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FD Rates For BOI, ICICI, Axis, And 5 More Banks Have Changed; Know The Interest Rate For Senior Citizens

Eight banks, including Punjab and Sind Bank, Bank of India, Union Bank of India, ICICI Bank, and Axis Bank, have revised their fixed deposit rates during the week ending July 6, 2024.

July 6, 2024
July 6, 2024
Fixed deposit interest rates for senior citizens

Fixed deposit interest rates for senior citizens

As the second quarter of the financial year 2024-25 kicked off, eight public and private sector and small finance banks, including Punjab and Sind, BOI, UBI, ICICI and Axis announced their latest fixed deposit (FD) rates on certain tenures. Senior citizens can avail of up to a maximum of 8.75 per cent after the rate revision during the week ended on June 6, 2024.

The new FD interest rates are as follows:

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Punjab & Sind Bank:

The bank revised the FD rates on July 1, 2024. Senior citizens can earn up to 7.80 per cent on its 666-day FDs, including the additional 0.50 per cent. Here are the rates for all tenures:

– 6.80 per cent for one year

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– 6.50 per cent for more than one year to 443 days

– 7.75 per cent for 444 days

– 6.50 per cent for 445 days to 665 days

– 7.80 per cent for 666 days

– 6.50 per cent for 667 days to two years

– 6.80 per cent for above two years to less than 998 days

– 7.15 per cent for 999 days

– 6.80 per cent for 1000 days to less than three years

– 6.50 per cent for three years to five years

– 6.75 per cent for more than five years to 10 years.

The 444-day FD is valid only till September 30, 2024.

Bank of India:

After its rate revision on June 30, 2024, the bank offers senior citizens a maximum of 7.80 per cent. The rates for all citizens are as follows:

– 6.80 per cent for 1 year to two years, except for 666-day FD

– 7.30 per cent for 666 days

– 6.75 per cent for above 2 years to less than 3 years

– 6.50 per cent for 3 years to less than 5 years

– 6.00 per cent for 5 years to 10 years

It offers an additional 0.50 per cent to senior citizens on FDs of less than three years and 0.75 per cent for FDs of three years and above. Super seniors get 0.65 per cent for FDs of less than three years and 0.90 per cent on FDs of three years and above.

Also Read: Atal Pension Yojana Enrolments Cross 6.65 Crore In June; East Zone Sees Growth, Says PFRDA

Union Bank of India:

It revised the rates on July 5, 2024. It offers 0.50 per cent extra to senior citizens and 0.75 per cent more for super seniors on all domestic FDs. Here are the interest rates for the general public:

– 6.80 per cent for one year to 398 days

– 7.25 per cent for 399 days

– 6.60 per cent for 400 days to 996 days

– 6.40 per cent for 997 days

– 6.60 per cent for over 998 days to less than three years, except for 999 days

– 6.40 per cent for 999 days

– 6.70 per cent for three years

– 6.50 per cent for over three years to 10 years

ICICI Bank:

Seniors can avail of a maximum of 7.75 per cent with ICICI bank FDs. The bank revised the rates on July 6, 2024. Here are the rates for the public:

– 7.20 per cent for one year to less than 15 months

– 7.75 per cent for 15 months to less than 18 months

– 7.70 per cent for 18 months to two years

– 7.50 per cent for two years one day to five years

– 7.40 per cent for five years one day to 10 years.

Axis Bank:

The bank revised the rates on July 1, 2024. It offers 0.50 per cent additional rates to senior citizens. The rates for seniors are as follows:

– 7.20 per cent for FDs from one year to less than 15 months

– 7.60 per cent for 15 months less than 17 months

– 7.70 per cent for 17 months less than 18 months

– 7.60 per cent from 18 Months less than five years

– 7.75 per cent for five years to 10 years.

Seniors can avail of a maximum 7.70 per cent.

IndusInd Bank:

The bank offers seniors up to 8.25 per cent. Seniors can book FDs at:

– 8.25 per cent for FDs of one year to two years

– 7.75 per cent for above two years to below 61 months

– 7.50 per cent for 61 months and above.

The interest rates were revised on July 3, 2023.

Jana Small Finance Bank:

This small finance bank revised the rates on July 2, and offers the highest 8.75 per cent to seniors. Here are the rates for seniors:

– 8.75 per cent from 365 days to three years (1,095 days)

– 7.75 per cent from more than three years to five years (1,825 days)

– 7.00 per cent for more than five years to 10 years.

Also Read: ITR Filing: How Can You Save Capital Gain Tax On Your Equity Investments?

Ujjivan Small Finance Bank:

The bank offers a 0.50 per cent additional rate to senior citizens after the revision on July 1, 2024; it provides a maximum of 8.75 per cent to seniors. The other rates for seniors are:

– 8.25 per cent for 12 months

– 8.00 per cent for 12 months one day to 560 days

– 7.75 per cent for 561 days to 990 days

– 7.20 per cent for 991 days to 60 months

– 6.50 per cent for 60 months one day to 120 months.

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