New Delhi: Federal Bank, Karnataka Bank and the Union Bank of India have revised their FD rates effective August 1-2, 2024. Banks are revising their FD rates amid expectations of the RBi keeping the repo rate higher for longer. This has led banks to hike FD rates to entice depositors to park their money in banks, and allow banks to raise capital for extending loans.
Union Bank of India revised FD rates
The Union Bank of India has revised FD rates effective August 2, 2024, on retail term deposits up to RS 3 crore with the highest rate on interest being 7.40 per cent for general depositors on a 333 day tenor under the SUM Vriddhi deposit scheme. Senior citizens can earn up to 7.90 per cent interest on the same tenor. Super senior citizens will earn 8.15 per cent interest on the same tenor.
Live life on your own terms as you earn interesting returns by investing in Retail Term Deposit.
Know More: https://t.co/7za13YVCTg#UnionBankOfIndia #GoodPeopleToBankWith pic.twitter.com/m8vtFblerW
— Union Bank of India (@UnionBankTweets) August 1, 2024
Check revised rates here:
Period
Rates in % per annum
< Rs. 3 Cr
7-14 Days
3.5
15-30 Days
3.5
31-45 Days
3.5
46-90 Days
4.5
91-120 Days
4.8
121-180 Days
5
181 Days to < 332 days
6.35
333 days
7.4
334 days to < 1 year
6.35
1 year
6.8
>1 year to 398 Days
6.8
399 Days
7.25
400 Days to 2 year
6.6
> 2 year to 996 days
6.6
997 days
6.4
>998 days to less than 3 Years (except for 999 days @ 6.40)
6.6
3 years
6.7
> 3 Year to 5 years
6.5
>5 Years to 10 Years
6.5
Federal Bank revised FD rates from August 2
Federal Bank FD rates have been revised with effect from August 2, 2024. The highest interest rate is offered on tenures of 777 days and 50 months at 7.40 per cent for general depositors and 7.90 per cent for senior citizens.
Discover new horizons with our new term deposit rates. Your financial journey just got a lot more exciting!
Visit: https://t.co/qJFKpdc1ON to know more#FederalBank #TermDeposit pic.twitter.com/2gMFfDUMA5
— Federal Bank Ltd (@FederalBankLtd) July 30, 2024
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 270 days
5.75%
6.25%
271 days to less than 1 year
6.00%
6.50%
1 year to 399 days
6.80%
7.30%
13 months to 399 days
7.20%
7.70%
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 FD rates
Karnataka Bank has revised its FD rates with effect from August 2, 2024. The lender offers 7.25 per dent interest to general depositors on a tenor of 375 days, while senior citizens can earn up to 0.50 per cent more of 7.75 per cent returns on the same tenor. Here is the full list of revised rates for different deposit caps:
Maturity period
Interest rate (% p.a.) for deposits below ₹ 3 crore
Interest rate (% p.a.) for deposits ₹3 crore up to ₹5 crore
Interest rate (% p.a.) for deposits above ₹5 crore up to ₹10 crore
7 days to 45 days
3.5
3.5
3.5
46 days to 90 days
4
5.25
6
91 days to 179 days
5.25
6.75
6.75
180 days to below 1 year
6.75
6.75
6.75
250 days only
6.95
6.95
6.95
1 year to 2 years
7.1
7.1
7.1
375 days (FD & ACC)*
7.25
7.25
7.25
Above 2 years to 5 years
6.5
6.5
6.5
Above 5 years to 10 years
5.8
5.8
5.8
Karnataka Bank, Union Bank of India, and Federal Bank have revised their FD rates with effect from August 1-2, 2024. Check revised FD rates here. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
