List of Banks Revised Fixed Deposit (FD) Rates In August

Here we have compiled a list of public and private sector banks that have revised their interest rates on fixed deposits of less than Rs 2 Cr in the month of August.

Canara Bank

This PSB revised its FD rates on 12.08.2023. On FDs of less than Rs 2 Cr maturing in 7 days to 10 years, Canara Bank is promising interest rates ranging from 4% to 6.70% for the general public and 4% to 7% for senior citizens. On a deposit tenure of 444 days, non-senior citizens will get a maximum return of 7.25% and senior citizens can get 7.75%.

Central Bank of India

Central Bank of India revised its FD rates on 10th August. Following the revision the bank is offering interest rates in the span of 3.50% to 6.25% for the general public and 4% to 6.75% for senior citizens on deposits maturing in 7 days to 10 years. On a deposit tenure of 1 to 3 years, non-senior citizens can receive a maximum return of 6.75% whereas senior citizens can get 7.25%.

Axis Bank

The private sector lender revised its fixed deposit interest rates on 28th August. Axis Bank is now offering interest rates from 3.50% to 7% for the general public and 6% to 7.75% for senior citizens. On an FD tenure of 13 months to 30 months, non-senior citizens can get a maximum return of 7.10% and senior citizens can get 7.85%.

DCB Bank

On 17th August, DCB Bank made a revision to its interest rates on FDs of less than Rs 2 Cr. On 7 days to 10 years of tenure, the bank is now offering interest rates ranging from 3.75% to 7.25% for the general public and 4.25% to 7.75% for senior citizens. On a deposit tenure of 700 days to 36 months, DCB Bank is promising a maximum return of 7.75% for non-senior citizens and 8.50% for senior citizens.

Dhanlaxmi Bank

On 1st August, Dhanlaxmi Bank revised its interest rates on its FD. Deposits maturing in 7 days to 10 years will now fetch interest rates ranging from 5.75% to 6.60%. On 555 Days (18 months and 7 Days) tenure, the bank will fetch a maximum return of 7.25%. All domestic term deposits of one year and above are eligible for an additional interest rate of 0.50% p.a. for elderly people.

Federal Bank

Federal Bank made an interest revision on FD on 15th August. On FD tenure of 7 days to 5 years and above, the bank is paying an interest rate of 3% to 6.60% for the general public and 3.50% to 7.25% for senior citizens. Deposits maturing in 13 months to 21 months will fetch a maximum standard rate of 7.30% and 8.07% for senior citizens.

IndusInd Bank

The private sector lender IndusInd Bank revised its interest rates on 5th August on FDs of less than Rs 2 Cr. On deposits maturing in 7 days to 61 months and above, the bank is offering interest rates ranging from 3.50% to 7% and 4.25% to 7.75% for senior citizens. Deposits maturing in 1 year to 2 years will fetch a maximum interest rate of 7.50% for the general public and 8.25% for senior citizens.

J&K Bank

The latest FD rates of Jammu and Kashmir Bank are effective as of August 11, 2023. On a tenure of 1 year to less than 2 years, the bank is offering a maximum return of 7.10.

Karur Vysya Bank

On 16.08.2023, the bank revised its interest rates on FDs of less than Rs 2 Cr. Check the latest FD rates of Karur Vysya Bank below.

South Indian Bank

The latest FD rates of South Indian Bank are effective as of 23rd August 2023.

Tamilnad Mercantile Bank

This private sector lender revised its FD rates on 14.08.2023.