New Delhi: Ahead of the RBI bi-monthly monetary policy on October 6, several banks have revised the interest rates on Fixed Deposits. Yes Bank has revised the Interest Rates on Fixed Deposits effective from 4 October 2023
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| Fixed Deposit Interest Rates w.e.f. 4th October, 2023 | ||||
|---|---|---|---|---|
| Period | Regular | Senior Citizen** | ||
| Interest Rates (%P.A.)* | AnnualisedYield^ | Interest Rates (%P.A.)* | AnnualisedYield^ | |
| 7 days to 14 days | 3.25% | 3.25% | 3.75% | 3.75% |
| 15 days to 45 days | 3.70% | 3.70% | 4.20% | 4.20% |
| 46 days to 90 days | 4.10% | 4.10% | 4.60% | 4.60% |
| 91 days to 120 days | 4.75% | 4.75% | 5.25% | 5.25% |
| 121 days to 180 days | 5.00% | 5.00% | 5.50% | 5.50% |
| 181 days to 271 days | 6.10% | 6.24% | 6.60% | 6.77% |
| 272 days to < 1 year | 6.35% | 6.50% | 6.85% | 7.03% |
| 1 year to < 18 months | 7.25% | 7.45% | 7.75% | 7.98% |
| 18 month < 24 months | 7.50% | 7.71% | 8.00% | 8.24% |
| 24 months to < 36 months | 7.25% | 7.45% | 7.75% | 7.98% |
| 36 months to < 60 months | 7.25% | 7.45% | 8.00% | 8.24% |
| 60 months | 7.25% | 7.45% | 8.00% | 8.24% |
| 60 months 1 day to <= 120 months | 7.00% | 7.19% | 7.75% | 7.98% |
IndusInd Bank has revised interest rates on Fixed Deposit Interest Rate Less Than 2 Crs. The Domestic /NRO/ NRE/Senior Citizen Fixed Deposit Rates (all in %) w.e.f. 1st October 2023, said the bank.
| Less than 2 Cr* (Domestic /NRO/NRE deposits) | Less than 2 Cr* (Senior Citizen)Not applicable for NRE/NRO deposits | |
|---|---|---|
| Tenure | Rate | Rate |
| 7 days to 14 days | 3.50 | 4.25 |
| 15 days to 30 days | 3.50 | 4.25 |
| 31 days to 45 days | 3.75 | 4.50 |
| 46 days to 60 days | 4.25 | 5.00 |
| 61 days to 90 days | 4.60 | 5.35 |
| 91 days to 120 days | 4.75 | 5.50 |
| 121 days to 180 days | 5.00 | 5.75 |
| 181 days to 210 days | 5.85 | 6.60 |
| 211 days to 269 days | 6.10 | 6.85 |
| 270 days to 354 days | 6.35 | 7.10 |
| 355 days to 364 days | 6.35 | 7.10 |
| 1 Year to below 1 Year 6 Months | 7.50 | 8.25 |
| 1 Year 6 Months to below 1 Year 7 Months | 7.85 | 8.25 |
| 1 Year 7 months up to 2 Years | 7.50 | 8.25 |
| Above 2 Years up to 2 Years 1 Month | 7.25 | 8.00 |
| Above 2 Years 1 Month to below 2 years 6 Months | 7.25 | 8.00 |
| 2 years 6 Months to below 2 years 9 Months | 7.25 | 8.00 |
| 2 years 9 Months to 3 years 3 months | 7.25 | 8.00 |
| Above 3 years 3 months to below 61 month | 7.25 | 8.00 |
| 61 month and above | 7.00 | 7.75 |
| Indus Tax Saver Scheme (5 years) | 7.25 | 8.00 |
RBI’s three-day bi-monthly monetary policy committee (MPC) meeting started on October 4 amidst market speculations that the central bank might pause key interest rates this time too.
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According to SBI Research, the Indian central bank is expected to yet again pause the key repo rate this week. “Domestically, we believe at 6.50 per cent, we are in for a prolonged pause as seasonality of inflation is tapering first…,” SBI Research report, authored by Soumya Kanti Ghosh, Group Chief Economic Adviser, said recently.
