Ahead of RBI MPC meeting in Feb, these 6 banks have revised FD rates in January Here are banks that have revised their fixed deposit interest rates in January 2025. Note that the below mentioned rates are only applicable on fixed deposits for general citizens
The Reserve Bank of India (RBI) is likely to take a call on repo rate reduction at the Monetary Policy Committee (MPC) meeting on February 7. However, ahead of the RBI’s Monetary Policy Committee meeting, many banks in January including Union Bank of India, PNB, Axis, Shivalik Small Finance Bank, Karnataka Bank, and Federal Bank have revised the fixed deposit rates.#sr_widget.onDemand p, #stock_pro.onDemand p{font-size: 14px;line-height: 1.28;} .onDemand .live_stock{left:17px;padding:1px 3px 1px 5px;font-size:12px;font-weight:600;line-height:18px;top:9px} #sr_widget.onDemand .sr_desc{margin:0 auto 0;} #sr_widget.onDemand .sr_desc{color: #024d99;margin-top:10px;} #sr_widget.onDemand .crypto .live_stock .lb-icon{8px 6px 5px 3px !important} #sr_widget.crypto.onDemand a.text{border-bottom:1px solid #ccc;padding-bottom:5px;display:block;width:100%} #sr_widget.onDemand .sr_desc .text p, #stock_pro.onDemand .sr_desc .text p{font-size:12px;font-weight:400;}
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Here are banks that have revised their fixed deposit interest rates in January 2025. Note that the below mentioned rates are only applicable on fixed deposits for general citizens.
Union Bank of India
The bank revised fixed deposit interest rate on deposits below Rs 3 crore, after revision the bank offers interest rate between 3.5% and 7.30% ranging from 7 days to 10 years. The highest interest rate of 7.30% is offered on tenure of 456 days for general citizens. The revised rates are applicable from January 1, 2025.
PeriodRates in % per annum7-14 Days3.515-30 Days3.531-45 Days3.546-90 Days4.591-120 Days4.8121-180 Days5181 Days to 6.35333 days6.35334 days to 6.351 year6.8>1 year to 398 Days6.8399 Days7400 days to 455 days6.6456 days7.3457 days to 2 years6.6> 2 year to 996 days6.6997 days6.4>998 days to less than 3 Years6.63 years6.7> 3 Year to 5 years6.5>5 Years to 10 Years6.5
Karnataka Bank
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Karnataka Bank offers interest rate between 3.50% and 7.50% for tenures ranging from 7 days to 10 years for general citizens. The highest interest rate of 7.50% is offered on tenure of 375 days. The revised rates are applicable from January 2, 2025.
Maturity periodInterest rate (% p.a.) for deposits below ₹ 3 crore7 days to 45 days3.546 days to 90 days491 days to 179 days5.25180 days to below 1 year6.251 year to 2 years7.25375 days (FD & ACC)7.5Above 2 years to 3 years6.5Above 3 years to 5 years6.5Above 5 years to 10 years5.8
Punjab National Bank
Punjab National Bank has added a new FD tenure of 303 days with an interest rate of 7%. The other tenure which has been added is 506 days, with an interest rate of 6.7% for general citizens. The new FD tenures are effective from January 1, 2025 onwards. Punjab National Bank offers fixed deposit interest rates between 3.50% and 7.25% for tenures ranging from 7 days to 10 years for general citizens. The highest interest rate of 7.25% is offered on a tenure of 400 days.
Sl. NoPeriodRevised Rates For Public w.e.f. 01.01.202517 to 14 Days3.5215 to 29 Days3.5330 to 45 Days3.5446 to 60 Days4.5561 to 90 Days4.5691 to 179 Days5.57180 to 270 Days6.258271 Days to 299 Days6.59300 Days7.0510301 Days to 302 Days6.511303 Days**712304 Days to 6.5131 Year6.814> 1 Year to 399 days6.815400 Days7.2516401 Days-505 Days6.817506 Days**6.718507 Days to 2 year6.819> 2 years to 3 years720> 3 years to 1203 days6.5211204 days**6.4221205 days to 5 years6.523> 5 years to 1894 days6.5241895 days**6.35251896 days to 10 years6.5PNB adds 2 new FD tenures: These citizens can get up to 8.05% on fixed deposits; check details
Federal Bank
Karnataka Bank offers interest rate between 3% and 7.50% on fixed deposits with tenures ranging from 7 days to 10 years for general citizens. The highest interest rate of 7.50% is offered on tenure of 444 days. The revised rates are applicable from January 10, 2025.
PeriodSingle Deposit Less than ₹300 Lakhs - General Public7 days to 29 days3.00%30 days to 45 days3.50%46 days to 180 days5.50%181 days6.50%182 days to 270 days6.25%271 days to less than 1 year6.50%1 year7.00%Above 1 year to 399 days7.25%400 days7.35%401 days to 443 days7.25%444 days7.50%445 days to less than 2 years7.25%2 years to 776 days7.15%777 days7.40%778 days to less than 3 years7.15%3 years to less than 50 months7.10%50 Months7.40%Above 50 months to 5 years7.10%Above 5 years6.60%
Shivalik Small Finance Bank (SFB)
Shivalik Small Finance Bank (SFB) has revised its interest rates on fixed deposits, according to the bank's website. The bank offers an interest rate between 3.50% and 8.80% on FDs for general citizens and 4% and 9.30% on FDs for senior citizens. The revised FD interest rates are effective from January 22, 2025 onwards.
FD interest rate up to 9.3%: This bank revises interest rates on fixed deposits for these citizens
Axis bank
Axis Bank is offering FD interest rates between 3% and 7.25% for general citizens on tenures between 7 days and 10 years for amounts less than Rs 3 core. The bank has revised the effective date of interest rates on its FDs to January 27, 2025.
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This story originally appeared on: India Times - Author:Faqs of Insurances
