Seventeen banks, including public, private and small finance banks, revised their FD rates in the week ending June 15, 2024, after the Reserve Bank of India’s (RBI) monetary policy meeting.

Here are the details.

State Bank of India (SBI):

Highest Rate: 7.60 per cent

The bank revised rates on June 15, 2024. Seniors can avail of:

· 7.30 per cent for one year to less than two years

· 7.50 per cent for two years to less than three years

· 7.25 per cent for three years to less than five years; and

· 7.50 per cent for five years and up to ten years.

Its 400-day Amrit Kalash FD offers 7.60 per cent to seniors, open up to September 30, 2024.

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Punjab National Bank (PNB):

Highest Rate: 7.75 per cent

The bank offers 0.50 per cent more to senior citizens than the general public and 0.80 per cent more for super senior citizens. For above 5 to 10-year FDs, seniors and super seniors, get a 0.80 per cent additional rate. It revised the rates on June 10, 2024. Here are the rates for seniors:

· 7.25 per cent for one year

· 7.30 per cent for more than one year to 399 days

· 7.75 per cent for 400 days

· 7.30 per cent for 401 days to two years

· 7.50 per cent for more than two years to three years

· 7.00 per cent for more than three years to 1,203 days

· 6.90 per cent for 1,204 days

· 7.00 per cent for 1,205 days to five years

· 7.30 per cent for more than five years to 1,894 days

· 7.15 per cent for 1,895 days

· 7.30 per cent for 1,896 days to ten years.

The special tenure 1,204-day and 1,895-day FDs were launched under the PNB Palaash scheme, to commemorate PNB’s foundation day on April 12, 1895.

Bank of Baroda (BoB):

Highest Rate: 7.65 per cent

It revised FD rates on June 12, 2024. Here are the rates for seniors:

· 7.35 per cent for tenures between one year and up to two years

· 7.75 per cent for above two years and up to three years

· 7.15 per cent for above three years and up to five years

· 7.50 per cent for above five years and up to ten years.

For its 399-Day (Baroda Tiranga Plus Deposit Scheme) FD, the rate is 7.65 per cent.

Central Bank of India (CBI):

Highest Rate: 7.80 per cent

After revision on June 10, 2024, The FD rates for senior citizens are:

· 6.75 per cent for one year to less than two years

· 7.50 per cent for two years to less than three years, and

· 7.00 per cent for tenures from three years to ten years.

For its special term deposit of ‘444 days’, seniors can receive 7.80 per cent interest, which comes to be an annualized yield of 8.03 per cent.

Indian Bank:

Highest Rate: 7.75 per cent (for seniors), 8.00 per cent (for super seniors)

Here are the rates seniors can avail of after the revision on June 12, 2024:

· 6.60 per cent for one year

· 7.60 per cent for above one year to less than two years

· 7.20 per cent for two years to less than three years

· 6.75 per cent for three years to five years period; and

· 6.60 per cent for above five years.

For its 400-day FD, the rate is 7.75 per cent for seniors and 8.00 per cent for super seniors. For other special FD, ‘300 days’, the rates are 7.55 per cent and 7.80 per cent for senior and super seniors, respectively.

Union Bank of India:

Highest Rate: 7.75 per cent

The bank revised interest on June 15, 2024, and offers:

· 7.25 per cent for periods between one year and 398 days

· 7.75 per cent for 399 days

· 7.00 per cent for periods between 400 days and 996 days

· 6.90 per cent for 997 days; and

· 7.00 per cent for tenures from more than 998 days to ten years.

The rates are an additional 0.25 per cent above the rates (above) for super seniors.

Canara Bank:

Highest Rate: 7.75 per cent

The bank offers a maximum of 7.75 per cent interest to senior citizens. Here are the rates:

· 7.35 per cent for various tenures from one year only to less than three years, except for 444 days

· 7.75 per cent for 444 days

· 7.30 per cent for three years & above to less than five years; and

· 7.20 per cent for five years & above to ten years.

· The rates were revised on June 11, 2024.

Bank of Maharashtra:

Highest Rate: 7.75 per cent

This public sector bank revised rates on June 13, 2024, and offers various special tenure schemes that cannot be auto-renewed but provide higher returns than regular FDs. Here are the rates available for all. Seniors are given 0.50 per cent additional interest above these rates:

· 6.75 per cent for one year

· 6.50 per cent for various tenures above one year.

For special FDs:

· 6.90 per cent for 200 days

· 7.10 per cent for 400 days

· 7.15 per cent for 666 days

· 7.25 per cent for 777 days.

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J&K Bank:

Highest Rate: 7.55 per cent

After the interest rate revision on June 11, the bank increased the small tenure (less than one year) rates, but reduced rates for ‘One year to less than two years’ FDs from 7.55 per cent to 7.50 per cent. Here are the details of FDs over one year:

· 7.50 per cent for periods from one year to less than three years

· 7.00 per cent from three years to ten years period.

Karnataka Bank:

Highest Rate: 7.65 per cent

Senior citizens can avail of a maximum of 7.65 per cent after rate revision on June 14, 2024.

· 7.65 per cent for 375 days

· 7.5 per cent for one year to two years

· 6.9 per cent for above two years to five years

· 6.3 per cent for above five years to ten years.

ICICI Bank:

Highest Rate: 7.20 per cent

The bank revised rates on June 14, 2024. It offers an additional 0.50 per cent to seniors and 5 basis points over and above the existing 50 basis points for tenures 15 months to less than 18 months. Here are the general public rates:

· 6.70 per cent for tenures from one year to less than 15 months

· 7.20 per cent for 15 months to two years

· 7.00 per cent for two years to five years; and

· 6.90 per cent for ‘Five years one day to ten years’.

HDFC Bank:

Highest Rate: 7.75 per cent

The bank revised the rate on June 12, 2024. The rates for senior citizens are:

· 7.10 per cent for one year to less than 15 months

· 7.60 per cent for 15 months to less than 18 months

· 7.75 per cent for 18 months to less than 21 months

· 7.50 percent for various tenures between 21 months and ten years, except for two tenures

· 7.65 per cent for two years 11 months to 35 months; and

· 7.70 per cent for four years seven months to 55 months.

IDFC First Bank:

Highest Rate: 8.40 per cent

The bank offers seniors the highest 8.40 per cent effective June 14, 2024. It offers:

· 7.00 per cent for one year

· 8.00 per cent for one year one day to 499 days

· 8.40 per cent for 500 days

· 8.00 per cent for 501 days to 548 days

· 8.25 per cent for 549 days to two years

· 7.75 per cent for two years one day to three years; and

· 7.50 per cent for three years to ten years.

Kotak Mahindra Bank:

Highest Rate: 7.90 per cent

Its revised rates for senior citizens effective from June 14, 2024, are:

· 7.60 per cent for 365 days to 389 days

· 7.90 per cent for tenures from 390 days to less than 23 months

· 7.85 per cent for periods from 23 months to less than two years

· 7.65 per cent for two years to less than three years

· 7.60 per cent from three years to less than five years

· 6.70 per cent for five years and above up to and inclusive of 10 years.

Equitas Small Finance Bank:

Highest Rate: 9.00 per cent

This small finance bank revised FD rates on June 12, 2024, and offers 8.75 per cent to senior citizens. They can avail of:

· 8.70 per cent for one year (365 days)

· 8.50 per cent for one year one day

· 8.70 per cent for one year two days to 443 days

· 9.00 per cent for 444 days

· 8.70 per cent for 445 days to 18 months

· 8.25 per cent for 18 months one day to two years

· 8.50 per cent for two years one day 887 days

· 8.75 per cent for 888 days

· 8.50 per cent for 889 days to three years

· 8.00 per cent for three years one day to four years

· 7.75 per cent from four years to ten years.

Jana Small Finance Bank:

Highest Rate: 9.00 per cent

The bank revised rates on June 10, 2024. Here are the rates for seniors:

· 9.00 per cent for 365 days

· 8.75 per cent for more than one year to two years (730 days)

· 7.75 per cent from more than two years to years

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

Shivalik Small Finance Bank:

Highest Rate: 9.05 per cent

The bank revised rates on June 10, 2024, and offers the highest 9.05 per cent for seniors. Here are the rates:

· 8.30 per cent for 12 months to less than 18 months

· 9.05 per cent for 18 months to 24 months

· 8.00 per cent for 24 months one day to 36 months

· 7.00 per cent for 36 months one day to 60 months; and

· 6.75 per cent for 60 months one day to 120 months.