ICICI, Axis Among Four Banks Have Revised FD Rates, Seniors Can Earn Up To 8.60%

ICICI, Axis, RBL, and IDBI these four banks have revised FD rates in the week ending February 17, 2024. Banks offer additional interest rates to senior citizens. Let’s find out the interest rates senior citizens can get after these rate revisions.

ICICI Bank:

It revised the FD rates on February 17, offering senior citizens maximum of 7.75 per cent. For all tenures of more than one year, seniors can get more than 7.0 per cent. From one year to less than 15 months, the rate is 7.20 per cent and for 15 months to less than two years, it is 7.75 per cent. From two years to up to 10 years, the rate is 7.50 per cent.

Axis Bank:

Axis Bank offers the highest rate of 7.85 per cent to senior citizens after the revision. The bank revised the rates on February 14. Seniors get an additional 0.50 per cent for all tenures except for 5-10-year FDs, which provide 0.75 per cent extra. For all tenures from one year to less than 15 months, it is 7.20 per cent, for tenures from 15 months to less than five years, it is 7.60 per cent, except for 17 months to less than 18 months, where it offers the highest 7.85 per cent, and for five years to 10 years, it is 7.75 per cent.

Also Read: Here’s Why KYC Updation Is Important And How Seniors Can Use Video-Based KYC

RBL Bank:

Seniors can avail of a maximum of 8.60 per cent. After the rate revision on February 14, they can earn 8.00 per cent for a 12-month to less than 15-month FD, 8.30 per cent for 15 months to less than 18 months, and 8.60 per cent for 18 months to 24 months. Further, for 24 months one day to 36 months, it is 8.0 per cent,for 36 months one day to 60 months one day, it is 7.60 per cent and for 60 months two days to 120 months, it is 7.50 per cent.  Also Read: Explainer: What Is Mahila Samman Savings Certificate? All You Need To Know

IDBI Bank:

IDBI Bank revised rates on February 15. Its highest rate for senior citizens 7.75 per cent. It offers a 0.50 per cent additional rate to seniors. For one year to two years, it is 7.30 per cent, except for 375 days and 444 days, and 7.50 per cent for more than two years to less than three years. For three years to five years, the rate is 7.00 per cent; for more than five years to 10 years, it is 6.75 per cent.For its Utsav FDs, valid up to March 31, 2024, the rates are 7.55 per cent, 7.60 per cent, and 7.75 per cent for 300 days, 375 days, and 444 days, respectively.