Fixed deposits provide a reliable investment opportunity with interest rates that surpass those of standard savings accounts. Once an investor commits to a fixed deposit, the interest rate remains fixed for the entire term of the deposit. This predictability enables investors to accurately forecast their earnings and make well-informed financial decisions.
Several banks have adjusted their fixed deposit interest rates during the month of September, according to an ET report.
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Bank of Baroda: Latest FD Rates
Bank of Baroda offers fixed deposit interest rates between 4.25% to 7.30% for general citizens for tenure ranging from 7 days to 10 years. For senior citizens, the bank offers an interest rate between 4.75% to 7.80%. The rates are applicable from September 5, 2024.
| Tenors | Residents / General Public | Resident Indian Sr. Citizen |
| 7 days to 14 days | 4.25 | 4.75* |
| 15 days to 45 days | 4.5 | 5.00* |
| 46 days to 90 days | 5.5 | 6.00* |
| 91 days to 180 days | 5.6 | 6.10* |
| 181 days to 210 days | 5.75 | 6.25* |
| 211 days to 270 days | 6.25 | 6.75* |
| 271 days & above and less than 1 year (except 333Days and 360 Days) | 6.5 | 7.00* |
| 333 Days (bob Monsoon Dhamaka Deposit Scheme) | 7.15 | 7.65* |
| 360 Days (bob360) | 7.1 | 7.60* |
| 1 year | 6.85 | 7.35* |
| 399 Days (bob Monsoon Dhamaka Plus Deposit Scheme) | 7.3 | 7.80* |
| Above 1 year to 400 days (Except 399 Days) | 7 | 7.50* |
| Above 400 days and upto 2 Years | 7 | 7.50* |
| Above 2 Years and upto 3 Years | 7.15 | 7.65* |
| Above 3 Years and upto 5 Years | 6.5 | 7.15 # |
| Above 5 Years and upto 10 Years | 6.5 | 7.50** |
| Above 10 years (MACT/MACAD | 6.25 | 6.75* |
| Court Order schemes only) |
Axis Bank: Latest FD Rates
Axis Bank offers fixed deposit interest rates between 3% to 7.25% for general citizens for tenure ranging from 7 days to 10 years. For senior citizens, the bank offers an interest rate between 3.5% to 7.75%. The rates are applicable from September 10, 2024.
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IndusInd Bank: Latest FD Rates
IndusInd Bank offers fixed deposit interest rates between 3.5% to 7.99% for general citizens for tenure ranging from 7 days to 10 years. For senior citizens, the bank offers an interest rate between 4% to 8.25%. The rates are applicable from September 11, 2024.
| < 3 Cr* DOMESTIC(RESIDENT) NRE/NRO deposits | < 3 Cr* (Senior Citizen) | |
| Tenure | Rate | Rate |
| 7 days to 14 days | 3.5 | 4 |
| 15 days to 30 days | 3.5 | 4 |
| 31 days to 45 days | 3.75 | 4.25 |
| 46 days to 60 days | 4.75 | 5.25 |
| 61 days to 90 days | 4.75 | 5.25 |
| 91 days to 120 days | 4.75 | 5.25 |
| 121 days to 180 days | 5 | 5.5 |
| 181 days to 210 days | 5.85 | 6.35 |
| 211 days to 269 days | 6.1 | 6.6 |
| 270 days to 354 days | 6.35 | 6.85 |
| 355 days to 364 days | 6.5 | 7 |
| 1 Year to below 1 Year 3 months | 7.75 | 8.25 |
| 1 Year 3 months (15 months) to below 1 Year 4 months (16 months) | 7.75 | 8.25 |
| 1 Year 4 months to below 1 Year 6 months | 7.99 | 8.25 |
| 1 Year 6 Months up to 2 Years | 7.75 | 8.25 |
| Above 2 Years to below 2 Years 6 Month | 7.25 | 7.75 |
| 2 years 6 Months (30 months) to below 2 years 7 months (31 months) | 7.25 | 7.75 |
| 2 year 7 months to 3 years 3 months | 7.25 | 7.75 |
| Above 3 years 3 months to below 61 month | 7.25 | 7.75 |
| 61 month and above | 7 | 7.5 |
| Indus Tax Saver Scheme (5 years) | 7.25 | 7.75 |
Federal Bank: Latest FD Rates
Federal Bank offers fixed deposit interest rates between 3% to 7.40% for general citizens for tenure ranging from 7 days to 10 years. For senior citizens, the bank offers an interest rate between 3.5% to 7.90%. The rates are applicable from September 16, 2024.
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| Period | Single Deposit Less than ₹300 Lakhs – General Public | Single Deposit Less than ₹300 Lakhs – Senior Citizen |
| 7 days to 29 days | 3.00% | 3.50% |
| 30 days to 45 days | 3.25% | 3.75% |
| 46 days to 60 days | 4.00% | 4.50% |
| 61 days to 119 days | 4.75% | 5.25% |
| 120 days to 180 days | 5.00% | 5.50% |
| 181 days | 6.50% | 7.00% |
| 182 days to less than 1 year | 6.25% | 6.75% |
| 1 year to 399 days | 6.80% | 7.30% |
| 400 days | 7.35% | 7.85% |
| 401 days to 776 days | 7.05% | 7.55% |
| 777 days | 7.40% | 7.90% |
| 778 days to less than 3 years | 7.05% | 7.55% |
| 3 years to less than 50 months | 7.00% | 7.50% |
| 50 Months | 7.40% | 7.90% |
| Above 50 months to less than 5 years | 7.00% | 7.50% |
| 5 years and above | 6.60% | 7.25% |
Karnataka Bank: Latest FD Rates
Karnataka Bank offers fixed deposit interest rates between 3.5% to 7.50% for general citizens for tenure ranging from 7 days to 10 years. According to the bank website, “Resident senior citizens get extra 0.25% above general rate up to & inclusive of ?5 crore only under domestic FD and ACC Schemes (Not for deposit under NRE/NRO/FCNR(B) accounts) for a tenure of 7 days to below 1 years, and extra 0.50% above general rate for tenure 1 year to 10 years.”
| Maturity period | Interest rate (% p.a.) for deposits below ₹ 3 crore |
| 7 days to 45 days | 3.5 |
| 46 days to 90 days | 4 |
| 91 days to 179 days | 5.25 |
| 180 days to below 1 year | 6.25 |
| 250 days only | 6.75 |
| 1 year to 2 years | 7.35 |
| 375 days (FD & ACC) | 7.5 |
| Above 2 years to 5 years | 6.5 |
| Above 5 years to 10 years | 5.8 |
