For the past few years bank fixed deposit(F.D)interest rates have been declining which hurts the savings nature of the public. But even today there are some section of people(Retirees, Senior Citizens, Unorganised workers)rely on interest income of the banks. So there is a need to preserve their inbuilt “Sentiment” by raising interest rates and protect the interests of the investors.
As RBI gives hint that interest rates would be hiked in future, many banks have raised their F.D Rates slightly higher than the existing interest rates. Even though they are comparatively lower than F.D rates of the last 4,5 years back interest rates, public have digested the “Low- interest rate Scenario”.
To satisfy retail investors many banks have hiked F.D interest rates slightly higher than the existing ones. Let’s check them in one glance under-
| Bank Name | Tenure of Deposit | Interest Rate |
| State Bank of India(SBI) | 5 Years | 5.40% |
| IDBI Bank | 5 Years | 5.50% |
| Kotak Mahindra Bank | 5 Years | 5.50% |
| Federal Bank | 5 Years | 5.60% |
| ICICI Bank | 5 Years 1 Day & above | 5.60% |
| Axis Bank | 5 Years | 5.75% |
| Yes Bank | 3 Years | 6.25% |
| Karur Vysya Bank | 5 Years | 5.60% |
| South Indian Bank | 5 Years | 5.65% |
| IndusInd Bank | 1 Year | 6% |
| IDFC First Bank | 3 Years & above | 6.25% |
| DCB Bank | 700 Days | 5.95% |
| Bandhan Bank | 2 Years | 6.25% |
So rush to your nearest bank you wish to do fixed deposit(F.D)and avail the latest interest rates
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