Many banks have recently adjusted their Fixed Deposit (FD) interest rates in May 2024.
This includes Utkarsh Small Finance Bank (SFB), City Union Bank, RBL Bank, and Capital Small Finance Bank. Below, we present the updated interest rates offered by these banks on FDs.
Utkarsh Small Finance Bank
Utkarsh Small Finance Bank has revised its FD interest rates for deposits below Rs 2 crore, effective from May 1, April 2024.
For regular citizens, the interest rates range from 4% to 8.50%, while for senior citizens, it varies from 4.60% to 9.10%.
The highest rates are available for FDs with a tenure of 2 to 3 years, ranging from 8.50% to 9.10%.
RBL Bank
RBL Bank has adjusted its FD interest rates for deposits less than Rs 2 crore, starting from May 1, April 2024.
It offers an 8% interest rate for FD schemes with a duration of 18 to 24 months.
Senior citizens receive an additional 0.50% interest, and those above 80 years old get an extra 0.75%, totaling an interest rate of 8.75%.
Capital Small Finance Bank
Capital Small Finance Bank has modified its FD interest rates for amounts below Rs 2 crore, effective from May 6, 2024.
The bank offers interest rates ranging from 3.5% to 7.55% for regular citizens and from 4% to 8.05% for senior citizens. The highest interest rate is available for a tenure of 400 days.
City Union Bank
City Union Bank has adjusted its FD interest rates for deposits below Rs 2 crore, starting from May 6, 2024.
For regular citizens, the rates range from 5% to 7.25%, while for senior citizens, it varies from 5% to 7.75%.
The bank offers the highest interest rate for an FD with a tenure of 400 days.
