Nainital Bank Revises FD Rates, Offers Super Seniors Up To 7.60%

The Reserve Bank of India (RBI) has been taking several measures in the last couple of months to infuse liquidity into the system in order to maintain a balance between inflation and growth. Reducing the repo rate by 25 basis points (bps) in the February monetary policy committee (MPC) meeting was one such step it took. Notably, banks and other financial institutions accordingly bring in changes in their lending and deposit rates. However, the transmission of the repo rate changes into the banking system takes some time or months before they start reflecting the effect.

The banks individually adjust and fix their lending rates, determine the deposit requirement and the deposit rates, and then adjust these to maintain the liquidity ratio. During the week ending March 8, 2025, Nainital Bank revised its fixed deposit (FD) rates after a long time. After revision, the highest rate offered by the bank is 7.50 per cent for senior citizens (60 years and above) and 7.60 per cent for super senior citizens (80 years and above).

Here are the interest rates details the bank offers to seniors and super seniors.

Nainital Bank:

This scheduled commercial bank revised its FD rates on March 3, 2025. After the latest revision, this private sector bank offers the highest deposit rate of 7 per cent to the general public for two tenures: ‘Above 18 months but less than or equal to two years’ and ‘300 days’. For senior citizens, the interest is 0.50 per cent or 50 bps higher, while for super seniors; it is 0.60 per cent (60 bps) higher for all tenures including these two.

FD Rates for Senior Citizens

• 4.75 per cent for 91 to 179 days

• 5.45 per cent for 180 days and above but less than 270 days

• 6.25 per cent for 270 days to less than one year

• 7.20 per cent for one year and above 18 months

• 7.50 per cent for above 18 months to two years

• 6.75 per cent for above two years to three years

• 6.25 per cent for above three years to five years

• 5.85 per cent for above five years to 10 years

• 7.50 percent for Naini Monsoon Dhamaka Term Deposit Scheme (300 Days).

FD Rates for Super Seniors:

• 4.85 per cent for 91 to 179 days

• 5.55 per cent for 180 days and above to less than 270 days

• 6.35 per cent for 270 days and above to less than one year

• 7.30 per cent for one year to 18 months

• 7.60 per cent for above 18 months to two years

• 6.85 per cent for above two years to three years

• 6.35 per cent for above three years to five years

• 5.95 per cent for above five years to 10 years

• 7.60 percent for the Naini Monsoon Dhamaka term deposit scheme (300 days).