Latest FD Rates: BoB vs DCB vs Axis vs UCO vs Canara Bank vs Kotak Mahindra Bank

In the face of rising interest rates on bank fixed deposits, fixed deposits have regained prominence among debt investors seeking high returns, flexible maturities, deposit safety, and tax savings. We have selected a few banks that have updated interest rates on fixed deposits of less than Rs 2 Cr in March since it is an important responsibility to hunt for better interest rates before establishing a fixed deposit account.

Bank of Baroda

Bank of Baroda has revised its interest rates as of March 22, 2022. Following the recent announcement, the bank is now giving fixed deposits of less than Rs 2 crore at a maximum interest rate of 5.35 percent to the general public and 6.35 percent to senior citizens. Below are the current interest rates applicable on domestic fixed deposits.

Tenors	Regular rates in % p.a.	ROI in % p.a. for senior citizens
7 days to 14 days	2.8	3.3
15 days to 45 days	2.8	3.3
46 days to 90 days	3.7	4.2
91 days to 180 days	3.7	4.2
181 days to 270 days	4.3	4.8
271 days & above and less than 1 year	4.4	4.9
1 year	5	5.5
Above 1 year to 400 days	5.2	5.7
Above 400 days and upto 2 Years	5.2	5.7
Above 2 Years and upto 3 Years	5.2	5.7
Above 3 Years and upto 5 Years	5.35	6
Above 5 Years and upto 10 Years	5.35	6.35
Source: Bank Website

DCB Bank

On March 7, 2022, this private sector lender announced new fixed deposit interest rates. The bank is now giving a maximum interest rate of 6.25 percent to the general public and 6.75 percent to senior citizens as a result of the modification. DCB Bank is currently giving the following interest rates on resident Indian fixed deposits of less than Rs 2 crore.

Tenors	Regular rates in % p.a.	ROI in % p.a. for senior citizens
7 days to 14 days	4.35%	4.85%
15 days to 45 days	4.35%	4.85%
46 days to 90 days	4.35%	4.85%
91 days to less than 6 months	5.05%	5.55%
6 months to less than 12 months	5.25%	5.75%
12 months	5.55%	6.05%
More than 12 months to less than 15 months	5.30%	5.80%
15 months to less than 18 months	6.00%	6.50%
18 months to less than 700 days	6.25%	6.75%
700 days	6.25%	6.75%
More than 700 days to less than 36 months	6.25%	6.75%
36 months	6.25%	6.75%
More than 36 months to 60 months	6.25%	6.75%
More than 60 months to 120 months	6.25%	6.75%
Source: Bank Website

Axis Bank

Axis Bank announced a 5 basis point interest rate rise on domestic term deposits of less than Rs 2 crore maturing in one year 11 days to one year 25 days on March 21, 2022. The bank previously offered a 5.25 percent interest rate on this period, but it will now offer a 5.30 percent rate to the general public. Axis Bank's current fixed deposit interest rates are listed below.

Tenors	Regular rates in % p.a.	ROI in % p.a. for senior citizens
7 days to 14 days	2.5	2.5
15 days to 29 days	2.5	2.5
30 days to 45 days	3	3
46 days to 60 days	3	3
61 days to less than 3 months	3	3
3 months to less than 4 months	3.5	3.5
4 months to less than 5 months	3.5	3.5
5 months to less than 6 months	3.5	3.5
6 months to less than 7 months	4.4	4.65
7 months to less than 8 months	4.4	4.65
8 months to less than 9 months	4.4	4.65
9 months to less than 10 months	4.4	4.65
10 months to less than 11 months	4.4	4.65
11 months to less than 11 months 25 days	4.4	4.65
11 months 25 days to less than 1 year	4.4	4.65
1 year to less than 1 year 5 days	5.1	5.75
1 year 5 days to less than 1 year 11days	5.15	5.8
1 year 11days to less than 1 year 25days	5.3	5.95
1 year 25 days to less than 13 months	5.15	5.8
13 months to less than 14 months	5.15	5.8
14 months to less than 15 months	5.15	5.8
15 months to less than 16 months	5.2	5.85
16 months to less than 17 months	5.2	5.85
17 months to less than 18 months	5.2	5.85
18 months to less than 2 years	5.25	5.9
2 years to less than 30 months	5.4	6.05
30 months to less than 3 years	5.4	6.05
3 years to less than 5 years	5.4	6.05
5 years to 10 years	5.75	6.5
Source: Bank Website. W.E.F. 21/03/2022

UCO Bank

With effect from 11.03.2022, UCO Bank's interest rate(s) on Domestic Term Deposits have been changed. In accordance with the revised, the bank is now offering term deposits of less than Rs 2 Cr maturing in 7 days to 5 years and above at an interest rate of 2.55 percent to 5.30 percent to the general public and 2.80 percent to 5.80 percent to senior citizens.

Tenors	Regular rates in % p.a.	ROI in % p.a. for senior citizens
7 - 14 Days	2.55%	2.80%
15 - 29 Days	2.55%	2.80%
30 - 45 Days	2.80%	3.05%
46 - 60 Days	3.55%	3.80%
61 - 90 Days	3.55%	3.80%
91 - 120 Days	3.70%	3.95%
121 - 150 Days	3.70%	3.95%
151-180 Days	3.70%	3.95%
181 to 364 days	4.40%	4.65%
1 year	5.10%	5.35%
More than 1 year but upto 2 Years	5.10%	5.60%
Above 2 Years upto 3 Years	5.10%	5.60%
Above 3 Years and less than 5 Years	5.30%	5.80%
5 years and above	5.30%	5.80%
Source: Bank Website

Canara Bank

On 01.03.2022, Canara Bank revised its interest rate on deposits of less than Rs.2 crore. On term deposits maturing in 7 days to 10 years, the general public will now get an interest rate of 2.90 percent to 5.50 percent, while senior citizens will receive an interest rate of 2.90 percent to 6.00 percent.

Tenors	Regular rates in % p.a.	ROI in % p.a. for senior citizens
7 days to 45 days	2.9	2.9
46 days to 90 days	3.9	3.9
91 days to 179 days	3.95	3.95
180 days to less than 1 Year	4.4	4.9
1 year only	5.1	5.6
Above 1 year to less than 2 years	5.15	5.65
2 years & above to less than 3 years	5.2	5.7
3 years & above to less than 5 years	5.45	5.95
Canara Unique "1111 Days"	5.55	6.05
5 years & above to 10 Years	5.5	6
Source: Bank Website

Kotak Mahindra Bank

Kotak Mahindra Bank announced updated interest rates on domestic term deposits of less than Rs 2 crore on March 9, 2022. Non-senior citizens will now get an interest rate of 2.50 percent to 5.50 percent, while senior citizens will receive an interest rate of 3.00 percent to 6.00 percent on deposits maturing in 7 days to 10 years as a result of the modification.

Tenors	Regular rates in % p.a.	ROI in % p.a. for senior citizens
7 - 14 Days	2.50%	3.00%
15 - 30 Days	2.50%	3.00%
31 - 45 Days	2.75%	3.25%
46 - 90 Days	2.75%	3.25%
91 - 120 Days	3.00%	3.50%
121 - 179 days	3.25%	3.75%
180 Days	4.40%	4.90%
181 Days to 269 Days	4.40%	4.90%
270 Days	4.40%	4.90%
271 Days to 363 Days	4.40%	4.90%
364 Days	4.50%	5.00%
365 Days to 389 Days	5.00%	5.50%
390 Days (12 months 25 days)	5.10%	5.60%
391 Days - Less than 23 Months	5.10%	5.60%
23 Months	5.10%	5.60%
23 months 1 Day- less than 2 years	5.10%	5.60%
2 years- less than 3 years	5.20%	5.70%
3 years and above but less than 4 years	5.45%	5.95%
4 years and above but less than 5 years	5.45%	5.95%
5 years and above upto and inclusive of 10 years	5.50%	6.00%
Source: Bank Website