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Fixed Deposit: If you want to invest your savings in Fixed Deposit (FD), then this news is for you. Bank FD has become attractive in the year 2023 as many banks are now offering more than 7% interest to general customers. However, following the Reserve Bank of India’s (RBI) decision to halt repo rate hikes, banks have stopped raising FD rates. Kotak Mahindra Bank, Axis Bank and IDBI Bank have changed their FD rates in the month of September.
Kotak Mahindra Bank FD Rates
Kotak Mahindra Bank has revised its fixed deposit interest rates. After this change in interest rates, Kotak Bank is offering 2.75% to 7.25% interest on 7 day to 10 year FD to general customers. At the same time, the bank is offering 3.25% to 7.75% interest to its senior citizen customers in the same period. The increased new interest rates will be effective from September 13, 2023.
Axis Bank FD Rates
Axis Bank has changed the interest rates on its fixed deposits. According to the bank’s official website, these rates will be applicable from September 18, 2023. Axis Bank It offers 3% to 7.10% interest to its general citizens and 3% to 7.75% to its senior citizen customers.
IDBI Bank Interest Rates
IDBI Bank has also revised its fixed deposit rates. According to the bank’s website, these rates will be applicable from September 15, 2023. IDBI Bank is offering 3% to 6.8% interest on 7 day to 5 year FD to general customers and 3.5% to 7.3% interest to senior citizen customers.
Disclaimer: Here is information about share performance only, not investment advice. Investment in stock market is subject to risk and please consult your advisor before investing.