Earn up to 8.1% FD interest rate: These four banks have revised fixed deposit rates in September 2024 (2024)

Synopsis

Earn up to 8.1% FD interest rate: Some banks have revised the interest rates for their fixed deposit (FD) accounts for deposits less than Rs 3 crore, which will be in effect from September 2024. Let's examine the fixed deposit interest rates that apply to both regular customers and senior citizens.

Earn up to 8.1% FD interest rate: These four banks have revised fixed deposit rates in September 2024 (1)

Some banks have recently revised their fixed deposit (FD) interest rates for deposits under Rs 3 crore, effective from September 2024. The latest banks to revise their FD rates are Bank of India, City Union Bank, Bank of Baroda and Karnataka Bank. Let's take a look at the fixed deposit interest rates applicable to both general and senior citizens.

FD rate up to 8.25%: Which bank is offering highest interest rate on one-year fixed deposits? Check full list

Bank of Baroda

Bank of Baroda has revised fixed deposit interest rates for amounts below Rs 3 crore. The new rates are effective from September 5, 2024, as per the Bank of Baroda website.After the revision, the bank will offer FD interest rates between 4.25% and 7.30% for general citizens on tenures between 7 days to 10 years for amounts below Rs 3 crore for callable deposits. For senior citizens, the bank offers an interest rate between 4.75% to 7.80%.

FD interest rate up to 7.8%: Bank of Baroda revises fixed deposit rates

Bank of India

Bank of India has revised its fixed deposit (FD) interest rates for amounts less than Rs 3 crore and launched a new special fixed deposit tenure with higher interest rates. The revised FD rates are effective from September 1, 2024.

After the revision, the bank will offer FD interest rates between 3% and 7.25% for tenures between 7 days to 10 years for deposits of less than Rs 3 crore for general citizens. For senior citizens, the bank offers an interest rate between 3% to 7.75%. For super senior citizens (aged above 80 years), the bank offers interest rate between 3% to 7.90%.

Bank of India- Star Dhan Vriddhi details

The new tenure launched is 333 days fixed deposit dubbed as Star Dhan Vriddhi, it offers highest interest rate of 7.25%, 7.75% and 7.90% for general citizens, senior citizens, and super senior citizens respectively.

Maturity (For NRE Rupee Term Deposits,	For deposits of less than Rs.3 Cr	For deposits of Rs.3 Cr & above but less than Rs.10 Crs
min. tenor is 1 Year and Max. 10 Years)	Revised w.e.f 01.09.2024	Revised w.e.f 01.08.2024
7 days to 14 days	3	4.5
15 days to 30 days	3	4.5
31 days to 45 days	3	4.5
46 days to 90 days	4.5	5.25
91 days to 179 days	4.5	6
180 days to 210 days	6	6.5
211 days to 269 days	6	6.75
270 days to less than 1 Year (except 333 Days)	6	6.75
333 days (Star Dhan Vriddhi )	7.25	6.75
1 Year	6.8	7.25
Above 1 Year to less than 2 Years	6.8	6.75
2 Years	6.8	6.5
Above 2 Years to less than 3 Years	6.75	6.5
3 Years to less than 5 Years	6.5	6
5 Years to less than 8 Years	6	6
8 years & above to 10 Years	6	6

Karnataka Bank

Karnataka Bank has revised its fixed deposit interest rates for amounts below Rs 3 crore effective from September 3, 2024. After the revision, the bank offers interest rate between 3.50% to 7.50% for general citizens and for senior citizens the banks offers interest rate between 3.75% to 8%. The highest interest rate of 7.50% and 8% is offered on tenure of 375 days.

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
250 days only (FD & ACC)	6.75
1 year to 2 year	7.35
375 days (FD & ACC)*	7.5
Above 2 years to 5 years	6.5
Above 5 years to 10 years	5.8

City Union Bank

City Union Bank has revised its fixed deposit interest rates for amounts below Rs 3 crore effective from September 1, 2024. After the revision, the bank offers interest rate between 5% to 7.50% for general citizens and for senior citizens the banks offers interest rate between 5% to 8%. The highest interest rate of 7.50% and 8% is offered on tenure of 333 days.

For Super Senior citizens, the bank offers the highest interest rate of 8.10%.

Period	Rate of Interest % p.a
Period	General	Senior Citizens
7 days to 14 days	5.00%	5.00%
15 days to 45 days	5.50%	5.50%
46 days to 90 days	5.75%	5.75%
91 days to 180 days	6.00%	6.00%
181 days to 270 days	6.25%	6.50%
271 days to 332 days	6.50%	6.75%
333 days	7.50%	8.00%
334 days to 400 days	7.00%	7.25%
401 days to 3 Years	6.50%	6.75%
Above 3 Years upto 10 Years	6.25%	6.50%
Tax Saver	7.10%	7.10%