These banks revised FD rates in November; check new rates

In the first week of November 2021, four public and private sector banks — Indian Bank, Yes Bank, Axis Bank and DCB Bank – revised fixed deposit interest rates. Interest rates vary from bank to bank. So, it is important to know about the recent changes:

Indian Bank FD rates

Indian Bank, a public sector bank, slashed 0.05 percentage point from their existing rates on FDs of less than Rs 2 crore on tenure of less than five years. After the revision they are offering a minimum rate of 2.80% to a maximum one of 5.25% interest rate across tenures between seven days to more than above five years to the general public. The new rates came into effect from November 5, 2021.

Take a look at tenure-wise rates:

– 7 days to 14 days, 15 days to 29 days, 30 days to 45 days: 2.8%

–  46 days to 90 days: 3.25%

–  91 days to 120 days: 3.35%

–  121 days to 180 days: 3.50%

–  181 days to less than 9 months: 4%

–  9 months to less than 1 year: 4.4%

–  1 year: 4.95%

–  Above 1 year to less than 2 years: 5%

–  2 years to less than 3 years: 5.1%

–  3 years to less than 5 years: 5.20%

–  5 years: 5.25%

–  Above 5 years: 5.15%

Senior citizens will continue to get an additional rate of 0.50% per annum for an amount up to Rs 10 crore.

Yes Bank FD rates

Yes Bank has changed interest rates on FDs of less than Rs 2 crore on different tenures. Now they are offering a minimum of 3.25% to a maximum of 6.25% interest across tenures between seven days to 10 years to the general public. The new rates came into effect from November 3, 2021.

Take a look at tenure-wise rates:

–  7 to 14 days: 3.25%

–  15 to 45 days: 3.50%

–  46 to 90 days: 4%

–  3 months to less than 6 months: 4.50%

–  6 months to less than 9 months: 5%

–  9 months to less than 1 year: 5.25%

–  1 year to less than 3 years: 6%

–  3 years to less or equal to 10 years: 6.25%

Senior citizens continue to get 0.50% higher interest rate than the general public on deposits tenure between 7 days to less than 3 years and 0.75% on tenure between 3 years to less or equal to 10 years. The bank offers interest rates from 3.75% to 7% on FDs maturing in 7 days to 10 years.

Axis Bank FD rates

Axis Bank, too, revised interest rates on fixed deposits (FDs) across different tenures, ranging from 7 days to 10 years. After the latest revision on deposits less than Rs 2 crores, this private sector lender is offering minimum 2.50% to maximum 5.75% interest rate to the general public.

Axis Bank has as many as 29 tenure slabs. Take a look on tenure-wise rates:

–  7 days to 14 days, 15 days to 29 days: 2.5%

–  30 days to 45 days, 46 days to 60 days, 61 days to less than 3 months: 3%

–  3 months to less than 4 months, 4 months to less than 5 months, 5 months to less than 6 months: 3.5%

–  6 months to less than 7 months, 7 months to less than 8 months, 8 months to less than 9 months, 9 months to less than 10 months, 10 months to less than 11 months, 11 months to less than 11 months 25 days, 11 months 25 days to less than 1 year: 4.4%

–  1 year to less than 1 year 5 days: 5.1%

–  1 year 5 days to less than 1 year 11 days: 5.15%

–  1 year 11 days to less than 1 year 25 days, 1 year 25 days to less than 13 months: 5.2%

–  13 months to less than 14 months, 14 months to less than 15 months, 15 months to less than 16 months, 16 months to less than 17 months, 17 months to less than 18 months: 5.1%

–  18 months to less than 2 years: 5.25%
– 2 years to less than 30 months, 30 months to less than 3 years, 3 years to less than 5 years: 5.4%

–  5 years to 10 years: 5.75%

Senior citizens who hold domestic fixed deposit accounts can enjoy interest rates from a low of 2.50% to a high of 6.50%.

DCB Bank FD rates

DCB Bank, one of the private sector banks, has also recently revised interest rates on fixed deposits. After the latest revision, it offers rates between 4.35% and 5.95% on term deposits below Rs 2 crore for tenures between 7 days and 10 years for the general public. New rates applicable from November 2, 2021.

Tenure-wise interest rates:

–  7 days to 14 days, 15 days to 45 days, 46 days to 90 days: 4.35%

–  91 days to less than 6 months: 5.05%

–  6 months to less than 12 months: 5.45%

–  12 months: 5.55%

–  More than 12 months to less than 15 months: 5.30%

–  15 months to less than 18 months, 18 months to less than 700 days, more than 700 days to less than 36 months: 5.50%

–  700 days, 36 months, more than 36 months to 60 months, more than 60 months to 120 months: 5.95%