Many banks recently revised their fixed deposit interest rates. The Reserve Bank of India slashed the repo rate by 25 basis points to 5.15 per cent last week. Banks usually lower the fixed deposit interest rates whenever there is fall in key interest rate and surplus liquidity. Here’s a look at the latest interest rates offered by some of India’s leading public sector banks on fixed deposits of various terms.
|Interest Rates Offered By Private Banks|
|Bank||<1 Year||>=1 to <=2||2 to <=3||3 to <=5|
|IDFC First Bank||7||8||7.5||7.5|
|J & K Bank||6.25||6.75||6.75||6.75|
|Data taken from respective bank’s website as on 08 Oct 19|
|For each year range, maximum offered interest rate is considered; Interest Rate for normal fixed deposit amount below Rs 1 Cr|
|Compiled by BankBazaar.com|
BankBazaar.com is a neutral online marketplace for loans and credit cards.