Three banks revise FD rates in October 2024: Get up to 8.05% interest on fixed deposits – check latest rates

By
Nilesh Desai
-
0
140


We check out the revised FD rates of those banks. (AI picture)

Latest FD rates: In October 2024, three main Indian banks – Punjab National Bank, Punjab & Sindh, and Bank of Baroda – have introduced revisions to their fixed deposit interest rates. We check out the revised FD rates of those banks, as listed by ET:

Punjab National Bank: Latest Fixed Deposit Rates

  • Following the revisions, Punjab National Bank’s fixed deposit interest rates vary from 3.50% to 7.25% for tenures spanning 7 days to 10 years for basic residents.
  • Senior residents can avail interest rates between 4% and seven.75%, whereas tremendous senior residents are provided rates starting from 4.30% to 8.05%.
  • The financial institution’s highest interest price of seven.25% for basic residents, 7.75% for senior residents, and eight.05% for tremendous senior residents is relevant on the 400-day tenure. These revised rates got here into impact from October 1, 2024.

Sl. No Period Revised Rates For Public w.e.f. 01.10.2024 *Revised Rates for Senior Citizens w.e.f. 01.10.2024 #Revised Rates for Super Senior Citizens w.e.f. 01.10.2024
1 7 to 14 Days 3.5 4 4.3
2 15 to 29 Days 3.5 4 4.3
3 30 to 45 Days 3.5 4 4.3
4 46 to 60 Days 4.5 5 5.3
5 61 to 90 Days 4.5 5 5.3
6 91 to 179 Days 5.5 6 6.3
7 180 to 270 Days 6.25 6.75 7.05
8 271 Days to 299 Days 6.5 7 7.3
9 300 Days 7.05 7.55 7.85
10 301 Days to 6.5 7 7.3
11 1 Year 6.8 7.3 7.6
12 > 1 Year to 399 days 6.8 7.3 7.6
13 400 Days 7.25 7.75 8.05
14 401 Days to 2 Years 6.8 7.3 7.6
15 > 2 years to 3 years 7 7.5 7.8
16 > 3 years to 1203 days 6.5 7 7.3
17 1204 days** 6.4 6.9 7.2
18 1205 days to 5 years 6.5 7 7.3
19 > 5 years to 1894 days 6.5 7.3 7.3
20 1895 days** 6.35 7.15 7.15
21 1896 days to 10 years 6.5 7.3 7.3

Punjab & Sind Bank: Latest Fixed Deposit Rates

Punjab & Sind gives fixed deposit interest rates starting from 2.80% to 7.25% for tenures spanning 7 days to 10 years for basic clients.These rates have been in impact since October 1, 2024.
As per the financial institution’s web site, “Senior Citizens shall be given benefit of additional interest of 0.50% on term deposits of less than Rs. 3 crore, over and above the mentioned rates for the maturity of 180 days & above on fresh as well as on renewal of term deposits, same shall not be available to NRE, NRO deposits, capital gain and Bulk deposits.”
Furthermore, Punjab & Sind gives Super Senior Citizens an extra interest good thing about 0.15% on particular interval Term Deposits (i.e., 222 Days, 333 Days, 444 Days, 666 Days, 999 Days) of lower than Rs. 3 crore.

Revised w.e.f. 01/10/2024 (% p.a.)
Maturity Fixed Deposit
Less than Rs.3 Cr
7 – 14 Days 2.80(#)
15 – 30 Days 2.8
31 – 45 Days 3
46 – 90 Days 4.25
91 – 120 Days 4.25
121-150 Days 4.75
151 – 179 Days 4.75
180 – 221 Days 5.25
222 Days 6.30($)
223 – 269 Days 5.25
270 – 332 Days 5.5
333 Days 7.15($)
334- 5.5
1 Year 6.3
>1 Years – 443 Days 6
444 Days 7.25($)
445 Days – 665 Days 6
666 days 7.3
667 Days-2 years 6
Above 2 years 6.3
999 days 6.65
1000 Days 6.3
3 years – 5 years 6
>5 years – 10 years 6.25

Bank of Baroda: Latest Fixed Deposit Rates

Bank of Baroda gives fixed deposit interest rates that adjust primarily based on the tenure and the shopper’s age. For most of the people, the interest rates vary from 4.25% to 7.15% for tenures spanning from 7 days to 10 years. Senior residents, on the opposite hand, can profit from larger interest rates, starting from 4.75% to 7.60%. These up to date rates have been in impact since October 3, 2024.
The Bank of Baroda web site states, “(* incl. additional ROI 0.50% for RTD upto 3 Years and Above 10 Years, # incl. additional ROI of 0.50+0.15 for RTD above 3 Years and upto 5 Years, ** incl. additional ROI of 0.50%+0.50% for RTD above 5 Years and upto 10 Years to Resident Senior Citizens)”

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 fewer than 1 yr (besides 360 Days) 6.5 7.00*
360 Days (bob360) 7.1 7.60*
1 yr 6.85 7.35*
Above 1 yr to 400 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 solely


RELATED ARTICLESMORE FROM AUTHOR

LEAVE A REPLY

Please enter your comment!
Please enter your name here