Government and private banks gave a big blow to FD holders, now they will get this much interest
Bank FD - RBI (Reserve Bank of India) changed the repo rate for the second time in April. After which, many government and private banks have revised their interest rates. Due to which FD customers have got a big shock... Now this much interest is being given on FD of these banks-
Breaking News, Digital Desk- ( FD Interest Rates) After the RBI (Reserve Bank of India) changed the repo rate for the second time in April, many public and private banks have revised their interest rates.
Bank of Baroda and Kotak Mahindra Bank have revised their fixed deposit interest rates in May 2025. Bank of Baroda has reduced the interest rate on deposits of less than Rs 3 crore.
Kotak Mahindra cuts 50 basis points-
Apart from this, Kotak Mahindra Bank has reduced the interest rate by 50 basis points for a specific period. These changes have happened after April 2025.
This change is applicable to both common citizens and senior citizens. Let us know about the new FD interest rate of both the banks.
Bank of Baroda has reduced the interest rate on FDs of less than Rs 3 crore for some period. The new rates are applicable from May 5, 2025. The bank had also changed the FD rate in April 2025.
What is the new reduced interest rate?
After the recent change, general citizens will get 4% to 7.10% interest on FDs of 7 days to 10 years in Bank of Baroda. The interest rate for senior citizens is 4.50% to 7.60%.
Under the Baroda Square Drive Deposit Scheme (444 days), general citizens will get 7.10% interest, senior citizens will get 7.60% and super senior citizens will get 7.70% interest.
Earlier these rates were 7.15%, 7.65%, and 7.75% respectively. This scheme is for FDs of 444 days and is applicable on deposits of less than three crore rupees.
Kotak Mahindra Bank's new FD interest rate -
Kotak Mahindra Bank has reduced the interest rate of 180 days FD from 7 percent to 6.50 percent. This change is effective from 5 May 2025.
The bank had also changed the FD rates of some periods on 30 April 2025. Now general citizens will get interest ranging from 2.75% to 7.15% on FDs less than Rs 3 crore. The interest rate for senior citizens is 3.25% to 7.65%.
Why are these changes important?
Changes in FD interest rates affect those seeking safe investments. Due to low interest rates, investors, especially senior citizens dependent on FDs, get low returns.
Banks revise the rates from time to time as per the requirements of the customers. If you are planning to invest in FD, it is important to compare the latest rates of different banks. Both banks offer attractive rates for senior citizens, so choose the best FD plan that suits your needs.