Latest FD rates: In October 2024, three major Indian banks – Punjab National Bank, Punjab & Sindh, and Bank of Baroda – have announced revisions to their fixed deposit interest rates. We take a look at the revised FD rates of these banks, as listed by ET:
Punjab National Bank: Latest Fixed Deposit Rates
- Following the revisions, Punjab National Bank’s fixed deposit interest rates range from 3.50% to 7.25% for tenures spanning 7 days to 10 years for general citizens.
- Senior citizens can avail interest rates between 4% and 7.75%, while super senior citizens are offered rates ranging from 4.30% to 8.05%.
- The bank’s highest interest rate of 7.25% for general citizens, 7.75% for senior citizens, and 8.05% for super senior citizens is applicable on the 400-day tenure. These revised rates came into effect from October 1, 2024.
Punjab & Sind Bank: Latest Fixed Deposit Rates
Punjab & Sind provides fixed deposit interest rates ranging from 2.80% to 7.25% for tenures spanning 7 days to 10 years for general customers.These rates have been in effect since October 1, 2024.
As per the bank’s website, “Senior Citizens shall be given benefit of additional interest of 0.50% on term deposits of less than Rs. 3 crore, over and above the mentioned rates for the maturity of 180 days & above on fresh as well as on renewal of term deposits, same shall not be available to NRE, NRO deposits, capital gain and Bulk deposits.”
Furthermore, Punjab & Sind offers Super Senior Citizens an additional interest benefit of 0.15% on specific period Term Deposits (i.e., 222 Days, 333 Days, 444 Days, 666 Days, 999 Days) of less than Rs. 3 crore.
Bank of Baroda: Latest Fixed Deposit Rates
Bank of Baroda provides fixed deposit interest rates that vary based on the tenure and the customer’s age. For the general public, the interest rates range from 4.25% to 7.15% for tenures spanning from 7 days to 10 years. Senior citizens, on the other hand, can benefit from higher interest rates, ranging from 4.75% to 7.60%. These updated rates have been in effect since October 3, 2024.
The Bank of Baroda website states, “(* incl. additional ROI 0.50% for RTD upto 3 Years and Above 10 Years, # incl. additional ROI of 0.50+0.15 for RTD above 3 Years and upto 5 Years, ** incl. additional ROI of 0.50%+0.50% for RTD above 5 Years and upto 10 Years to Resident Senior Citizens)”
