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IndusInd Bank has revised its interest rates on fixed deposits, offering rates ranging from 3.50% to 7.75% for the general public and 4% to 8.25% for senior citizens
FD rate hike: Axis Bank offers FD rates of 3.50-7.85% p.a. to senior citizens on tenures ranging from 7 days to 10 years, effective from 5 February 2024
Several banks, including Bank of India, Kotak Mahindra Bank, DCB Bank, and Federal Bank, have hiked their fixed deposit interest rates in December 2023
Banks with a smaller geographic presence are providing higher returns on savings accounts than the fixed deposit rates offered by larger banks. This highlights the growing competition to attract funds in an economy where credit growth outpaces deposit accumulation in the banking system.
The Reserve Bank of India (RBI) has kept the repo rate unchanged for the fifth time in a row at 6.5%. The US Federal Reserve also kept key interest rates steady and predicts three rate cuts next year. Interest rates on FDs are influenced by changes in the repo rate
IndusInd Bank has revised their fixed deposit (FD) interest rates with effect from December 1, 2023. For senior citizens IndusInd Bank offers an interest rate of 8.25%. Read below to find out the latest rates of IndusInd bank FD and also compare it with HDFC Bank, SBI, ICICI, PNB, and YES Bank.
Non-withdrawable fixed deposits (FDs) from HDFC Bank cannot be closed before the expiry of the term. Premature withdrawal is only allowed in exceptional circumstances