**Senior Citizens FD interest rates are only applicable for Domestic Term Deposits.Īn additional interest rate of 5 basis points (bps) over & above the existing 50 bps, will be paid to Senior Citizens on FDs (less than Rs 2 crore) for tenures of 15 months to less than 18 months and 18 months to less than 2 yearsĪn additional interest rate of 10 bps over & above the existing 50 bps, will be paid to Senior Citizens on FDs (less than Rs 2 crore) for tenures of 5 years and above. *NRE rates are only applicable for a tenure of 1 year and above. Single deposit of ₹2 Crores & above but less than ₹5 Crores Interest rates (per cent per annum) w.e.f. Livemint tops charts as the fastest growing news website in the world 🌏 Click here to know more.Interest rates (per cent per annum) w.e.f. We advise investors to check with certified experts before taking any investment decisions. You can avail of loans against your floating rate fixed deposit.ĭisclaimer: The views and recommendations made above are those of individual analysts, and not of Mint.

Senior citizens enjoy the special benefit of a higher interest rate of 50 basis points more than general customers. The interest pay-out for a floating rate FD takes place on the last day of every quarter. The investor will enjoy higher returns if the base rate of floating rate FDs has an increasing trend. Investors would do well not to invest in these FDs, as the interest rates are expected to decrease soon, said Anshul Gupta. Some banks are trying to sell floating-rate FDs. Should you invest in floating-rate fixed deposits? “Customers can lock in their money in FDs of shorter tenures offering higher returns,' said Adhil Shetty, CEO, of. Small finance banks are a good choice as they offer about 1-2% per annum extra interest compared to most established banks,' said Anshul Gupta, Co-Founder and Chief Investment Officer, of Wint Wealth.

Given the context, this is the best time to lock your money into high-return FDs.

Gradually, the market will start factoring this, which will have a downward impact on the FD returns of various banks, small finance banks, and NBFCs. “We expect that the key policy rates will come down post-Q2 2024.

Since there is no change in the repo rate so should one invest in a floating-rate fixed deposit? Well, personal finance experts say that this is the best time to lock your money into high-return term deposits.

Hdfc fixed deposit interest rates 2024