Senior Citizen FD interest rate hike in October 2023: Many banks have increased the interest on FD for general and senior citizens in the month of October. Has revised its FD rates for senior citizens. Here we are telling you about those banks which have recently increased the interest on Fixed Deposit. So far in the month of October, 9 banks have revised the interest rates on FD.
Unity Bank
Unity Small Finance Bank Limited (Unity Bank) has increased its interest rate on FD of 701 days. The bank is now offering 9.45% interest to senior citizens. They are offering 8.95 percent interest per annum on investment of 701 days.
Bank of Baroda
Bank of Baroda has increased the interest rates on term deposits by 0.50 per cent on FD for 3 years. Now banks are giving interest up to 7.9% to senior citizens on FD of 2 to 3 years. Under the Tricolor Plus Deposit Scheme, Bank of Baroda is offering 7.8% interest to senior citizens for 399 days FD.
Bank of Maharashtra
Bank of Maharashtra has increased FD rates on deposits of 46-90 days by 125 bps i.e. 1.25 percent. The bank is now offering 4.75 percent interest on short term FDs as against 3.50 percent.
Canara Bank
- Canara Bank has revised its FD rates from October 5. It is now giving interest up to 7.75% to senior citizens.
- Yes Bank: From October 4, Yes Bank is offering FD interest rates up to 8% to senior citizens.
- Karnataka Bank: From October 1, Karnataka Bank is offering FD interest rates of up to 7.75% to senior citizens.
- IndusInd Bank: From October 1, IndusInd Bank is offering interest on FD up to 8.25% to senior citizens.
- IDFC First Bank: From October 1, IDFC First Bank is offering FD interest rates up to 8% to senior citizens.
- Bank of India: From October 1, Bank of India is offering up to 7.75% interest on FD to senior citizens.
