These 7 banks change FD rates in October, chance to earn interest up to 8.8%

New Delhi. Whenever there is talk of savings, the name of fixed deposit i.e. FD of banks definitely comes up. Your investment in Fixed Deposit is safe and you also get guaranteed returns. If you are thinking of investing in FD then this news is useful for you. In October 2024, 7 banks including Shivalik Small Finance Bank, IndusInd Bank, Federal Bank, Punjab & Sindh Bank, Bank of Baroda and Punjab National Bank revised their FD interest rates.

Shivalik Small Finance Bank
Shivalik Small Finance Bank had changed the interest rate on October 24. The bank is offering 3.5% to 8.3% interest to customers on FD, while senior citizens are being offered 4% to 8.8% interest. The highest interest rates are being offered on FDs for a tenure of 18 months to 24 months, which is 8.30 percent for general customers and 8.80 percent for senior citizens.

Indus Indus Bank
IndusInd Bank had changed the interest rate on October 7. The bank is offering 3.5% to 7.75% interest on FD to general customers while 4% to 8.25% to senior citizens. FDs with tenure of 1 to 2 years are paying the highest interest.

IDFC First Bank
IDFC First Bank’s new rates will be effective from October 16. The bank is offering interest rates ranging from 3% to 7.75% to the customers. The highest interest rate offered by the bank is 7.75% on fixed deposits for a tenure of 400 to 500 days.

Federal Bank
Federal Bank’s new FD rates will be effective from October 16. The bank is offering interest rates ranging from 3 percent to 7.4 percent to customers. The highest interest rate on 777 days FD is 7.40%.

Bank of Baroda
Bank of Baroda’s new FD rates will be effective from October 14. The bank is offering interest rates ranging from 4.25 percent to 7.30 percent to customers. Senior citizens are being given an additional interest of 0.50% on FD.

Punjab National Bank
Punjab National Bank is offering FD rates ranging from 3.50% to 7.25% for tenures of 7 days to 10 years for general customers. The bank offers interest rates ranging from 4 percent to 7.75 percent for senior citizens and 4.30 percent to 8.05 percent for super senior citizens. These rates will be applicable from October 1, 2024.

Punjab and Sindh Bank
Punjab and Sindh Bank is offering FD rates ranging from 4% to 7.45% on callable deposits for general citizens for a tenure of 7 days to 10 years. The bank is offering the highest interest rate of 7.50 percent on non-callable deposits with a tenure of 555 days.

Tags: Bank FD, FD Rates, Fixed Deposits