Fixed Deposit: DCB Bank, State Bank of India and IDFC First Bank have revised FD rates. SBI has increased the rates by up to a quarter percent in FDs of certain periods.
If you are planning to invest your money in fixed deposits, then note that in the month of May, many banks have revised their rates, including SBI, DCB Bank, IDFC First Bank. Read full information related to the offers of these banks
DCB Bank
DCB Bank has revised the rates of FD rates of less than Rs 2 crore. The new rates will be applicable from May 22, the bank is currently giving the highest interest on FDs of 19 months to 20 months. The bank is offering 8.05 percent interest to common people and 8.55 percent interest to senior citizens.
IDFC First Bank
The bank has revised the rates on FDs of less than Rs 2 crore. The new rates will be applicable from May 15. Currently, the bank is offering interest ranging from 3% to 7.9% to common citizens and FDs are for 7 days to 10 years. An additional half percent is being offered for senior citizens. The highest interest rates are being offered for 500 days FD where common citizens are getting 7.9% and senior citizens are getting 8.4% interest.
SBI
State Bank of India has increased its FD rates for a specific period. The new rates have come into effect from May 15. For FDs of 180 days to 210 days, the interest rates have been increased by 25 basis points to 6%. Earlier, 5.75% interest was being given.
For FDs of 211 days to less than one year, the interest rates have been increased from 6% to 6.25%. For FDs of more than one year and less than 2 years, 6.8% interest is being offered. 7 percent interest is being given for more than 2 years and less than 3 years.
