Banks Revised Fixed Deposit Interest Rates In June 2023, Check Here

Fixed deposits are a popular investment option as they offer stable returns and capital preservation. The interest rates offered by banks play a crucial role in determining the attractiveness of FDs. In the month of June 2023, several banks in India made revisions to their fixed deposit interest rates. Here are some of the prominent banks that have revised their fixed deposit interest rates in the month of June 2023.

IDBI Bank

IDBI Bank recently announced revisions to its fixed deposit (FD) interest rates applicable to amounts below Rs 2 crore. These revised rates came into effect from June 14, 2023. For regular deposits below Rs 2 crore, IDBI Bank now offers an attractive interest rate ranging from 3% to 6.80% for general citizens. The specific interest rate within this range depends on the tenure of the FD. However, under the Amrit Mahotsav FD scheme, IDBI Bank provides a higher interest rate of 7.15% to its customers.

RBL Bank

RBL Bank revised its fixed deposit interest rates which are effective from June 1, 2023. The bank now offers an attractive interest rate range of 3.50% to 7.80% for regular citizens on deposits below Rs 2 crore. Among the revised rates, the highest interest rate of 7.80% can be availed for a tenure of 15 months to less than 24 months.

Unity Small Finance Bank (SFB)

Unity Small Finance Bank (SFB) has revised interest rates on fixed deposits below Rs 2 crore. These new rates, which came into effect on June 14, 2023. For general citizens depositing amounts below Rs 2 crore, Unity Small Finance Bank offers a range of interest rates from 4.50% to 9%. The highest interest rate of 9% is provided for fixed deposits with a tenure of 1001 days, offering an attractive option for those looking to maximise their returns on investments

PNB

According to the PNB website, the Punjab National Bank (PNB) has lowered the interest rate on single-tenure fixed deposits for sums less Rs 2 crore. Beginning on June 1, 2023, the revised rates will be in effect.
PNB now offers an attractive interest rate ranging from 3.50% to 6.80% for general citizens. It offers 4% to 7.55% interest to senior citizens and 4.30% to 8.5% to super senior citizens.

Ujjivan Small Finance Bank

Ujjivan Small Finance Bank revised fixed deposit interest rates on multiple tenures starting from June 1, 2023,. Ujjivan SFB now provides a competitive interest rate range of 3.75% to 8.25% on fixed deposits, catering to various tenures.

IndusInd Bank

IndusInd Bank has introduced revised interest rates on fixed deposits for amounts below Rs 2 crore, effective from June 2, 2023. The bank offers a range of interest rates, starting from 3.50% to 7.75% for general citizens.
IndusInd Bank provides competitive interest rates to cater to the diverse needs of its customers. Among the available options, the highest interest rate of 7.75% is offered on fixed deposit tenures ranging from 1 year 6 months up to 2 years. Bank is offering 4% to 8.25% interest on fixed deposits for senior citizens.