Banks have increased their rates on both loans and deposits as the RBI’s Monetary Policy Committee (MPC) has raised the key repo rate twice in the last two review meetings and is expected to do so again this week. Recently, Kotak Mahindra Bank, DBS Bank, and Bank of Baroda increased their fixed deposit interest rates.
On deposits less than Rs 2 crore, here’s a comparison of the current fixed deposit (FD) interest rates offered by these three lenders: Kotak Mahindra Bank, DBS Bank, and Bank of Baroda:
Kotak Mahindra Bank’s FD Interest Rate (On Deposits Below Rs 2 Crore):
7 days to 14 days – 2.50 percent for the general public; 3.00 percent for senior citizens
15 days to 30 days – 2.50 percent for the general public; 3.00 percent for senior citizens
31 days to 45 days – 3.00% for the general public; 3.50% for senior citizens
46 days to 90 days – 3.00% for the general public; 3.50% for senior citizens
91 to 120 days – 3.50 percent for the general public; 4.00 percent for senior citizens
121 days to 179 days – 3.50 percent for the general public; 4.00 percent for senior citizens
180 days – 4.75 percent for the general public; 5.25 percent for senior citizens
181 days to 269 days – 4.75 percent for the general public; 5.25 percent for senior citizens
70 days – 4.75 percent for the general public; 5.25 percent for senior citizens
271 days to 363 days – 4.75 percent for the general public; 5.25 percent for senior citizens
364 days – 5.25 percent for the general public; 5.75 percent for senior citizens
365 days to 389 days – 5.60% for the general public; 6.10% for senior citizens
390 days (12 months 25 days)- 5.75 percent for the general public; 6.25 percent for senior citizens
391 days to less than 23 months – 5.75 percent for the general public; 6.25 percent for senior citizens
23 months – 5.75 percent for the general public; 6.25 percent for senior citizens
23 months 1 day to less than 2 years – 6.25 percent for the general public; 5.75 percent for senior citizens
2 years to less than 3 years – 5.75 percent for the general public; 6.25 percent for senior citizens
3 years and up but less than 4 years – 5.90% for the general public; 6.40% for senior citizens
4 years and up but less than 5 years – 5.90% for the general public; 6.40% for senior citizens
5 years and up to and including 10 years – 5.90% for the general public; 6.40% for senior citizens
DBS Bank’s FD Interest Rate (On Deposits Below Rs 2 Crore):
7 days – 2.50 percent for the general public; 3.00 percent for senior citizens
8 days to 14 days – 2.75 percent for the general public; 3.25 percent for senior citizens
15 to 29 days – 2.75 percent for the general public; 3.25 percent for senior citizens
30 to 45 days – 2.75 percent for the general public; 3.25 percent for senior citizens
46 days to 60 days – 2.75 percent for the general public; 3.25 percent for senior citizens
61 days to 90 days – 3.00% for the general public; 3.50% for senior citizens
91 days to 180 days – 3.00% for the general public; 3.50% for senior citizens
181 days to 269 days – 4.75 percent for the general public; 5.25 percent for senior citizens
270 days to less than a year – 4.75 percent for the general public; 5.25 percent for senior citizens
1 year to 375 days – 5.75 percent for the general public; 6.25 percent for senior citizens
376 days and less than 2 years – 6.00% for the general public; 6.50% for senior citizens
2 years and 6 months – 6.50 percent for the general public; 7.00 percent for senior citizens
two years and six months 1 day and less than 3 years – 6.50% for the general public; 7.00% for senior citizens
3 years and less than 4 years – 6.25 percent for the general public; 6.75 percent for senior citizens
4 years to less than 5 years – 6.25 percent for the general public; 6.75 percent for senior citizens
5 years and older: 6.25 percent for the general public; 6.75 percent for senior citizens.
Bank of Baroda’s FD Interest Rate (On Deposits Below Rs 2 Crore):
7 days to 14 days – 3.00% for the general public; 3.50% for senior citizens
15 days to 45 days – 3.00% for the general public; 3.50% for senior citizens
46 days to 90 days – 4.00% for the general public; 4.50% for senior citizens
91 days to 180 days – 4.00% for the general public; 4.50% for senior citizens
181 days to 270 days – 4.65 percent for the general public; 5.15 percent for senior citizens
271 days or more and less than a year – 4.65 percent for the general public; 5.15 percent for senior citizens
1 year – 5.30% for the general public; 5.80% for senior citizens
Above 1 year to 400 days – 5.45 percent for the general public; 5.95 percent for senior citizens
Above 400 days and up to 2 years – 5.45 percent for the general public; 5.95 percent for senior citizens
Above 2 years and up to 3 years – 5.50% for the general public; 6.00% for senior citizens
Above 3 years and up to 5 years – 5.50% for the general public; 6.00% for senior citizens
Above 5 years to up to 10 years – 5.50% for the general public; 6.00% for senior citizens