As the Reserve Bank of India (RBI) convenes its December Monetary Policy Committee (MPC) meeting, scheduled from December 4 to 6, several banks have announced revised interest rates for their fixed deposit (FD) schemes. These revisions aim to attract depositors ahead of potential policy changes.
Karnataka Bank FD Interest Rates
Karnataka Bank updated its fixed deposit interest rates on December 2, with rates ranging from 3% to 8% per annum based on tenure. Senior citizens enjoy higher returns, with a maximum rate of 8% for deposits of 375 days.
For the general public:
7 to 45 days: 3.50% 46 to 90 days: 4.00% 91 to 179 days: 5.25% 180 days to below 1 year: 6.25% 1 to 2 years: 7.25% 375 days (FD & ACC): 7.50% Above 2 to 5 years: 6.50% Above 5 to 10 years: 5.80% For senior citizens: 375 days (FD & ACC): 8.00% 1 to 2 years: 7.75% Above 2 to 5 years: 7.00% Above 5 to 10 years: 6.30% Canara Bank FD Interest RatesEffective December 1, Canara Bank offers rates between 4% and 7.4% for the general public, with a 0.50% premium for senior citizens on longer tenures. The highest rate of 7.4% is applicable for deposits of 3 to 5 years.
For the general public and senior citizens:
7 to 45 days: 4.00% 46 to 90 days: 5.25% 91 to 179 days: 5.50% 180 to 269 days: 6.15% (6.65% for seniors) 270 days to less than 1 year: 6.25% (6.75% for seniors) 1 year only: 6.85% (7.35% for seniors) 444 days: 7.25% (7.75% for seniors) 3 to 5 years: 7.40% (7.90% for seniors) 5 to 10 years: 6.70% (7.20% for seniors)IndusInd Bank FD Interest Rates
IndusInd Bank adjusted its rates on November 26, offering interest up to 8.49% for senior citizens. The highest rate applies to tenures of 17 to 18 months.
For the general public and senior citizens:
7 to 14 days: 3.50% (4.00% for seniors) 15 to 30 days: 3.50% (4.00% for seniors) 1 year 5 months to below 1 year 6 months: 7.99% (8.49% for seniors) 1 year 6 months up to 2 years: 7.75% (8.25% for seniors) 5 years (Tax Saver): 7.25% (7.75% for seniors)IDFC First Bank FD Interest Rates
IDFC First Bank revised its rates on November 26, offering returns up to 8.40% for senior citizens on select tenures.
For the general public and senior citizens:
7 to 14 days: 3.00% (3.50% for seniors) 181 days to less than 1 year: 5.75% (6.25% for seniors) 400 to 500 days: 7.90% (8.40% for seniors) 5 years (Tax Saver): 7.25% (7.75% for seniors)These competitive rates underscore the banks' focus on offering attractive savings options to depositors while catering to diverse financial goals.
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