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FinanceLane
Home News Feed Advisory

IDBI Bank, DBS Bank, Canara Bank revise FD interest rates

FinanceLanebyFinanceLane
July 16, 2022
in Advisory, Investments, News Feed, Savings, Tax Planning, Wealth
Reading Time: 2 mins read

IDBI Bank and DBS Bank are the most recent private sector lenders to raise their fixed deposit interest rates. IDBI Bank has increased interest rates on fixed deposits below Rs 2 crore, effective July 14, 2022. DBS Bank has raised the interest rates on its fixed deposits effective from July 15, 2022. While Canara Bank has revised its FD rates with effect from July 16, 2022.

IDBI Bank FD interest rates

Domestic term deposits maturing in 6 months 1 day to 270 days will now pay an interest rate of 4.50 percent. Fixed deposits maturing in 1 year to less than 18 months will now carry an interest rate of 5.35 per cent. For tenure between 18 months to less than 30 months will fetch interest rate of 5.40 percent and for 30 months to less than 3 years, interest rate offered is 5.50 percent.

IDBI-fd-july

DBS Bank FD interest rates

DBS Bank India has increased interest rates on FDs by 10 to 50 basis points.

In addition, senior citizens will receive 50 basis points (bps) above the new rates for deposits of six months or more.

DBS Bank FD interest rates have been hiked by 150 basis points to 4.75 per cent from the earlier 3.25 percent for tenures of 181 days to 269 days applicable to the general public. For tenures between 270 days to less than 1 year, the rates have been hiked by 100 basis points to 4.75 per cent, while for tenures between one year to 375 days the rates have been hiked to 5.65 percent, a hike of 35 basis points.

Tenures between two years to less than 3 years will see an increased FD interest rate of 6 per cent. From three years to more than or equal to five years, DBS Bank FD interest rates have been increased to 6.75 per cent from the earlier 6 percent.

DBS-FD-july

Canara Bank FD interest rates

Canara Bank has revised FD interest rates with effect from July 16, 2022. The revised rates are applicable for FDs with amounts below Rs 2 crore.

canara-fd-july

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