Last updated:
New Delhi. In December 2024, many banks have changed the interest rates of fixed deposits (FD). FD is one of the most popular investment options in India, in which people invest a large part of their savings. The reason for FD’s popularity is its fixed and guaranteed return rate.
1. Federal Bank
The Federal Bank has changed the interest rates on FDs of less than ₹ 3 crore. The new rates are applicable since 16 December 2024.
Interest rate for common citizens: 3% to 7.4%.
Interest Rate for Senior Citizens: 3.5% to 7.9%.
2. RBL Bank
RBL Bank has also revised the interest rates on FD of less than ₹ 3 crore. These rates are effective since 15 December 2024.
Interest Rate for General Citizens: 3.5% to 8%.
Interest Rate for Senior Citizens: 8.5%.
Interest Rate for Super Senior Citizens (80 years and more): 8.75%.
3. Karnataka Bank
Karnataka Bank has changed interest rates on FD less than ₹ 3 crore from 2 December 2024.
Interest rate for common citizens: 3.5% to 7.5%.
Interest Rate for Senior Citizens: 3.5% to 8%.
4. Bank of Maharashtra
Bank of Maharashtra has also changed interest rates at less than FD less than ₹ 3 crore from December 11, 2024. Interest Rate for Citizens: 2.75% to 7.35%.
Interest Rate for Senior Citizens: 2.75% to 7.85%.
5. Equitas Small Finance Bank
Equitas Small Finance Bank has revised the interest rates on FD from 2 December 2024.
Interest Rate for General Citizens: 3.5% to 8.25%.
Interest Rate for Senior Citizens: 2.75% to 9%.
On a period of 888 days, senior citizens will get an additional 0.25% interest.
