Fixed deposits provide a reliable investment opportunity with interest rates that surpass those of standard savings accounts. Once an investor commits to a fixed deposit, the interest rate remains fixed for the entire term of the deposit. This predictability enables investors to accurately forecast their earnings and make well-informed financial decisions.
Several banks have adjusted their fixed deposit interest rates during the month of September, according to an ET report.
Bank of Baroda: Latest FD Rates
Bank of Baroda offers fixed deposit interest rates between 4.25% to 7.30% for general citizens for tenure ranging from 7 days to 10 years. For senior citizens, the bank offers an interest rate between 4.75% to 7.80%. The rates are applicable from September 5, 2024.
| Tenors |
Residents / General Public |
Resident Indian Sr. Citizen |
| 7 days to 14 days |
4.25 |
4.75* |
| 15 days to 45 days |
4.5 |
5.00* |
| 46 days to 90 days |
5.5 |
6.00* |
| 91 days to 180 days |
5.6 |
6.10* |
| 181 days to 210 days |
5.75 |
6.25* |
| 211 days to 270 days |
6.25 |
6.75* |
| 271 days & above and less than 1 year (except 333Days and 360 Days) |
6.5 |
7.00* |
| 333 Days (bob Monsoon Dhamaka Deposit Scheme) |
7.15 |
7.65* |
| 360 Days (bob360) |
7.1 |
7.60* |
| 1 year |
6.85 |
7.35* |
| 399 Days (bob Monsoon Dhamaka Plus Deposit Scheme) |
7.3 |
7.80* |
| Above 1 year to 400 days (Except 399 Days) |
7 |
7.50* |
| Above 400 days and upto 2 Years |
7 |
7.50* |
| Above 2 Years and upto 3 Years |
7.15 |
7.65* |
| Above 3 Years and upto 5 Years |
6.5 |
7.15 # |
| Above 5 Years and upto 10 Years |
6.5 |
7.50** |
| Above 10 years (MACT/MACAD |
6.2
5
|
6.75* |
| Court Order schemes only) |
Axis Bank: Latest FD Rates
Axis Bank offers fixed deposit interest rates between 3% to 7.25% for general citizens for tenure ranging from 7 days to 10 years. For senior citizens, the bank offers an interest rate between 3.5% to 7.75%. The rates are applicable from September 10, 2024.
IndusInd Bank: Latest FD Rates
IndusInd Bank offers fixed deposit interest rates between 3.5% to 7.99% for general citizens for tenure ranging from 7 days to 10 years. For senior citizens, the bank offers an interest rate between 4% to 8.25%. The rates are applicable from September 11, 2024.
| < 3 Cr* DOMESTIC(RESIDENT) NRE/NRO deposits |
< 3 Cr* (Senior Citizen) |
|
| Tenure |
Rate |
Rate |
| 7 days to 14 days |
3.5 |
4 |
| 15 days to 30 days |
3.5 |
4 |
| 31 days to 45 days |
3.75 |
4.25 |
| 46 days to 60 days |
4.75 |
5.25 |
| 61 days to 90 days |
4.75 |
5.25 |
| 91 days to 120 days |
4.75 |
5.25 |
| 121 days to 180 days |
5 |
5.5 |
| 181 days to 210 days |
5.85 |
6.35 |
| 211 days to 269 days |
6.1 |
6.6 |
| 270 days to 354 days |
6.35 |
6.85 |
| 355 days to 364 days |
6.5 |
7 |
| 1 Year to below 1 Year 3 months |
7.75 |
8.25 |
| 1 Year 3 months (15 months) to below 1 Year 4 months (16 months) |
7.75 |
8.25 |
| 1 Year 4 months to below 1 Year 6 months |
7.99 |
8.25 |
| 1 Year 6 Months up to 2 Years |
7.75 |
8.25 |
| Above 2 Years to below 2 Years 6 Month |
7.25 |
7.75 |
| 2 years 6 Months (30 months) to below 2 years 7 months (31 months) |
7.25 |
7.75 |
| 2 year 7 months to 3 years 3 months |
7.25 |
7.75 |
| Above 3 years 3 months to below 61 month |
7.25 |
7.75 |
| 61 month and above |
7 |
7.5 |
| Indus Tax Saver Scheme (5 years) |
7.25 |
7.75 |
Federal Bank: Latest FD Rates
Federal Bank offers fixed deposit interest rates between 3% to 7.40% for general citizens for tenure ranging from 7 days to 10 years. For senior citizens, the bank offers an interest rate between 3.5% to 7.90%. The rates are applicable from September 16, 2024.
| Period |
Single Deposit Less than ₹300 Lakhs – General Public |
Single Deposit Less than ₹300 Lakhs – Senior Citizen |
| 7 days to 29 days |
3.00% |
3.50% |
| 30 days to 45 days |
3.25% |
3.75% |
| 46 days to 60 days |
4.00% |
4.50% |
| 61 days to 119 days |
4.75% |
5.25% |
| 120 days to 180 days |
5.00% |
5.50% |
| 181 days |
6.50% |
7.00% |
| 182 days to less than 1 year |
6.25% |
6.75% |
| 1 year to 399 days |
6.80% |
7.30% |
| 400 days |
7.35% |
7.85% |
| 401 days to 776 days |
7.05% |
7.55% |
| 777 days |
7.40% |
7.90% |
| 778 days to less than 3 years |
7.05% |
7.55% |
| 3 years to less than 50 months |
7.00% |
7.50% |
| 50 Months |
7.40% |
7.90% |
| Above 50 months to less than 5 years |
7.00% |
7.50% |
| 5 years and above |
6.60% |
7.25% |
Karnataka Bank: Latest FD Rates
Karnataka Bank offers fixed deposit interest rates between 3.5% to 7.50% for general citizens for tenure ranging from 7 days to 10 years. According to the bank website, “Resident senior citizens get extra 0.25% above general rate up to & inclusive of ?5 crore only under domestic FD and ACC Schemes (Not for deposit under NRE/NRO/FCNR(B) accounts) for a tenure of 7 days to below 1 years, and extra 0.50% above general rate for tenure 1 year to 10 years.”
| Maturity period |
Interest rate (% p.a.) for deposits below ₹ 3 crore |
| 7 days to 45 days |
3.5 |
| 46 days to 90 days |
4 |
| 91 days to 179 days |
5.25 |
| 180 days to below 1 year |
6.25 |
| 250 days only |
6.75 |
| 1 year to 2 years |
7.35 |
| 375 days (FD & ACC) |
7.5 |
| Above 2 years to 5 years |
6.5 |
| Above 5 years to 10 years |
5.8 |
