Fixed Deposits (FDs) are well loved by those who desire assured returns on their deposits. In recent months, banks like YES Bank, Punjab & Sind Bank and Bank of Maharashtra have reeled in their FD interest rates to return as high as 8.25%. But, before making an FD investment, you need to check which bank is offering the best rates of interest in that investment period.
YES Bank FD Interest Rates
FD rates at YES Bank have been changed and loans can now earn up to 8.25% interest for depositing up to Rs 3 crore. Days before, the bank had altered its rates, slapping a notation of 7.75% on the FD’s 18-month term, which is a decline by 25 basis points from 7.90%.
The FD rates for regular citizens run from 3.25% to 7.75% and for senior citizens, the rates are as high as 3.75% to 8.25%. Deposits with an 18-month term can draw the highest interest rate, and there’s a sliver of an additional premium on the base rate for a seniors’ account.
Punjab & Sind Bank FD Interest Rate
Punjab & Sind Bank revised its FD rates on November 14, 2024 also. For regular citizens, the new rates are 4% to 7.45% with 0.50% for senior citizens over all tenures. The rates mentioned above apply from 7 days to 10 years on deposits. One of them, the bank, provides 7.50 or 8%, depending on the citizen’s status, and a non-callable FD for 555 days. The credit the rates imply is based on the bank’s strategy to attract longer term deposits by paying competitive returns.
Bank of Maharashtra Interest Rates on FD
Further, the FD interest rates of Bank of Maharashtra have also been revised as of 14th Nov, 2024. Now regular citizens can enjoy from 2.75% to 7.35% interest on deposits ranging from 7 days to 10 years. Rates for senior citizens are slightly higher and range from 2.75% to 7.85%.
Interestingly, the bank is paying 6.90 percent interest on 200 days FDs, 7.35 percent on 333 days FDs, 7.10 percent on 400 days FDs and 7.75 percent on 777 days FDs. The idea behind these changes is to furnish attractive return to both the short and medium term investors.
