Frequently, five key banks update their fixed deposit interest rates: a breakdown

Several Indian banks have revised their fixed deposit (FD) interest rates in December 2024. These banks include Federal Bank, Karnataka Bank, Equitas Small Finance Bank, RBL Bank, and Bank of Maharashtra. The revisions affect deposits less than ₹3 crore and offer a range of interest rates, from 2.75% to 8.75%, depending on the tenure and customer category. For general citizens, Federal Bank offers interest rates ranging from 3% to 7.4%, while RBL Bank offers rates between 3.5% and 8%. Karnataka Bank offers rates from 3.5% to 7.5%, Bank of Maharashtra from 2.75% to 7.35%, and Equitas Small Finance Bank from 3.5% to 8.25%. Senior citizens receive higher interest rates, ranging from 3.5% to 9% in some cases.