Earn up to 7.9% Fixed Deposit Rate: 5 Banks Review Fixed Deposit Interest Rates in August 2024
Bandhan Bank FD Interest Rates
The bank offers interest rates between 3% and 8% for general citizens with terms between 7 days and 10 years. For senior citizens, the bank offers between 3.75% and 8.50%. The bank offers the highest interest rate of 8% and 8.50% with terms of 1 year and 9 months.
| Cube of maturity | Interest rates for non-senior citizens | Interest rates for seniors |
| 7 days to 14 days | 3.00% | 3.75% |
| 15 days to 30 days | 3.00% | 3.75% |
| 31 days to less than 2 months | 3.50% | 4.25% |
| 2 months to less than 3 months | 4.50% | 5.25% |
| 3 months to less than 6 months | 4.50% | 5.25% |
| 6 months to less than 1 year | 4.50% | 5.25% |
| 1 year to less than 1 year 9 months | 7.25% | 7.75% |
| 1 year 9 months | 8.00% | 8.50% |
| 1 year 9 months 1 day to less than 2 years | 7.25% | 7.75% |
| 2 years to less than 3 years | 7.25% | 7.75% |
| 3 years to less than 5 years | 7.25% | 7.75% |
| 5 years to 10 years | 5.85% | 6.60% |
Premature retirement
According to Bandhan Bank’s website, “In case of early withdrawals, a penalty interest rate of 1% will be applicable on the card rate. The card rate for premature closure will be the lower of the rate for the original/contracted period for which the deposit was registered or the rate applicable to the period for which the deposit was outstanding with the Bank.”Bank of Baroda revises fixed deposit interest rates; get fixed deposit rates up to 7.9%Savings account
Bandhan Bank also offers 7% interest rate on balance above Rs.10 lakh in savings account.
account. The bank is offering 8% on the balance above Rs 50 crore to Rs 100 crore.
Bank of Baroda has also revised the interest rates on fixed deposits for amounts below Rs 3 crore. The new rates will come into effect from August 13, 2024, according to the Bank of Baroda website. The bank is offering FD interest rates between 4.25% and 7.25% for general citizens with tenors between 7 days and 10 years for amounts below Rs 3 crore for callable deposits. For senior citizens, the bank is offering interest rates between 4.75% and 7.75%.
Several banks revised their fixed deposit interest rates in August. Federal Bank, Punjab National Bank (PNB), Karnataka Bank and Union Bank of India changed their fixed deposit rates on August 1 and 2, 2024.
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