Mumbai: Four banks in the country have revised interest rates on their Fixed Deposits (FDs). The rates have been revised for sums under Rs 3 crore. These banks include Axis Bank, ICICI Bank, Ujjivan Small Finance Bank and Punjab and Sindh Bank.
Axis Bank has modified the interest rates on its FDs up to Rs 3 crore. Senior citizens will get a maximum rate of 7.75% on tenure between 5 and 10 years and for other customers, the maximum interest rate can reach 7.2% for terms ranging from 17 to 18 months.
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Ujjivan Small Finance Bank has modified the interest rates on its FDs. The bank gives senior citizens the highest interest rate of 8.75% on FDs up to Rs 3 crore with a 12-month tenor. The maximum interest rate on FDs for others can increase to 8.25% during 12 months.
ICICI Bank has modified the interest rates on its FDs. The bank gives the maximum interest rate of 7.75% for elderly individuals with 15 to 18-month term FDs. The maximum interest rate on FDs for others can reach 7.2% for terms ranging from 15 months to 2 years. The revised rates apply to FDs up to Rs 3 crore.
Punjab and Sindh Bank has modified the interest rates on its FDs. The bank provides elderly people the highest interest rate of 7.80% on FDs up to Rs 3 crore for a period of 666 days. The maximum interest rate on FDs for other customers might reach 7.3% over the same period of time.
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