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5 Top Banks That Have Increased Interest Rates On FDs, Post RBI Rate Hike
Post-RBI repo rate hike, major commercial banks in India have upgraded their interest rates on FDs. Axis Bank, ICICI Bank, Kotak Mahindra Bank, RBL Bank, and DCB Bank are the top 5 banks that have raised interest rates. Check the new rates below.
Axis Bank FD Rates: below Rs. 2 crore deposit
For Axis Bank account holders, for 5 months to less than 6 months the rate is 3.75%, for 8 months to less than 9 months the rate is 4.90%, for 11 months 25 days to less than 1 year the rate is 5%, for 1 year to less than 1 year 11 days the rate is 6.20%, for 1 year 11 days to less than 1 year 25 days the rate is 6.50%. Significantly, for 15 months to less than 2 years the rate is 6.90%, which is the highest interest rate offered by the bank for below Rs. 2 crore deposit amount. These rates came into effect on October 1.
ICICI Bank FD Rates: below Rs. 20 million deposit
For ICICI Bank account holders, for 30 days to 90 days FD rate is 3.50% for public and 4% for senior citizens, for 91 days to 184 days FD rate is 4.25% for public and 4.75% for senior citizens, for 185 days to less than 1 year FD rate is 4.90% for public and 5.40% for senior citizens, for 1 year to 2 years FD rate is 5.70% for public and 6.20% for senior citizens, for 2 years 1 day to 3 years FD rate is 5.80% for public and 6.30% for senior citizens, for 3 years 1 day to 5 years FD rate is 6.10% for public and 6.60% for senior citizens. These rates came into effect on Sept. 30.
RBL Bank FD Rates: below Rs. 2 crore deposit
For RBL Bank account holders, for 453 days to 724 days FD rate is 7% for public and 7.50% for senior citizens, for 725 days FD rate is 7.25% for public and 7.25% for senior citizens, for 24 months to less than 36 months FD rate is 6.75% for public and 7.25% for senior citizens, for 60 months 2 Days to 240 months FD rate is 5.75% for public and 6.25% for senior citizens. These rates came into effect on October 1.
Kotak Mahindra Bank FD Rates: below Rs. 2 crore deposit
For Kotak Mahindra Bank account holders, for 390 Days to less than 23 Months FD rate is 6.10% for public and 6.60% for senior citizens, for 390 Days to less than 23 months 1 Day to less than 3 years FD rate is 6.20% for public and 6.70% for senior citizens, for 3 years to 5 years FD rate is 6.10% for public and 6.60% for senior citizens. These rates came into effect on October 3.
DCB Bank FD Rates: below Rs. 2 crore deposit
For DCB Bank account holders, for 12 months FD rate is 6.10% for public and 6.60% for senior citizens, for 18 months to less than 700 days FD rate is 6.75% for public and 7.25% for senior citizens, for 700 days to 3 years FD rate is 7.10% for public and 7.60% for senior citizens, for above 3 years to 120 months FD rate is 7% for public and 7.50% for senior citizens.
