2024-01-21 06:10:31
Our FD Interest Rates: Since the beginning of the new year, many banks have changed their FD interest rates. Apart from this, some banks have also extended the last date for their special FD. During this period, PNB, BOB, Federal Bank and IDBI Bank have changed the interest rates of their FDs in January 2024. Which Banks Have Raised Interest Rate in January 2024
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PNB (Punjab National Bank):
Punjab National Bank (PNB) has changed the interest rate on FD twice in January. In the same period, the bank increased interest rates by 80 basis points. The bank hiked the interest rate on 300-day FD for general customers by 80 bps from 6.25% to 7.05%. 7.55% interest for senior citizens and 7.85% for senior citizens. After the switch, the bank offers interest rates ranging from 3.50% to 7.25% to regular customers. For senior citizens, the bank offers interest ranging from 4% to 7.75%.
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Federal Bank:
Federal Bank has raised the interest rate for 500 days to 7.75% and for senior citizens to 8.25%. Federal Bank is now offering a maximum return of 8.40% for 500 days to senior citizens. The interest rate on non-refundable FTs of Rs 1 crore to Rs 2 crore has been raised to 7.90%. After the transition, Federal Bank offers FD interest rates ranging from 3% to 7.75% to ordinary customers for tenures ranging from 7 days to 10 years. For senior citizens, the bank offers interest rates ranging from 3.50% to 8.25%.
IDBI Bank:
IDBI Bank has also changed the interest rate on FD. After the conversion, the bank offers FD interest rates of 3% to 7% for tenures ranging from 7 days to 10 years to normal customers. For senior citizens, the bank offers interest ranging from 3.50% to 7.50%. These rates are effective from January 17, 2024.
Bank of Baroda – Bank of Baroda:
Bank of Baroda has launched a special short term FD with a new maturity period. In this, customers get higher interest. The new rates are Rs. Applicable to deposits below Rs 2 crore and effective from January 15, 2024. The bank has launched a new maturity FD named 360D (bob360) which offers 7.10% interest to general citizens. Apart from this, it offers an interest rate of 7.60% to senior citizens. After the conversion, the bank will offer 4.45% to 7.25% interest for normal customers for a period of 7 days to 10 years. Senior citizens are offered 50 basis points higher interest rates.
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