Revised Fixed Deposit Rates with effect from July 1: In July, many banks changed their FD rates. New interest rates on FDs of most banks are applicable from the first date. Benefits can be availed by investing up to Rs 5 crore in FDs of different tenures. Some banks have updated the date but the interest rates are the same. If you want to earn good money by investing in your savings bank FD, then you can check the details here on which bank FD is giving the highest return.
Axis Bank
Axis Bank has changed the FD rate from July 1. These new rates are applicable for FDs up to Rs 5 crore. Senior citizens are getting a maximum of 7.75% interest on FDs with a tenure of 5 years to 10 years in the bank. Ordinary citizens are getting the benefit of a maximum return of up to 7.2% on FDs with a tenure of up to 18 years. You can check the list of bank FDs and the new rates applicable here.
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Ujjivan Small Finance Bank
The FD rate of Ujjivan Small Finance Bank has also been changed from July 1. The new rates are applicable for FDs up to Rs 3 crore. In Small Finance Bank, senior citizens are getting the highest return of up to 8.75% on 12-month FD.
Tenure of FD | Annual interest rate (up to Rs 3 crore) |
7 days to 29 days | 3.75% |
30 days to 89 days | 4.25% |
90 days to 179 days | 4.75% |
6 Months to 12 Months | 7.00% |
12 months or one year | 8.25% |
12 months 1 day to 560 days i.e. 80 weeks | 8.00% |
561 days to 990 days | 7.75% |
991 days to 60 months | 7.20% |
60 months 1 day to 120 months | 6.50% |
Senior Citizen Additional interest on FD | 0.50% |
Investors below the age of 60 years are getting 8.25% interest on FDs of this duration. You can check the updated interest rate list here. The bank has said that interest rates keep changing from time to time and the applicable interest rates will be given by the bank on the basis of opening the FD account and its duration.