2024: Indian banks revise fixed deposit rates, offering higher returns, particularly for senior citizens.
In May 2024, Indian banks including Utkarsh Small Finance, City Union, RBL Bank, and Capital Small Finance Bank revised their fixed deposit interest rates, offering higher returns for investors. Utkarsh Small Finance Bank's new rates range from 4% to 8.50% for regular customers and 4.60% to 9.10% for senior citizens. RBL Bank offers an 8% interest rate for FDs with maturity of 18-24 months, with senior citizens receiving 8.50%. Capital Small Finance Bank provides general citizens with rates between 3.5% and 7.55%, while senior citizens receive rates between 4% and 8.05%. Senior citizens can enjoy higher FD interest rates, up to 8.6%, with slightly higher threshold limits for tax deducted at source (TDS).
May 11, 2024
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