Attention individuals interested in making fixed deposits in banks: Four banks have recently updated their interest rates, effective July 1. The newly announced rates apply to retail deposits below 3 crores. These major banks include Axis Bank, Punjab and Sindh Bank. Below, you will find details on the interest rates for different deposit tenures and the respective banks.
Axis Bank’s Latest FD Rates:
Axis Bank, a leading domestic private bank, has adjusted its interest rates for retail deposits below 3 crores, effective July 1, 2024. According to the revised rates, senior citizens can receive a maximum interest of 7.75% on fixed deposits with tenures between 5 and 10 years. For general customers, a maximum interest of 7.2% is offered for tenure deposits of 17 to 18 months.
Ujjivan Small Finance Bank:
Ujjivan a small finance bank, introduced new interest rates for fixed deposits of up to 3 crores on July 1. It is offering a maximum interest rate of 8.75% to senior citizens on deposits with a 12-month tenure. Additionally, general customers can receive 8.25% interest through the same scheme.
ICICI Bank FD Interest Rates:
Private sector giant ICICI Bank has also adjusted interest rates for retail term deposits under 3 crores. These new rates will be effective from July 1, 2024. Currently, it is offering a maximum interest rate of 7.75% to senior citizens on fixed deposits with tenures of 15 to 18 months. Additionally, general customers can receive 7.2% interest on deposits within 15 months to 2 years.
Punjab and Sindh Bank Interest Rates:
Punjab and Sindh Bank have announced changes to the interest rates of retail term deposits below 3 crores. The new interest rates will be effective from July 1, 2024. Currently, senior citizens are offered 7.80% interest through a special tenure scheme of 666 days, while general customers are offered a maximum interest rate of 7.3% on the same tenure.
Advised to visit the bank’s official website or directly visit a nearby branch channel to get all the latest information about the revised interest rates with scheme details.
