Ahead of the RBI Monetary Policy Committee meeting, six major banks have revised their fixed deposit interest rates. These changes have been effective since January 2025.
Banks That Have Changed FD RatesUnion Bank of India
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Offers 3-7.30% interest for tenures ranging from 7 days to 10 years.
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Maximum 7.30% interest for a 456-day tenure.
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Revised rates effective from January 1, 2025.
Axis Bank
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Offers 3-7.25% interest for 7 days to 10 years.
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New rates effective from January 27, 2025.
Federal Bank
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Offers 3-7.50% interest for 7 days to 10 years.
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Maximum 7.50% for a 444-day tenure.
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Revised from January 10, 2025.
Karnataka Bank
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Offers 3.50-7.50% for general citizens.
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Highest 7.50% for a 375-day tenure.
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New rates effective from January 2, 2025.
Shivalik Small Finance Bank (SFB)
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Offers 3.50-8.80% for general citizens, 4-9.30% for senior citizens.
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New rates effective from January 22, 2025.
Punjab National Bank (PNB)
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Introduced a new 303-day FD at 7% interest.
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Added a 506-day FD at 6.7% interest.
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Offers 3.50-7.25% for 7 days to 10 years.
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New rates effective from January 1, 2025.
These changes in FD rates will impact depositors looking for higher returns on their savings.
