3 Large Private Banks & One Small Finance Bank That Revised Fixed Deposit Interest

It has been a flurry as far as interest rate hikes are concerned. Even as banks look at surging credit demand, they have to match the same with rising deposit rates.

Here are 3 large private banks and 1 small finance banks that have revised fixed deposit interest rates.

Kotak Mahindra Bank fixed deposit interest rates

The bank hiked interest rates recently. The bank now offers a maximum interest rate of 7.20% for tenures ranging from 390 days to 2 years, while senior citizens get a maximum interest rate of 7.70%. This is the best that it gets from Kotak Mahindra Bank fixed deposits. The other tenures come with a lower interest rate. The above interest rates are for a fixed deposit of Rs 2 crores and below.

Axis Bank Fixed deposit interest rates

This is another large private sector bank that revised fixed deposit interest rates recently. If you are a non senior citizen, Axis Bank offers an interest rate of 7.26% for deposit tenures ranging from years 2 years to 30 months. Senior citizens on the same tenure get an interest rate of 8.01% which is not bad at all. These are for deposits under Rs 2 crores.

Ujjivan Small Finance Bank fixed deposit interest rates

Ujjivan Small Finance Bank offers a maximum interest rate of 8.65% on 60 weeks deposit, under the Platina Deposit scheme. For Platina Deposits the applicable minimum amount that is possible is Rs 15 lakhs. For regular deposits the maximum offered interest rate is 8.25% on 80 Weeks (560 Days) for regular deposits, with senior citizen being entitled to an extra 0.50%.

IDFC First Bank Deposit interest rates revised

IDFC First Bank has also revised its interest rates recently. The bank now offers a maximum interest rate of 7.75%, while senior citizens are entitled to an interest rate of 8.25% maximum depending on the tenure. The good thing about these deposits is that that even the long-term tenure of 3-years offers a very good interest rate of 7.75% and 8.25%. Investors are always advised to for long-term rates.