Synopsis
In May 2024, many banks, including Utkarsh Small Finance Bank (SFB), City Union Bank, RBL Bank, and Capital Small Finance Bank, revised their fixed deposit interest rates. Here is a list of banks and their revised FD rates in May, with the highest interest rates and tenures.
ET OnlineIn May 2024, many banks, including Utkarsh Small Finance Bank (SFB), City Union Bank, RBL Bank, and Capital Small Finance Bank, revised their fixed deposit interest rates.
Here is a list of banks and their revised FD rates in May, with the highest interest rates and tenures.
Utkarsh Small Finance Bank FD interest rates
Utkarsh Small Finance Bank revised its fixed deposit interest rates for amounts below Rs 2 crore. The revised rates are effective from May 1, 2024. After the revision, the bank offers an interest rate between 4 percent and 8.50 percent for general citizens. For senior citizens, the bank offers an interest rate between 4.60 percent and 9.10 percent. The highest interest rate of 8.50 percent and 9.10 percent is offered on tenures of 2 years to 3 years.
Earn up to 9.50% interest rate: Senior Citizen Saving Scheme (SCSS) vs FD; interest rates, tax benefits, deposit limit compared
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| Sr. | Regular | Senior Citizens | |
| No. | Tenure | Interest Rate | Interest Rate |
| 1 | 7 Days to 45 Days | 4.00% | 4.60% |
| 2 | 46 Days to 90 Days | 4.75% | 5.35% |
| 3 | 91 Days to 180 Days | 5.50% | 6.10% |
| 4 | 181 Days to 364 Days | 6.50% | 7.10% |
| 5 | 365 Days to 699 Days | 8.00% | 8.60% |
| 6 | 700 Days to less than 2 Years | 8.25% | 8.85% |
| 7 | 2 Years (730 Days) to 3 Years (1096 | 8.50% | 9.10% |
| Days) | |||
| 8 | Above 3 Years to less than 4 Years | 8.25% | 8.85% |
| 9 | 4 Years (1461 Days) upto 5 Years | 7.75% | 8.35% |
| (1826 Days) | |||
| 10 | Above 5 Years to 10 Years | 7.25% | 7.85% |
RBL Bank FD interest rates
The RBL Bank has revised fixed deposit interest rates for amounts below Rs 2 crore. The revised FD interest rates are effective from May 1, 2024.
RBL Bank offers the highest interest rate of 8% on FDs maturing between 18 and 24 months. On the same FD tenure, the senior citizen will earn 0.50% extra i.e., 8.50%, and super senior citizens (80 years and above) are eligible for an additional interest rate of 0.75% i,e., 8.75%.
| Period of Deposit | Domestic & Flexi FD Interest Rates p.a. | Senior Citizen Interest Rates p.a. |
| 7 days to 14 days | 3.50% | 4.00% |
| 15 days to 45 days | 4.00% | 4.50% |
| 46 days to 90 days | 4.50% | 5.00% |
| 91 days to 180 days | 4.75% | 5.25% |
| 181 days to 240 days | 5.50% | 6.00% |
| 241 days to 364 days | 6.05% | 6.55% |
| 365 days to 452 days (12 months to less than 15 months) | 7.50% | 8.00% |
| 453 days to 545 days (15 months to less than 18 months) | 7.80% | 8.30% |
| 546 days to 24 months (18 months to 24 months) | 8.00% | 8.50% |
| 24 months 1 day to 36 months | 7.50% | 8.00% |
| 36 months 1 day to 60 months 1 day | 7.10% | 7.60% |
| 60 months 2 days to 120 months | 7.00% | 7.50% |
Capital Bank Small Finance Bank FD interest rates
Capital Small Finance Bank has revised fixed deposit interest rates for amounts below Rs 2 crore. The revised FD interest rates are effective from May 6, 2024. The bank offers general citizens an interest rate between 3.5 percent and 7.55 percent. The bank offers an interest rate between 4 percent and 8.05 percent for senior citizens. The highest interest rate is offered on the tenure of 400 days.
| Tenue | General citizens | Senior citizens |
| 15 Days to 30 Days | 3.50% | 4.00% |
| 31 Days to 45 Days | 3.50% | 4.00% |
| 46 Days to 89 Days | 4.00% | 4.50% |
| 90 Days to 179 Days | 4.75% | 5.25% |
| 180 Days to less than 1 Year | 5.50% | 6.00% |
| 1 Year to less than 5 Years | 7.15% | 7.65% |
| 5 Years and upto 10 Years | 7.10% | 7.60% |
| 12 Months | 7.50% | 8.00% |
| 400 Days | 7.55% | 8.05% |
| 600 Days | 7.40% | 7.90% |
| 900 Days | 7.30% | 7.80% |
City Union Bank FD interest rates
City Union Bank has revised fixed deposit interest rates for amounts below Rs 2 crore. The revised FD interest rates are effective from May 6, 2024. The bank offers an interest rate between 5 percent and 7.25 percent for general citizens and between 5 percent and 7.75 percent for senior citizens. The highest interest rate of 7.25 percent and 7.75 percent is offered on the tenure of 400 days.
| Period | Rate of Interest % p.a | |
| General | Senior Citizens | |
| 7 days to 14 days | 5.00% | 5.00% |
| 15 days to 45 days | 5.50% | 5.50% |
| 46 days to 90 days | 5.75% | 5.75% |
| 91 days to 180 days | 6.00% | 6.00% |
| 181 days to 270 days | 6.25% | 6.50% |
| 271 days to 364 days | 6.50% | 6.75% |
| 365 days to 399 days | 7.00% | 7.25% |
| 400 days | 7.25% | 7.75% |
| 401 days to 3 Years | 6.50% | 6.75% |
| Above 3 Years upto 10 Years | 6.25% | 6.50% |
| Tax Saver | 7.10% | 7.10% |
( Originally published on May 10, 2024 )
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