Banks raised the interest rate for fixed deposits! Best choice to start a new savings!

Many banks have revised their fixed deposit interest rates in May. Among these banks are SBI, DCP. Banks include IDFC First bank, Utkarsh Small Finance bank, City Union bank, RPL Bank.

DCB Bank

DCP The bank has revised the interest rates for its fixed deposit fund accounts. It is Rs. Applicable only for amounts below 2 crores. The new interest rates are effective from May 22, 2024. It offers maximum interest rate of 8% for general customers and 8.55% for senior citizens.

IDFC FIRST Bank

IDFC First bank has revised its fixed deposit interest rates for amounts below Rs 2 crore. New Ft. The interest rates are effective from May 15. Following the change, it now offers interest rates ranging from 3% to 7.90% to general citizens. For senior citizens, it offers an additional interest of 0.50%.

State bank of india (SBI)

State bank of india (SBI) Rs. 2 crore for retail deposits and Rs. Fixed Deposit Fund has hiked interest rates for aggregate deposits above Rs 2 crore. The rate hike is effective from May 15, 2024.

Utkarsh Small Finance Bank

Utkarsh Small Finance bank Rs. Fixed Deposit Fund has changed interest rates for amounts below Rs 2 crore. The revised rates are effective from May 1. The bank offers interest rates ranging from 4 percent to 8.50 percent to general citizens. For senior citizens, the bank offers an interest rate of 4.60 percent to 9.10 percent.

RBL Bank

RPL The bank has hiked interest rates on fixed deposit funds for amounts below Rs 2 crore. The revised fixed deposit interest rates came into effect on May 1. Offers a maximum interest rate of 8% on FDs maturing between 18 to 24 months. 0.50% additional interest will be charged in case of senior citizens. Super Senior Citizens aged 80 years and above are charged an additional interest of 0.75%.

Capital bank Small Finance Bank

Capital Small Finance bank has hiked interest rates on fixed deposits of less than Rs 2 crore. As per the new interest rates effective from May 6, general citizens are offered interest ranging from 3.5 per cent to 7.55 per cent. Senior citizens get interest ranging from 4 percent to 8.05 percent.

City Union bank (CUB)

City Union bank has revised fixed deposit interest rates for amounts below Rs 2 crore. The revised interest rates are effective from May 6. It offers an interest rate of 5 percent to 7.25 percent for general citizens and 5 percent to 7.75 percent for senior citizens.