Five public, private, and small finance banks revised their fixed deposit (FD) rates this week, ahead of the Reserve Bank of India (RBI) Monetary Policy Committee (MPC) meeting’s five-to-one verdict on Friday to keep the benchmark policy repo rate unchanged at 6.5 per cent.

Here are the details of the revised fixed deposit interest rates of these banks.

Punjab & Sind Bank:

The private sector bank revised its term deposit rates on April 2, 2024, providing the highest 7.25 per cent for the general public and an additional 0.50 per cent or 7.75 per cent to senior citizens on all FDs of 180 days and above. For 180 to 221 days, it offers 5.75 per cent; for 222 days, it is 7.55 per cent; for 223 to 269 days, it is 5.75 per cent; for 270 days to less than one year, it is 6.0 per cent, except for 333 days, where it offers 7.60 per cent to senior citizens. Furthermore, for one year, it provides 6.70 per cent; for more than one year to two years, it is 6.50 per cent, except for 444-day special FDs, where the interest rate is 7.75 per cent. For tenures above two years to less than three years, three years to less than five years, and five years to less than 10 years, the interest rates are 6.80 per cent, 6.50 per cent, and 6.75 per cent, respectively.

Note the FDs of 222 days, 333 days, and 444 days are open for subscription till June 30, 2024.

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Bank of India:

The bank revised the fixed deposit rates on April 1, 2024, offering 8.00 per cent to senior citizens and 8.15 per cent to super senior citizens (80 years and above). It provides an additional 0.50 per cent interest to senior citizens for FDs of six months to less than three years and an extra 0.75 per cent for three to 10-year FDs. Similarly, for super seniors, the additional rate is 0.65 per cent and 0.90 per cent, respectively, over the rates offered to the general public. Senior citizens can earn 7.30 per cent interest for one year to less than two-year FDs, 7.75 per cent for two-year FDs, and 7.25 per cent for above two to less than three-year FDs. For three to less than five years FDs, it offers 7.25 per cent; for five to less than 10 years, it gives 6.75 per cent. For super senior citizens, the rate is 7.45 per cent for one year to less than two years, 7.90 per cent for two years, 7.40 per cent for above two to less than five years, and 6.90 per cent for five to 10 years.

Axis Bank:

This private sector bank revised the FD rates on April 4, 2024. Seniors can avail of a maximum of 7.85 per cent for 17 months to less than 18 months FDs. For one year to less than 15 months, the interest rate for seniors is 7.20 per cent; for 15 months to less than 17 months, it is 7.60 per cent; and for 17 to less than 18 months, it is the highest, 7.85 per cent. The interest rate for tenures between 18 months and less than five years is 7.60 per cent, and for five years to 10 years, it is 7.75 per cent.

Fincare Small Finance Bank:

This small finance bank offers a maximum of 8.50 per cent interest to senior citizens. It revised the rates on April 1, 2024, offering 8.25 per cent to seniors for 12 months one day to 15-month FDs, 8.0 per cent for 15 months one day to less than 18 months, 8.50 per cent for 18-month FDs, and 8.25 per cent for 18 months one day to 24-month FDs. For 24 months one day to 45-month FDs, the interest is 8.0 per cent, and for 45 months one day to 120 months, it is 7.75 per cent.

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Suryoday Small Finance Bank:

Effective April 2, 2024, the bank provides a maximum of 9.25 per cent to seniors, yielding up to 9.58 per cent. It offers 7.35 per cent for one-year FDs, 8.75 per cent for above one year up to 15 months, 9.0 per cent for above 15 months to two years, and 9.10 per cent for above two years up to three years. The interest rate is 7.25 per cent for those above two to less than five years and 7.75 per cent for those above five to 10 years. It offers senior citizens the highest rate of 9.25 per cent on five-year FDs.