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Three banks revise FD rates in October 2024: Get up to 8.05% interest on fixed deposits – check latest rates – Times of India

Umang Sagar Business News 119 Views
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We take a look at the revised FD rates of these banks. (AI image)

Latest FD rates: In October 2024, three major Indian banks – Punjab National Bank, Punjab & Sindh, and Bank of Baroda – have announced revisions to their fixed deposit interest rates. We take a look at the revised FD rates of these banks, as listed by ET:

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Punjab National Bank: Latest Fixed Deposit Rates

  • Following the revisions, Punjab National Bank’s fixed deposit interest rates range from 3.50% to 7.25% for tenures spanning 7 days to 10 years for general citizens.
  • Senior citizens can avail interest rates between 4% and 7.75%, while super senior citizens are offered rates ranging from 4.30% to 8.05%.
  • The bank’s highest interest rate of 7.25% for general citizens, 7.75% for senior citizens, and 8.05% for super senior citizens is applicable on the 400-day tenure. These revised rates came into effect from October 1, 2024.

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Sl. No Period Revised Rates For Public w.e.f. 01.10.2024 *Revised Rates for Senior Citizens w.e.f. 01.10.2024 #Revised Rates for Super Senior Citizens w.e.f. 01.10.2024
1 7 to 14 Days 3.5 4 4.3
2 15 to 29 Days 3.5 4 4.3
3 30 to 45 Days 3.5 4 4.3
4 46 to 60 Days 4.5 5 5.3
5 61 to 90 Days 4.5 5 5.3
6 91 to 179 Days 5.5 6 6.3
7 180 to 270 Days 6.25 6.75 7.05
8 271 Days to 299 Days 6.5 7 7.3
9 300 Days 7.05 7.55 7.85
10 301 Days to < 1 Year 6.5 7 7.3
11 1 Year 6.8 7.3 7.6
12 > 1 Year to 399 days 6.8 7.3 7.6
13 400 Days 7.25 7.75 8.05
14 401 Days to 2 Years 6.8 7.3 7.6
15 > 2 years to 3 years 7 7.5 7.8
16 > 3 years to 1203 days 6.5 7 7.3
17 1204 days** 6.4 6.9 7.2
18 1205 days to 5 years 6.5 7 7.3
19 > 5 years to 1894 days 6.5 7.3 7.3
20 1895 days** 6.35 7.15 7.15
21 1896 days to 10 years 6.5 7.3 7.3

Punjab & Sind Bank: Latest Fixed Deposit Rates

Punjab & Sind provides fixed deposit interest rates ranging from 2.80% to 7.25% for tenures spanning 7 days to 10 years for general customers.These rates have been in effect since October 1, 2024.
As per the bank’s website, “Senior Citizens shall be given benefit of additional interest of 0.50% on term deposits of less than Rs. 3 crore, over and above the mentioned rates for the maturity of 180 days & above on fresh as well as on renewal of term deposits, same shall not be available to NRE, NRO deposits, capital gain and Bulk deposits.”
Furthermore, Punjab & Sind offers Super Senior Citizens an additional interest benefit of 0.15% on specific period Term Deposits (i.e., 222 Days, 333 Days, 444 Days, 666 Days, 999 Days) of less than Rs. 3 crore.

Revised w.e.f. 01/10/2024 (% p.a.)
Maturity Fixed Deposit
Less than Rs.3 Cr
7 – 14 Days 2.80(#)
15 – 30 Days 2.8
31 – 45 Days 3
46 – 90 Days 4.25
91 – 120 Days 4.25
121-150 Days 4.75
151 – 179 Days 4.75
180 – 221 Days 5.25
222 Days 6.30($)
223 – 269 Days 5.25
270 – 332 Days 5.5
333 Days 7.15($)
334-<1 Year 5.5
1 Year 6.3
>1 Years – 443 Days 6
444 Days 7.25($)
445 Days – 665 Days 6
666 days 7.3
667 Days-2 years 6
Above 2 years<998 days 6.3
999 days 6.65
1000 Days < 3 years 6.3
3 years – 5 years 6
>5 years – 10 years 6.25

Bank of Baroda: Latest Fixed Deposit Rates

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Bank of Baroda provides fixed deposit interest rates that vary based on the tenure and the customer’s age. For the general public, the interest rates range from 4.25% to 7.15% for tenures spanning from 7 days to 10 years. Senior citizens, on the other hand, can benefit from higher interest rates, ranging from 4.75% to 7.60%. These updated rates have been in effect since October 3, 2024.
The Bank of Baroda website states, “(* incl. additional ROI 0.50% for RTD upto 3 Years and Above 10 Years, # incl. additional ROI of 0.50+0.15 for RTD above 3 Years and upto 5 Years, ** incl. additional ROI of 0.50%+0.50% for RTD above 5 Years and upto 10 Years to Resident Senior Citizens)”

Tenors Residents / General Public Resident Indian Sr. Citizen
7 days to 14 days 4.25 4.75*
15 days to 45 days 4.5 5.00*
46 days to 90 days 5.5 6.00*
91 days to 180 days 5.6 6.10*
181 days to 210 days 5.75 6.25*
211 days to 270 days 6.25 6.75*
271 days & above and less than 1 year (except 360 Days) 6.5 7.00*
360 Days (bob360) 7.1 7.60*
1 year 6.85 7.35*
Above 1 year to 400 days 7 7.50*
Above 400 days and upto 2 Years 7 7.50*
Above 2 Years and upto 3 Years 7.15 7.65*
Above 3 Years and upto 5 Years 6.5 7.15 #
Above 5 Years and upto 10 Years 6.5 7.50**
Above 10 years (MACT/MACAD 6.25 6.75*
Court Order schemes only





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