FD interest rate up to 8.25%: These banks have revised fixed deposit interest rates in February 2024

Axis Bank has revised its fixed deposit (FD) interest rates with effect from February 5, 2024, according to the bank’s website. The revised rates are applicable for FDs worth less than Rs 2 crore. For Axis Bank FDs, the highest interest rate for individuals can go up to 7.20% and the highest interest rate for senior citizens can go up to 7.75%.

Axis Bank has hiked its fixed deposit interest rate of 17 months to less than 18 months FDs by 10 basis points (bps) from 7.10% to 7.20% for general citizens. For senior citizens, the bank has hiked it from 7.75% to 7.85%.

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HDFC Bank has revised bulk fixed deposits interest rates for amounts above Rs.2 crore to Rs.5 crore for domestic, NRO, NRE customers. The new rates are effective from February 3, 2024, as per the HDFC Bank website.

HDFC Bank offers interest rate between 4.75% to 7.40% for general citizens on bulk deposits. For senior citizens the interest rate varies between 5.25% to 7.90%. The highest interest rate of 7.40% and 7.90% is offered on a tenure of 1 Year to less than 15 months.

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IndusInd Bank has revised the interest rates on fixed deposits under Rs 2 crore. The new rates came into effect on February 6, 2024, according to the bank’s official website.

IndusInd Bank offers an interest rate between 3.50% to 7.75% for general citizens. The bank offers an interest rate between 4 per cent to 8.25 per cent for tenures ranging from 7 days to 10 years for senior citizens. The highest interest rate of 8.25% is offered between 1 year to 2 years. Senior citizens should note that the extra 0.50% over and above card rates apply to term Deposits of Senior Citizens for amounts less than Rs 2 Cr (Callable).

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Karnataka Bank has revised the interest rates on fixed deposits under Rs 2 crore. The new rates came into effect on February 1, 2024, according to the bank’s official website.

For deposits below Rs 1 crore, the bank offers interest rates between 3.50% to 7.40% on tenures ranging from 7 days to 10 years.

According to the Karnataka Bank website, “*0.40% extra over the general rate upto & inclusive of 5 crore only under Domestic FD and ACC Schemes (Not for deposit under NRE/NRO/FCNR(B) accounts) for resident Senior Citizens only for tenure 1 to 5 years and 0.50% extra over the general rate for tenure 5 to 10 years w.e.f. 09.11.2020. Senior Citizen interest rate benefit for term deposits below 1 year is withdrawn w.e.f. June 06, 2019.”

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