MUMBAI: The war for deposits is not over yet. As the banking system continues to face a liquidity shortage, top banks are revising their rates through special tenures, senior citizen benefits, and bulk deposit schemes. IDBI Bank is the latest to introduce higher rates for super senior citizens, while Bank of Baroda has launched a…
It’s important to note that deposits in small finance banks come with DICGC insurance protection of up to Rs 5 lakh. (AI image) Top Bank FD rates: Although interest rates have generally peaked, several banks continue to provide attractive fixed deposit rates for retail customers depositing less than Rs 3 crore. Senior citizens receive preferential…
Latest Fixed Deposit Terms: Following the Reserve Bank of India’s (RBI) latest monetary policy meet, several major banks have adjusted their fixed deposit terms and interest rates in line with the new regulations. RBI governor Shaktikanta Das on Friday announced a change in the definition of bulk fixed deposits, suggesting that banks’ fixed deposits of…
Fixed deposit interest rates: Several banks have updated their fixed deposit (FD) interest rates in April 2024, offering varying rates depending on the deposit plan. These revisions are part of the banks’ regular updates to their deposit interest rates. It’s important to understand that while existing deposits will maintain their agreed-upon interest rates, new deposits…
