List of Indian banks that hiked interest rates on fixed deposits in December 2023
Several banks in India have hiked interest rates on fixed deposits in December 2023, including Bank of Baroda, State Bank of India, Union Bank of India, DCB Bank, Kotak Mahindra Bank, Federal Bank, and Bank of India The Reserve Bank of India (RBI) maintains the key repo rate at 65 per cent for the fifth consecutive time in the December 8 MPC meeting, Here is a list of seven banks that have hiked interest rates on fixed deposits in December 2023 Bank of Baroda hikes FD rates in December 2023 has hiked interest rates on retail term deposits from 10 basis points to up to 125 basis points on various maturity buckets.
These rates are applicable on deposits below 2 crore with effect from today, December 29 After the latest hike, BoB offers an interest range ranging from 425 % to 7.
255 to general customers Bank of Baroda offers senior citizens an interest rate ranging from 475% to 7.
75% on deposits maturing in seven days to ten years in December 2023 The State Bank of India (SBI) has hiked interest rates on fixed deposits (FDs) This interest rate is applicable on FDs below 2 crore.
The new rate is effective from today, 27 December 2023 After the latest hike, SBI offers rates ranging from 35 to 7% on deposits maturing in seven days to ten years.
Senior citizens will get 50 basis points (bps) extra on these deposits Union Bank hikes FD rates in December 2023 hiked interest rates by up to 25 basis points (bps) on its fixed deposits (FDs) on certain tenures for amounts less than 2 crore These rates are with effect from December 27.
3% 725% on FDs maturing in seven days to ten years hikes FD rates in December 2023 DCB Bank has hiked fixed deposit interest rates on select tenors for deposits below 2 crore The new rates are effective from 13 December as per the DCB Bank website.
The bank is offering the highest FD interest rate of 8% to general customers and 860% for senior citizens, after the revision After the latest hike, DCB Bank is offering an interest rate ranging from 3.
75% to 8% on FDs maturing in seven days to ten years to general customers, and 425% to 860% to elderly people.
Kotak Bank hikes FD rates in December 2023 Kotak Mahindra Bank increased interest rates on tenors ranging from three to five years After the latest revision, Kotak Bank offers an interest rate of 275% to 7.
25% for general customers on deposits maturing in seven days to ten years, and 335% to 780% for senior citizens on these deposits.
These rates are effective from 11 December 2023 https://wwwlivemint.
com/money/personal-finance/these-two-banks-hike-fixed-deposit-rates-check-latest-fd-rates-here-11702522585001html hikes FD rates in December 2023 has revised its deposit interest rates effective from December 5, 2023 For deposits made by both residents and non-residents, the interest rate has been raised to 7.
50% for 500 days For senior citizens, Federal Bank is now giving a maximum return of 815% for 500-day tenures and 7.
80% for tenures beyond 21 months to less than three years These four banks increased rates on fixed deposits this month Bank of India hiked its fixed deposits for its customers & general public (for 2 crore and above to less than Rs.
10 crore) with effect from 1st December, 2023 Bank of India has increased its fixed deposit rates for shorter periods ie.
“46 days to 90 days" tenure to 525%, “91 days to 179 days" tenure to 600%, for “180 days to 210 days" tenure to 6.
25%, for “211 days to less than 1 Year" tenure to 650% and for “1 Year" tenure to 725% p.
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