on FDs maturing between 18 to 24 months. On the same FD tenure, senior citizens will earn an additional interest rate of 0.50 percent i.e. 8.50 percent and super senior citizens (80 years and above) are eligible for an additional interest rate of 0.75 percent i.e. 8.75 percent.
Capital Small Finance Bank
Capital Small Finance Bank has revised FD interest rates for amounts less than Rs 2 crore. The revised rates are effective from May 6, 2024. The bank is providing interest rates between 3.5 percent to 7.55 percent to common citizens. The bank is providing interest rates between 4 percent to 8.05 percent for senior citizens. The highest interest rate is being given on a period of 400 days.
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