New Delhi: Revised FD rates were notified by three public sector banks in October 2024. India’s second largest public sector bank PNB, Punjab and Singh Bank as well as the Bank of Baroda shared revised FD rates recently.
Banks have been making FDs more lucrative by introducing special FD schemes apart from offering higher interest rates on longer tenures in line with RBI’s directions to raise funds via conventional means instead of tapping risky alternative sources.
PNB revised FD rates
Punjab National Bank has notified a revision in FD rates across tenures. The lender is offering the highest FD rate of 7.25 per cent to general depositors on deposits of 400-day tenures. Senior citizens and super senior citizens will earn 0.50 per cent and 0.80 per cent more on the same FD tenure.
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
7 to 14 Days
3.5
4
4.3
15 to 29 Days
3.5
4
4.3
30 to 45 Days
3.5
4
4.3
46 to 60 Days
4.5
5
5.3
61 to 90 Days
4.5
5
5.3
91 to 179 Days
5.5
6
6.3
180 to 270 Days
6.25
6.75
7.05
271 Days to 299 Days
6.5
7
7.3
300 Days
7.05
7.55
7.85
301 Days to < 1 Year
6.5
7
7.3
1 Year
6.8
7.3
7.6
> 1 Year to 399 days
6.8
7.3
7.6
400 Days
7.25
7.75
8.05
401 Days to 2 Years
6.8
7.3
7.6
> 2 years to 3 years
7
7.5
7.8
> 3 years to 1203 days
6.5
7
7.3
1204 days**
6.4
6.9
7.2
1205 days to 5 years
6.5
7
7.3
> 5 years to 1894 days
6.5
7.3
7.3
1895 days**
6.35
7.15
7.15
1896 days to 10 years
6.5
7.3
7.3
Punjab and Sindh Bank special FD rates
Punjab and Sindh Bank FD rates have been revised effective October 1, 2024. FDs with a tenure of 180 days or more will earn 0.50 per cent higher interest for senior citizens, according to the bank’s website. This applies to fixed deposits valued up to Rs 3 crore.
The highest interest rate is being offered on 66-day deposits at 7.30 per cent for general depositors. Super senior citizens will earn an extra 0.15 per cent interest rate on 666-day FDs as well as other similar special FDs, according to Punjab & Sindh Bank’s website.
Maturity
Fixed DepositLess 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-<1 Year
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<998 days
6.3
999 days
6.65
1000 Days < 3 years
6.3
3 years – 5 years
6
>5 years – 10 years
6.25
Bank of Baroda revised FD rates
The Bank of Baroda has revised FD rates across tenures. The lender is offering the highest interest rates on FDs of 2 years year and up to 3 years’ tenure. Senior citizens will earn 0.50 per cent additional interest on this tenure, according to the bank website. The new FD rates are effective October 3, 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 360 Days)
6.5
7.00*
360 Days (bob360)
7.1
7.60*
1 year
6.85
7.35*
Above 1 year 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
Court Order schemes only)
6.25
6.75*
Punjab National Bank, Punjab & Sindh Bank, and the Bank of Baroda revised their FD rates in October. Check latest fixed deposit rates here. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
