Fixed Deposit Intesrest Rate: October has seen a significant shift in the banking sector of India. Several banks have revised their Fixed Deposit (FD) interest rates, benefitting both ordinary and senior citizens. This has spurred a wave of interest among depositors, looking to capitalize on these newfound rates.
Unity Bank FD Intesrest Rate has made a notable move by increasing its interest rates for a 701-day FD. The bank now offers a generous 9.45% interest for senior citizens. For an annual investment spanning 701 days, other customers can expect a return at an interest rate of 8.95%.
Canara Bank FD Intesrest Rate also joined the roster by revising its FD rates from October 5. Senior citizens can now enjoy an interest rate up to 7.75%. Following suit, YES Bank, as of October 4, offers senior citizens an FD interest rate of up to 8%.
Karnataka Bank FD Intesrest Rate and IndusInd Bank have both made their own revisions. From October 1, they are offering senior citizens an FD interest rate of 7.75% and 8.25% respectively. IDFC First Bank, too, hasn’t stayed behind; starting from the same date, senior citizens can avail of an FD interest rate up to 8%.
Bank of India FD Intesrest Rate has also made changes, providing senior citizens with an FD interest rate up to 7.75% starting from October 1. Bank of Baroda has introduced a unique adjustment by increasing the interest rate on term deposits by 0.50%. Now, senior citizens can get an interest rate up to 7.9% for FDs spanning from 2 to 3 years. Furthermore, under the Bank of Baroda’s Tricolor Plus Deposit Scheme, senior citizens are offered a 7.8% interest for a 399-day fixed deposit.
Lastly, Bank of Maharashtra FD Intesrest Rate has also made adjustments to its interest rates, reflecting the dynamic nature of the current banking sector.
This month has certainly proven beneficial for those looking to invest in FDs, especially senior citizens, as banks strive to offer competitive rates in a constantly evolving financial landscape.
