HDFC, Canara Bank to PNB get a look at fixed deposit interest rates in Dec 2023

Fixed Deposit interest rates vary across different banking institutions. Small Finance Banks and NBFCs typically offer the highest rates, followed by PSU Banks and large Private Sector Banks.

The interest rates offered by scheduled banks range from 2.50% p.a. to 9.00% p.a. for regular depositors, covering tenures spanning 7 days to 10 years. Senior citizens often enjoy an additional interest boost of 0.50%-0.75% p.a. above the standard FD card rates.

Fixed Deposit (FD) interest rates are influenced by the deposit amount and tenure. Here are the top 6 banks offering the highest interest rates of 7.25 percent for regular consumers on deposits below Rs 2 crore.

HDFC Bank FD Interest Rates 2023

HDFC Bank provides interest rates ranging from 3 percent to 7.25 percent for regular customers and 3.5 percent to 7.75 percent for senior citizens. The highest interest rate of 7.25 percent is applicable for a tenure of 2 years and 11 months. These rates are effective from May 29, 2023.

Bank Of Baroda Latest FD Rates 2023

Bank of Baroda offers interest rates between 3 percent and 7.25 percent for regular individuals and 3.5 percent to 7.75 percent for senior citizens. The highest interest rate of 7.25 percent is available for a 399-day term under the Baroda Tiranga Plus Deposit Scheme. These rates are valid from May 12, 2023.

Canara Bank Latest FD Rates 2023

Canara Bank provides interest rates ranging from 4 percent to 7.25 percent for regular customers and 4 percent to 7.75 percent for senior citizens. The highest interest rate of 7.25 percent is offered for a term of 444 days. These rates are effective from August 8, 2023.

Punjab National Bank FD Rates 2023

PNB offers interest rates between 3.5 percent and 7.25 percent for regular residents and 4 percent to 7.75 percent for senior citizens. The highest interest rate of 7.25 percent is applicable for a term of 444 days. These rates are in effect from July 1, 2023.

Induslnd Bank FD Rates

Induslnd Bank offers interest rates between 3.5 percent and 7.5 percent for regular individuals and 4.25 percent to 8.25 percent for senior citizens. These rates are effective from August 5, 2023.

Federal Bank

Federal Bank provides interest rates for regular residents ranging from 3 percent to 7.3 percent and for senior citizens from 3.5 percent to 7.8 percent. These rates are valid from September 1, 2023.

Disclaimer: Fixed Deposit rates are subject to change; kindly verify with the respective banks you are approaching.