These banks have revised their fixed deposit interest rates in October 2024: The review meeting of the Monetary Policy Committee (MPC) of the Reserve Bank of India has started from today. Its results will be announced on Wednesday 9 October. RBI can give an important decision regarding interest rates after its meeting. Before the interest rate decisions, some major banks of the country like Bank of Baroda, Punjab and Sindh, Punjab National, IndusInd Bank have revised their fixed deposit rates in October. Now, what are the interest rates on FD with which tenure in these banks, you can check each and every detail here.
IndusInd Bank
IndusInd Bank has changed the interest rates on FDs of less than Rs 3 crore. Now common customers in the bank are getting annual returns between 3.50% to 7.75% on FDs ranging from 7 days to 10 years. The bank is offering the highest interest rate of 7.75% per annum on its general FD with tenure of 1 to 2 years.
| Tenure | Interest Rate (for common people) | Interest Rate (For Senior Citizens) |
| 7 days to 14 days | 3.5 | 4 |
| 15 days to 30 days | 3.5 | 4 |
| 31 days to 45 days | 3.75 | 4.25 |
| 46 days to 60 days | 4.75 | 5.25 |
| 61 days to 90 days | 4.75 | 5.25 |
| 91 days to 120 days | 4.75 | 5.25 |
| 121 days to 180 days | 5 | 5.5 |
| 181 days to 210 days | 5.85 | 6.35 |
| 211 days to 269 days | 6.1 | 6.6 |
| 270 days to 354 days | 6.35 | 6.85 |
| 355 days to 364 days | 6.5 | 7 |
| 1 Year to below 1 Year 3 months | 7.75 | 8.25 |
| 1 Year 3 months (15 months) to below 1 Year 4 months (16 months) | 7.75 | 8.25 |
| 1 Year 4 months to below 1 Year 6 months | 7.75 | 8.25 |
| 1 Year 6 Months up to 2 Years | 7.75 | 8.25 |
| Above 2 Years to below 2 Years 6 Month | 7.25 | 7.75 |
| 2 years 6 Months (30 months) to below 2 years 7 months (31 months) | 7.25 | 7.75 |
| 2 years 7 months to 3 years 3 months | 7.25 | 7.75 |
| Above 3 years 3 months to below 61 months | 7.25 | 7.75 |
| 61 months and above | 7 | 7.5 |
| Indus Tax Saver Scheme (5 years) | 7.25 | 7.75 |
Talking about senior citizen FD rate, senior citizens aged 60 years and above are getting annual interest rate between 4% to 8.25% on deposits in FD of 7 days to 10 years in the bank. The bank is offering the highest annual return of 8.25% on Senior Citizen FD of 1 to 2 years. According to the official website of the bank, the new interest rates on FD are applicable from today i.e. 7 October 2024.
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Bank of Baroda
In Bank of Baroda, general customers are getting returns between 4.25% to 7.15% on FDs ranging from 7 days to 10 years. At the same time, the bank is offering returns between 4.75% to 7.60% to its senior citizens on FD with the same tenure. The new rates are applicable from 3 October 2024.
| Tenure | General FD Rate | Senior Citizen FD Rate |
| 7 days to 14 days | 4.25 | 4.75* |
| 15 days to 45 days | 4.5 | 5.00* |
| 46 days to 90 days | 5.5 | 6.00* |
| 91 days to 180 days | 5.6 | 6.10* |
| 181 days to 210 days | 5.75 | 6.25* |
| 211 days to 270 days | 6.25 | 6.75* |
| 271 days & above and less than 1 year (except 360 Days) | 6.5 | 7.00* |
| 360 Days (bob360) | 7.1 | 7.60* |
| 1 year | 6.85 | 7.35* |
| Above 1 year to 400 days | 7 | 7.50* |
| Above 400 days and upto 2 Years | 7 | 7.50* |
| Above 2 Years and upto 3 Years | 7.15 | 7.65* |
| Above 3 Years and upto 5 Years | 6.5 | 7.15 # |
| Above 5 Years and upto 10 Years | 6.5 | 7.50** |
| Above 10 years (MACT/MACAD | 6.25 | 6.75* |
| Court Order schemes only) |
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Punjab & Sind Bank
Punjab and Sindh Bank is offering 2.80% to 7.25% annual interest rate to its general customers on FDs ranging from 7 days to 10 years. The new rates are applicable from 1 October 2024. According to the bank’s website, senior citizens will get 0.50% additional interest on FD compared to common people.
| Tenure | FD rate (less than Rs 3 crore) |
| 7 – 14 Days | 2.80(#) |
| 15 – 30 Days | 2.8 |
| 31 – 45 Days | 3 |
| 46 – 90 Days | 4.25 |
| 91 – 120 Days | 4.25 |
| 121-150 Days | 4.75 |
| 151 – 179 Days | 4.75 |
| 180 – 221 Days | 5.25 |
| 222 days | 6.30($) |
| 223 – 269 Days | 5.25 |
| 270 – 332 Days | 5.5 |
| 333 days | 7.15($) |
| 334-<1 Year | 5.5 |
| 1 year | 6.3 |
| >1 Years – 443 Days | 6 |
| 444 Days | 7.25($) |
| 445 Days – 665 Days | 6 |
| 666 days | 7.3 |
| 667 Days-2 years | 6 |
| Above 2 years<998 days | 6.3 |
| 999 days | 6.65 |
| 1000 Days < 3 years | 6.3 |
| 3 years – 5 years | 6 |
| >5 years – 10 years | 6.25 |
In the bank, investors aged 80 years and above i.e. Super Senior Citizens will get 0.15% additional interest as compared to senior citizens on FDs with tenure of 222 days, 333 days, 444 days, 666 days, 999 days.
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Punjab National Bank
In Punjab National Bank, common investors are getting annual returns between 3.50% to 7.25% on FDs ranging from 7 days to 10 years. On FD of the same tenure, the bank is giving annual interest rates ranging from 4% to 7.75% to its senior citizens and 4.30% to 8.05% to its super senior citizens.
| Tenure | Interest rates on FD for common people | Senior Citizen FD Rate | Super Senior Citizen FD Rate |
| 7 to 14 Days | 3.5 | 4 | 4.3 |
| 15 to 29 Days | 3.5 | 4 | 4.3 |
| 30 to 45 Days | 3.5 | 4 | 4.3 |
| 46 to 60 Days | 4.5 | 5 | 5.3 |
| 61 to 90 Days | 4.5 | 5 | 5.3 |
| 91 to 179 Days | 5.5 | 6 | 6.3 |
| 180 to 270 Days | 6.25 | 6.75 | 7.05 |
| 271 Days to 299 Days | 6.5 | 7 | 7.3 |
| 300 days | 7.05 | 7.55 | 7.85 |
| 301 Days to < 1 Year | 6.5 | 7 | 7.3 |
| 1 year | 6.8 | 7.3 | 7.6 |
| > 1 Year to 399 days | 6.8 | 7.3 | 7.6 |
| 400 days | 7.25 | 7.75 | 8.05 |
| 401 Days to 2 Years | 6.8 | 7.3 | 7.6 |
| > 2 years to 3 years | 7 | 7.5 | 7.8 |
| > 3 years to 1203 days | 6.5 | 7 | 7.3 |
| 1204 days** | 6.4 | 6.9 | 7.2 |
| 1205 days to 5 years | 6.5 | 7 | 7.3 |
| > 5 years to 1894 days | 6.5 | 7.3 | 7.3 |
| 1895 days** | 6.35 | 7.15 | 7.15 |
| 1896 days to 10 years | 6.5 | 7.3 | 7.3 |
Investors are getting the highest return on FD in the bank on FD of 400 days. The new rates are applicable from 1 October 2024.
