Fixed deposits (FDs) remain a popular option for investors seeking stability and reliable returns in India. With the Reserve Bank of India (RBI) maintaining its repo rate for the tenth consecutive time, now is an advantageous time to secure higher rates. Banks in India offer appealing FD rates, and here are the revised rates from three banks: YES Bank, Punjab and Sind Bank, and Bank of Maharashtra.
YES Bank has revised its FD rates, with general citizens eligible for rates ranging from 3.25% to 7.75% per annum and senior citizens for rates between 3.75% to 8.25% per annum. Punjab and Sind Bank has introduced special limited-time FDs with increased interest rates, offering general citizens interest rates between 4.00% to 6.30% per annum and senior citizens for rates between 4.00% to 6.80% per annum. Bank of Maharashtra has adjusted its FD rates, offering general citizens rates between 2.75% to 7.35% per annum and senior citizens for rates between 2.75% to 7.85% per annum. These revised rates are effective from November 2024, and investors can take advantage of higher returns by locking in their deposits.