This private bank hikes FD rates, senior citizens can earn 7.50% on 1-year tenor

The private sector lender South Indian Bank has hiked interest rates on fixed deposits of less than ₹2 Cr. According to the bank’s official website, the new rates take effect on December 20, 2022. Following the change, the bank is currently offering interest rates on deposits maturing in 7 days to 10 years that range from 2.65% to 6.00% for the general public and between 3.15% and 6.50% for senior citizens. At South Indian Bank, deposits with a one-year maturity period now earn a maximum regular interest rate of 7.00% and 7.50% for senior persons.