Ahead Of RBI MPC Meet, Karnataka Bank, Canara Bank, IDFC First Bank, IndusInd Bank Revise FD Interest Rates

Ahead of the December Monetary Policy Meet of the Reserve Bank of India, many banks have revised the interest rates for their fixed deposit schemes across tenures.

Karnataka Bank and Canara Bank are among the latest lenders to revise their FD rates ahead of the RBI MPC meet announcements, scheduled to be made by governor Shaktikanta Das on Dec. 6. The RBI MPC meeting started on Dec. 4.

Fixed deposits offer fixed interest rates over a predetermined period and it could be a good option for investors looking for low-risk savings instruments. Most of the banks offer marginally higher interest rates to senior citizens on FD schemes across tenures.

Here are the latest fixed deposit interest rates of IDFC First Bank, Canara Bank, IndusInd Bank and Karnataka Bank.

The latest Karnataka Bank fixed deposit interest rates were revised on Dec. 2 and range from 3% to 8% per annum across all tenures for general public and senior citizens. 

After the latest revision, Karnataka Bank FD rate for deposits below Rs 3 crore for a tenure of 7 days to 45 days is 3%. For FDs of 1 year to 2 years duration, Karnataka Bank offers 7.25% interest for the general public, and 7.75% for senior citizens. The highest interest rate for senior citizens is 8% on a tenure of 375 days.

Here are the Karnataka Bank fixed deposit interest rates across different tenures for deposits worth less than Rs 3 crore.

Canara Bank FD rates were revised on Dec. 1. As per the latest update, Canara Bank fixed deposit interest rates range between 4% to 7.4% across different tenures and categories. The bank offers 0.50% extra interest to senior citizens for longer tenures. Canara Bank offers the highest interest rate for the tenure of 3 years and less than 5 years, offering 7.4% to the general public and 7.9% to senior citizens.

Here are the fixed deposit interest rates of Canara Bank across all tenures for deposits less than Rs 3 crore.

Private lender IndusInd Bank updated its FD rates starting from Nov. 26. The bank offers attractive FD interest rates up to 8.49%. The rates start from 3.50% and vary across different tenures. The highest interest rate is being offered for FDs between 17 months and 18 months at 7.99% to the general public and 8.49% to senior citizens.

Read below to find out IndusInd Bank FD rates for deposits of less than Rs 3 crore across tenures.

IDFC First Bank revised its FD rates from Nov. 26. The bank is offering interest rates between 3% and 8.40% across all categories. For a tenure of 400 days to 500 days the interest rate is 7.9% and 8.4% for general public and senior citizens, respectively. IDFC Bank also offers tax saving FDs and green deposits to its investors.

Check out IDFC First Bank FD interest rates in different tenures for deposits less than Rs 3 crore.