Private sector lender IDFC First Bank gives interest ranging from 7% to 8.5% on deposits maturing in 1 year to 10 years. Meanwhile, senior citizens to get an additional spread of 50 basis points over the rate of general customers. For deposits maturing in 7-14 days, IDFC First Bank offers 4.00%, for 15-29 days, 5.00% and for 30-45 days, the bank offers an interest rate of 6.25%. FDs maturing in 46-90 days will fetch an interest of 6.50% and those deposits maturing in 91-180 days will offer 6.75% interest.
IDFC First Bank latest FD rates for the general public (below Rs 2 crore) :
7-14 days 4.00%
15-29 days 5.00%
30-45 days 6.25%
46 -90 days 6.50%
91-180 days 6.75%.
The top lenders like Kotak Mahindra Bank, Axis Bank and ICICI Bank revised their interest rates on fixed deposit (FD) accounts. Most of the banks like State Bank of India(SBI), HDFC, Punjab National Bank (PNB), Canara Bank, Bank of India and Federal Bank have revised interest rates on FDs this month. Before this month, Reserve Bank of India (RBI) slashed lending rate.