Latest FD interest rates: In May 2024, several banks revised their fixed deposit (FD) interest rates, providing opportunities for investors to earn higher returns. The banks that revised their rates include Utkarsh Small Finance Bank (SFB), City Union Bank, RBL Bank, and Capital Small Finance Bank. As per an ET report, here’s all you need to know about their revised rates:
Utkarsh Small Finance Bank
Utkarsh Small Finance Bank changed its fixed deposit interest rates for amounts under Rs 2 crore.
The new rates, effective from May 1, 2024, range from 4% to 8.50% for regular customers. For senior citizens, rates range from 4.60% to 9.10%. The highest rates, 8.50% for regular customers and 9.10% for senior citizens, are for deposits with a term of 2 to 3 years.
| Sr. | Regular | Senior Citizens | |
| No. | Tenure | Interest Rate | Interest Rate |
| 1 | 7 Days to 45 Days | 4.00% | 4.60% |
| 2 | 46 Days to 90 Days | 4.75% | 5.35% |
| 3 | 91 Days to 180 Days | 5.50% | 6.10% |
| 4 | 181 Days to 364 Days | 6.50% | 7.10% |
| 5 | 365 Days to 699 Days | 8.00% | 8.60% |
| 6 | 700 Days to less than 2 Years | 8.25% | 8.85% |
| 7 | 2 Years (730 Days) to 3 Years (1096 | 8.50% | 9.10% |
| Days) | |||
| 8 | Above 3 Years to less than 4 Years | 8.25% | 8.85% |
| 9 | 4 Years (1461 Days) upto 5 Years | 7.75% | 8.35% |
| (1826 Days) | |||
| 10 | Above 5 Years to 10 Years | 7.25% | 7.85% |
RBL Bank
RBL Bank has updated its fixed deposit interest rates for amounts below Rs 2 crore, with the changes taking effect on May 1, 2024. The bank offers an 8% interest rate on FDs with a maturity of 18 to 24 months. For senior citizens, the rate is 8.50%, which is 0.50% higher than for regular customers. Super senior citizens (80 years and above) get an additional 0.75%, earning an 8.75% interest rate for the same tenure.
| Period of Deposit | Domestic & Flexi FD Interest Rates p.a. | Senior Citizen Interest Rates p.a. |
| 7 days to 14 days | 3.50% | 4.00% |
| 15 days to 45 days | 4.00% | 4.50% |
| 46 days to 90 days | 4.50% | 5.00% |
| 91 days to 180 days | 4.75% | 5.25% |
| 181 days to 240 days | 5.50% | 6.00% |
| 241 days to 364 days | 6.05% | 6.55% |
| 365 days to 452 days (12 months to less than 15 months) | 7.50% | 8.00% |
| 453 days to 545 days (15 months to less than 18 months) | 7.80% | 8.30% |
| 546 days to 24 months (18 months to 24 months) | 8.00% | 8.50% |
| 24 months 1 day to 36 months | 7.50% | 8.00% |
| 36 months 1 day to 60 months 1 day | 7.10% | 7.60% |
| 60 months 2 days to 120 months | 7.00% | 7.50% |
ALSO READ | Senior Citizens Savings Scheme vs Bank FDs: Interest rates, tax benefits, and deposit limits compared
Capital Small Finance Bank
Capital Small Finance Bank has updated its fixed deposit interest rates for amounts below Rs 2 crore, with the new rates effective from May 6, 2024. General citizens can earn between 3.5% and 7.55%, while senior citizens get rates between 4% and 8.05%. The highest interest rate is available for a 400-day fixed deposit.
| Tenue | General citizens | Senior citizens |
| 15 Days to 30 Days | 3.50% | 4.00% |
| 31 Days to 45 Days | 3.50% | 4.00% |
| 46 Days to 89 Days | 4.00% | 4.50% |
| 90 Days to 179 Days | 4.75% | 5.25% |
| 180 Days to less than 1 Year | 5.50% | 6.00% |
| 1 Year to less than 5 Years | 7.15% | 7.65% |
| 5 Years and upto 10 Years | 7.10% | 7.60% |
| 12 Months | 7.50% | 8.00% |
| 400 Days | 7.55% | 8.05% |
| 600 Days | 7.40% | 7.90% |
| 900 Days | 7.30% | 7.80% |
City Union Bank
City Union Bank has updated its fixed deposit interest rates for deposits under Rs 2 crore. The new rates take effect on May 6, 2024. For general citizens, the interest rates range from 5% to 7.25%, while senior citizens can earn between 5% and 7.75%. The highest rates, 7.25% for general citizens and 7.75% for senior citizens, are available for fixed deposits with a tenure of 400 days.
| Period | Rate of Interest % p.a | |
| General | Senior Citizens | |
| 7 days to 14 days | 5.00% | 5.00% |
| 15 days to 45 days | 5.50% | 5.50% |
| 46 days to 90 days | 5.75% | 5.75% |
| 91 days to 180 days | 6.00% | 6.00% |
| 181 days to 270 days | 6.25% | 6.50% |
| 271 days to 364 days | 6.50% | 6.75% |
| 365 days to 399 days | 7.00% | 7.25% |
| 400 days | 7.25% | 7.75% |
| 401 days to 3 Years | 6.50% | 6.75% |
| Above 3 Years upto 10 Years | 6.25% | 6.50% |
| Tax Saver | 7.10% | 7.10% |
