4 banks raise Fixed Deposit interest rates: Details here

Srinagar: At least four banks have floated new fixed deposit schemes and revised the earlier rates ahead of the Reserve Bank of India’s Monetary Policy Meeting to be held next week. The RBI’s MPC will start on June 5, just a day after the Lok Sabha election results would be announced. According to an RBI document accessed by Ziraat Times, the following banks have raised their fixed deposit interest rates as per the below details:

Bank of India’s 666 days FD

Bank of India has launched a special FD plan called ‘666 Days – Fixed Deposit’. The scheme offers impressive returns on deposits as high as 7.95% per annum for super senior citizens for 666 days for deposit amount of less than Rs 2 crore. Senior citizens to get 7.8% interest per annum. General customers will get 7.3% per annum on this FD scheme.

Indian Bank FD schemes

Indian Bank has introduced special fixed deposit schemes: Ind Supreme 300 Days and Ind Super 400 Days. The 300-day FDs offer 7.05% interest for the public, 7.55% for seniors, and 7.80% for super seniors. The 400-day FDs provide 7.25% for the public, 7.75% for seniors, and 8% for super seniors. The last date to invest in these FDs is June 30, 2024.

IDBI Bank special FDs

IDBI Bank provides special rates for Utsav fixed deposits. For 300-day maturity, general citizens get 7.05% and seniors get 7.55%. For 375 days, rates are 7.1% and 7.6% respectively. 444-day maturity offers 7.2% for general customers and 7.7% for seniors. Valid until June 30, 2024.

Punjab and Sindh Bank Fixed Deposits  

Punjab and Sindh Bank has floated special fixed deposits for various tenures. The bank offers 7.05% on FDs maturing in 222 days, 7.10% on deposits maturing in 333 days, and 7.25% on special deposits maturing in 444 days. The last date to invest in special FDs will be June 30, 2024.