FD Interest Rates Hiked: 3 Pvt, 2 PSU Banks That Revised Rates In Last 2 Weeks

Recently, 5 leading private and public sector banks revised their interest rates on fixed deposits (FDs). These banks are IndusInd Bank, Bank of Baroda, UCO Bank, DCB Bank, and Kotak Mahindra Bank. Check interest rates that these banks now offer on FDs after the revision:

1. IndusInd Bank: The leading private sector bank updated its fixed deposit interest rates on March 18, 2023. After the revision, the bank offers senior citizens maximum interest rate of 8.25% on fixed deposits for the tenure of 1 year 6 months to below 1 year 7 months. For the same tenure, regular citizens can fetch an interest rate of 7.75%. These interest rates are applicable for deposits of less than Rs 2 crore.

2. Bank of Baroda: The public sector bank implemented new FD interest rates from March 17, 2023 for deposits below Rs 2 crores. Senior citizens can fetch maximum 7.55% for 399 days tenure while regular citizens can fetch 7.05% for the same tenure known as Baroda Tiranga Plus Deposit Scheme. For 1-year FD, the bank is offering regular citizens an interest rate of 6.75% and for senior citizens, the interest rate is 7.25%.

3. UCO Bank: The leading PSU bank revised its FD interest rates on March 15, 2023. After the revision, the bank is offering maximum 7.20% interest rates to senior citizens and 7.15% interest rates to regular citizens for FDs for the tenure of 666 days. Meanwhile, for FDs for the tenure of 444 days, regular citizens can get 7.00% interest rate and senior citizens can get 7.05% interest rate. These interest rates are applicable for term deposits less than Rs 2 crores.

4. DCB Bank: The bank revised its FD interest rates on March 10, 2023 for deposits less than Rs 2 crores. Now it is offering maximum 8.50% interest rate to senior citizens and 8.00% interest rate to regular citizens for FDs for the tenure of 15 months to less than 18 months.

5: Kotak Mahindra Bank: The bank revised its FD interest rates today for deposits of less than Rs 2 crore. Now senior citizens can get maximum 7.70% interest rate for FDs for the tenure of 390 days. Meanwhile, regular citizens can get maximum 7.20% interest rate for 390 days tenure FDs.