Bank FD Rates: RBI has increased the repo rate rapidly in the last one year. The effect of this has been that banks have also increased the rate of FDs.
Banks are offering good interest to senior citizens along with regular customers. Some banks are giving annual interest of up to 8.50 percent on FD. Let us know about the interest rate of five banks- Axis Bank is offering 6.75% for one year, 7.26% for two years and 7.00% for 3 years. Senior citizens are being given additional interest of 0.75% for all the three tenures.
Bandhan Bank has offered an interest rate of 7.25% for one year, 8.00% for 600 days, 7.25% for 2 years and 3 years. For senior citizens, additional interest of 0.50% is being given in every tenure.
RBL Bank is offering 7.00% for one year, 7.80% for 725 days, 7.00% for 2 years and 3 years. 0.50% additional interest is being offered by the bank for senior citizens.
IDFC First Bank is offering 6.75% interest for one year, 7.25% for 2 years and 7.75% for 3 years. 0.50% additional interest is being offered by the bank on all the three tenures.
DCB Bank is offering 7.25% interest for one year FD, 8.00% for 2 years and 7.60% for 3 years. DCB is also offering an additional interest of 0.50% on all the three tenures.
(Note: These interest rates have been taken from the official website of the banks. Rates are effective for deposits below Rs 2 crore.)
