🏦 Banks revised their interest rate. Axis Bank, Canara Bank, Federal Bank and Suryodaya Small Finance Bank have increased interest rates on their fixed deposits. It has also made it beneficial for senior citizens.
🏦 Axis Bank Fixed Deposit 🏦 will be effective from August 14. Axis Bank offers FD interest of 3.5% to 8.05% to senior citizens on deposits maturing in 7 days to 10 years. For general customers, the bank offers 3.5% to 7.3% FD interest. These interest rates are Applicable on term deposits below Rs. 2 crores. Also maturing within 16 months to 17 months Rs. 8.05% interest on deposits below Rs 2 crore.
🏦 Canara Bank Fixed Deposit 🏦 From August 12, Canara Bank is offering 4% to 7.75% FD interest to senior citizens. The bank has 4% to 7.25% interest for general citizens.
🏦 Federal Bank Fixed Deposit 🏦 On the occasion of Independence Day, Federal Bank has announced to increase interest rates on deposits from 15th August 2023. The bank is now offering senior citizens 77 basis points above the standard rate for selected tenures. The term deposit rate for a tenure of 13 months is 7.30% for the general category and 8.07% for senior citizens. Enhanced rates are available for a limited period only.
🏦 Suryodaya Small Finance Bank (SSFB) Fixed Deposit 🏦 The new fixed deposit interest rates in this bank came into effect from August 7. Raised fixed deposit rates by 85 basis points (0.85%) for a tenure of five years. It now allows general public fixed deposits maturing in 7 days to 10 years at an interest rate of 4.00% to 8.60%. For senior citizens, Small Finance Bank offers FD interest rate ranging from 4.50% to 9.10%.
