Most investors turn to fixed deposits (FD) for secure and excellent returns. For some time now, banks have started giving excellent returns to investors on FD. In this series, IDFC First Bank has also updated its FD interest rates for amounts less than Rs 3 crore. The revised rates are effective from 16 October 2024.
what is the interest rate
Let us tell you that at present the bank is offering interest rates between 3 percent to 7.75 percent for common citizens on deposits with maturity period ranging from seven days to 10 years. At the same time, for senior citizens, the bank offers additional interest of 0.50 percent per year compared to normal customers. In this way the interest rate of FD ranges from 3.50 percent to 8.25 percent. It offers the highest interest rate of 8.25 percent for a tenure of 400 to 500 days. A penalty of 1 percent will be imposed on early withdrawal of FD.
interest rate of pnb
Punjab National Bank offers fixed deposit interest rates ranging from 3.50 percent to 7.25 percent for tenures ranging from 7 days to 10 years for general citizens. Senior citizens can avail interest rates ranging between 4 per cent to 7.75 per cent, while ultra senior citizens can avail interest rates ranging from 4.30 per cent to 8.05 per cent. These rates are effective from October 1, 2024.
-Punjab & Sindh Bank offers FD interest rates ranging from 2.80 percent to 7.25 percent for tenures ranging from 7 days to 10 years, which is applicable for general citizens. These rates are effective from October 1, 2024.
-Bank of Baroda offers fixed deposit interest rates ranging from 4.25 percent to 7.15 percent for general citizens for tenures between 7 days to 10 years. Senior citizens can avail rates ranging between 4.75 per cent to 7.60 per cent. These new rates are effective from 3 October 2024.
