Bank Interest Rates: This Private Bank Now Offers 7.60% Returns on One-Year Fixed Deposits – Check the Latest Rates
| Mar 7, 2025, 10:41 IST
A leading private sector bank has revised its fixed deposit (FD) interest rates, reducing them by 20-25 basis points (bps). Despite this adjustment, customers can still earn up to 8.50% returns on specific FD tenures. The new rates are applicable to deposits below ₹3 crore. Let’s take a closer look at the updated interest rates and the highest returns available.
Revised FD Interest Rates: Key Changes
- The interest rates for 10-month to 12-month FDs have been reduced by 20 bps, bringing them down from 7.25% to 7.05%.
- The rate for FDs with a tenure of 12 months to 12 months 10 days has been reduced by 25 bps, now offering 7.50% instead of 7.75%.
Best FD Tenure for Maximum Returns
- The highest return is being offered on 15-month to less than 16-month FDs, where general customers receive 8% interest, while senior citizens enjoy an 8.50% return.
- For one-year FDs, general customers earn 7.10%, whereas senior citizens receive 7.60% interest.
- The bank provides over 7% interest on FDs ranging from 10 months to 120 months.
Fixed Deposit Interest Rates Based on Tenure
| Tenure | General Interest Rate |
|---|---|
| 7 to 45 days | 3.75% |
| 46 to 90 days | 4.00% |
| 91 days to less than 6 months | 4.75% |
| 6 months to less than 10 months | 6.20% |
| 10 months to less than 12 months | 7.05% |
| 12 months | 7.10% |
| More than 12 months up to 12 months 10 days | 7.50% |
| 12 months 11 days to less than 15 months | 7.75% |
| 15 months to less than 16 months | 8.00% |
| 16 months to 17 months | 7.15% |
| 17 months 1 day to 18 months 5 days | 7.10% |
| 18 months 6 days to 700 days | 7.40% |
| 700 days to less than 37 months | 7.50% |
| 37 months to 38 months | 7.85% |
| More than 38 months to less than 61 months | 7.40% |
| 61 months | 7.65% |
| More than 61 months up to 120 months | 7.25% |
Additional Benefits for Senior Citizens
Senior citizens receive an extra 0.50% interest on all tenures. The minimum FD rate for senior citizens is 4.25%, while for general customers, it is 3.75%.
Despite the recent reduction in FD rates, the bank continues to offer competitive returns for customers seeking safe and high-yield investment options.