Senior Citizen fixed deposit interest rate hike October 2023: Several banks have revised their fixed deposit interest rates for general and senior citizens this month.
Senior Citizen fixed deposit interest rate hike in October 2023: Several banks have revised their fixed deposit interest rates for general and senior citizens this month. The following is a compilation of FD rates revised by various banks in October.
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Unity Bank
Unity Small Finance Bank Limited (Unity Bank) has increased its interest rate on fixed deposits for 701 days. The bank is now offering senior citizens an attractive rate of 9.45% p.a. on fixed deposits invested for 701 days, whereas general investors will earn 8.95% p.a. for the same duration.
On deposits of 1001 days, Unity Bank is offering 9.5% interest to senior citizens and 9% to others.
Bank of Baroda
Bank of Baroda has hiked interest rates on Domestic Retail Term Deposits, including NRO and NRE Term Deposits, by up to 50 basis points across various tenors of up to 3 years. It is now offering up to 7.9% interest to senior citizens on deposits of 2 to 3 years. For deposits of 399 days under Tiranga Plus Deposit Scheme, BoB is offering 7.8% interest to senior citizens.
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Bank of Maharashtra
Bank of Maharashtra has increased FD rates by up to 125 bps on deposits of 46-90 days. It is now offering 4.75 per cent on these short-term deposits against 3.50 per cent earlier.
Canara Bank: Canara Bank revised its FD rates w.e.f October 5. It is now offering up to 7.75% interest to senior citizens.
Yes Bank: With effect from October 4, Yes Bank is offering up to 8% FD interest rate to senior citizens.
Karnataka Bank: With effect from October 1, Karnataka Bank is offering up to 7.75% FD interest rate to senior citizens.
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Indusind Bank: With effect from October 1, Indusind Bank is offering up to 8.25% FD interest rate to senior citizens.
IDFC First Bank: With effect from October 1, IDFC First Bank is offering up to 8% FD interest rate to senior citizens.
Bank of India: With effect from October 1, the Bank of India is offering up to 7.75% FD interest rate to senior citizens.
Disclaimer: The above content is for informational purposes only. Fixed deposit interest rates are subject to change. Please check with the respective banks for their latest interest rates.
