Several banks in India have recently revised their fixed deposit (FD) rates, offering attractive returns for both regular customers and senior citizens. The changes come amid the Reserve Bank of India’s (RBI) Monetary Policy Committee meeting, which will conclude on December 6. The revised FD rates range from 3.5% to 7.99% for regular customers and 4% to 8.49% for senior citizens, depending on the tenure of the deposit. Some notable changes include:
* Karnataka Bank: 3.5% to 7.50% interest for general citizens and 8% for senior citizens for tenures of 7 days to 10 years.
* Canara Bank: 4% to 7.40% for general public and 4% to 7.90% for senior citizens on callable deposits.
* YES Bank: 3.25% to 7.75% for regular customers and 3.75% to 8.25% for senior citizens, with the highest rates available for 18-month FDs.
* IndusInd Bank: 3.50% to 7.99% for regular customers and 4% to 8.49% for senior citizens, with the highest rates available for FDs with a term of 1 year and 5 months to just under 1 year and 6 months.
* IDFC FIRST Bank: 3% to 7.90% for regular customers and 3.50% to 8.40% for senior citizens, with the highest rates available on deposits with a tenure of 400 to 500 days.
These changes reflect the broader monetary trends and may influence depositor decisions. It’s essential for savers to review their options and consider the revised FD rates when making investment decisions.