Bank FD Rates: People generally rely more on public sector banks for fixed deposits, which typically pay interest rates between 6.5% and 7% on fixed deposits. Given the rising inflation, this interest rate can sometimes seem low. Customers investing in fixed deposits have received significant news regarding changes in FD interest rates at prominent banks. The latest updates include:

– Senior citizens can now earn up to 7.25% annual interest at HDFC Bank, Axis Bank, and Federal Bank.

– State Bank of India has reduced its bulk FD rates, impacting potential earnings for investors.

– Axis Bank offers the highest interest rate of 7.25% for senior citizens.

– HDFC Bank raised interest rates by 10 basis points for select FDs for senior citizens.

– Federal Bank introduced revised FD rates, offering attractive returns on 48-month deposits.

– SBI decreased interest rates on bulk term deposits of Rs 3 crore and above.

Investors, particularly senior citizens, can consider Axis Bank (7.25%), Federal Bank (7.20%), and HDFC Bank (7.10%) for secure returns through fixed deposits. It’s advisable to select a suitable tenure before making any investment decisions.

Top small finance banks offering the highest interest rates on FDs

Suryoday Small Finance Bank- This bank is offering the highest interest rate of 8.25% to general customers and up to 8.50% to senior citizens on 5-year FD.

 

Shivalik Small Finance Bank- This bank is providing interest at the rate of 8.50% to senior citizens and 8.00% to general citizens for FDs with tenure of 23 months 1 day to 27 months.

 

Equitas Small Finance Bank- The bank is offering interest rates up to 8.50% for senior citizens and up to 8.00% for general citizens.

 

Jana Small Finance Bank- Here senior citizens are getting interest up to 8.30% and general citizens are getting interest up to 8.00% on FDs of 2 to 3 years.

 

Utkarsh Small Finance Bank- Here senior citizens are getting returns of 8.25% (up to 8.15% on certain tenures) and general citizens are getting returns of up to 8.10% on fixed deposits.

 

Unity Small Finance Bank- Unity Small Finance Bank is offering interest up to 8.00% for general citizens and up to 8.50% for senior citizens.