The Reserve Bank of India (RBI) is likely to take a call on repo rate reduction at the Monetary Policy Committee (MPC) meeting on February 7. However, ahead of the RBI’s Monetary Policy Committee meeting, many banks in January including Union Bank of India, PNB, Axis, Shivalik Small Finance Bank, Karnataka Bank, and Federal Bank have revised the fixed deposit rates.Here are banks that have revised their fixed deposit interest rates in January 2025. Note that the below mentioned rates are only applicable on fixed deposits for general citizens.
Union Bank of India
The bank revised fixed deposit interest rate on deposits below Rs 3 crore, after revision the bank offers interest rate between 3.5% and 7.30% ranging from 7 days to 10 years. The highest interest rate of 7.30% is offered on tenure of 456 days for general citizens. The revised rates are applicable from January 1, 2025.
| Period | Rates in % per annum |
| Rs. 3 Cr | |
| 7-14 Days | 3.5 |
| 15-30 Days | 3.5 |
| 31-45 Days | 3.5 |
| 46-90 Days | 4.5 |
| 91-120 Days | 4.8 |
| 121-180 Days | 5 |
| 181 Days to 332 days | 6.35 |
| 333 days | 6.35 |
| 334 days to 1 year | 6.35 |
| 1 year | 6.8 |
| >1 year to 398 Days | 6.8 |
| 399 Days | 7 |
| 400 days to 455 days | 6.6 |
| 456 days | 7.3 |
| 457 days to 2 years | 6.6 |
| > 2 year to 996 days | 6.6 |
| 997 days | 6.4 |
| >998 days to less than 3 Years | 6.6 |
| 3 years | 6.7 |
| > 3 Year to 5 years | 6.5 |
| >5 Years to 10 Years | 6.5 |
Karnataka Bank
Karnataka Bank offers interest rate between 3.50% and 7.50% for tenures ranging from 7 days to 10 years for general citizens. The highest interest rate of 7.50% is offered on tenure of 375 days. The revised rates are applicable from January 2, 2025.
| Maturity period | Interest rate (% p.a.) for deposits below ₹ 3 crore |
| 7 days to 45 days | 3.5 |
| 46 days to 90 days | 4 |
| 91 days to 179 days | 5.25 |
| 180 days to below 1 year | 6.25 |
| 1 year to 2 years | 7.25 |
| 375 days (FD & ACC) | 7.5 |
| Above 2 years to 3 years | 6.5 |
| Above 3 years to 5 years | 6.5 |
| Above 5 years to 10 years | 5.8 |
Punjab National Bank
Punjab National Bank has added a new FD tenure of 303 days with an interest rate of 7%. The other tenure which has been added is 506 days, with an interest rate of 6.7% for general citizens. The new FD tenures are effective from January 1, 2025 onwards. Punjab National Bank offers fixed deposit interest rates between 3.50% and 7.25% for tenures ranging from 7 days to 10 years for general citizens. The highest interest rate of 7.25% is offered on a tenure of 400 days.
| Sl. No | Period | Revised Rates For Public w.e.f. 01.01.2025 |
| 1 | 7 to 14 Days | 3.5 |
| 2 | 15 to 29 Days | 3.5 |
| 3 | 30 to 45 Days | 3.5 |
| 4 | 46 to 60 Days | 4.5 |
| 5 | 61 to 90 Days | 4.5 |
| 6 | 91 to 179 Days | 5.5 |
| 7 | 180 to 270 Days | 6.25 |
| 8 | 271 Days to 299 Days | 6.5 |
| 9 | 300 Days | 7.05 |
| 10 | 301 Days to 302 Days | 6.5 |
| 11 | 303 Days** | 7 |
| 12 | 304 Days to 1 Yearsr | 6.5 |
| 13 | 1 Year | 6.8 |
| 14 | > 1 Year to 399 days | 6.8 |
| 15 | 400 Days | 7.25 |
| 16 | 401 Days-505 Days | 6.8 |
| 17 | 506 Days** | 6.7 |
| 18 | 507 Days to 2 year | 6.8 |
| 19 | > 2 years to 3 years | 7 |
| 20 | > 3 years to 1203 days | 6.5 |
| 21 | 1204 days** | 6.4 |
| 22 | 1205 days to 5 years | 6.5 |
| 23 | > 5 years to 1894 days | 6.5 |
| 24 | 1895 days** | 6.35 |
| 25 | 1896 days to 10 years | 6.5 |
PNB adds 2 new FD tenures: These citizens can get up to 8.05% on fixed deposits; check details
Federal Bank
Karnataka Bank offers interest rate between 3% and 7.50% on fixed deposits with tenures ranging from 7 days to 10 years for general citizens. The highest interest rate of 7.50% is offered on tenure of 444 days. The revised rates are applicable from January 10, 2025.
| Period | Single Deposit Less than ₹300 Lakhs – General Public |
| 7 days to 29 days | 3.00% |
| 30 days to 45 days | 3.50% |
| 46 days to 180 days | 5.50% |
| 181 days | 6.50% |
| 182 days to 270 days | 6.25% |
| 271 days to less than 1 year | 6.50% |
| 1 year | 7.00% |
| Above 1 year to 399 days | 7.25% |
| 400 days | 7.35% |
| 401 days to 443 days | 7.25% |
| 444 days | 7.50% |
| 445 days to less than 2 years | 7.25% |
| 2 years to 776 days | 7.15% |
| 777 days | 7.40% |
| 778 days to less than 3 years | 7.15% |
| 3 years to less than 50 months | 7.10% |
| 50 Months | 7.40% |
| Above 50 months to 5 years | 7.10% |
| Above 5 years | 6.60% |
Shivalik Small Finance Bank (SFB)
Shivalik Small Finance Bank (SFB) has revised its interest rates on fixed deposits, according to the bank’s website. The bank offers an interest rate between 3.50% and 8.80% on FDs for general citizens and 4% and 9.30% on FDs for senior citizens. The revised FD interest rates are effective from January 22, 2025 onwards.
FD interest rate up to 9.3%: This bank revises interest rates on fixed deposits for these citizens
Axis bank
Axis Bank is offering FD interest rates between 3% and 7.25% for general citizens on tenures between 7 days and 10 years for amounts less than Rs 3 core. The bank has revised the effective date of interest rates on its FDs to January 27, 2025.
