The fixed deposit interest rates of Jana Small Finance Bank and Kotak Mahindra Bank have increased. Seniors can now earn up to 8.8% interest with Jana Small Finance Bank and up to 7.5% with Kotak Mahindra Bank thanks to recent rate increases. Axis Bank is offering interest rates for senior citizens between 3.50% and 7.75%.
Jana Small Finance Bank:
The Jana Small Finance Bank has stated that starting on December 15, 2022, interest rates on normal fixed deposits would increase. The bank currently offers one of the highest interest rates on fixed deposits as a result of the hike.
Customers will now receive interest rates on deposits for a term of two to three years that can reach 7.85%, according to Jana Small Finance Bank. 8.80% on an FD is available to senior citizens for a period of two to three years.
For deposits made for two to three years, the bank is giving senior citizens 8.8% interest. The bank is giving senior citizens 8.20% interest on deposits made for a year. Jana bank is also paying 8.2% interest on 5-year savings and 8.45% interest on accounts between one and two years. Jana Bank is giving 8.3% interest on deposits for 3-5 years.
Kotak Mahindra Bank:
The interest rates on fixed deposits have increased for all tenors at Kotak Mahindra Bank. Beginning on December 15, 2022, the bank will provide a 7% interest rate for the tenors of 390 days (12 months 25 days), 391 days-less than 23 months, and 23 months.
The Kotak Mahindra Bank is giving senior citizens 7.5% interest on savings for 390, 391 and 23-month terms. The bank is giving senior citizens a 7.25% return on 365–389 day deposits.
Axis Bank:
Axis Bank's latest FD interest rates for maturities between 6 months and 9 months have climbed to 5.75% following the most recent increase.
A 6% interest rate will now be paid on deposits that mature in 9 months to less than a year. For tenures of between one year and less than two years, the bank will give an interest rate of 6.75%.
For tenures ranging from seven days to ten years, Axis Bank offers interest rates between 3.5% and 7.75% for senior citizens.
