Highest FD interest rate: After the Reserve Bank of India kept the repo rates unchanged, many banks have also not altered their loan rates and fixed deposit interest rates.
However, here are a few banks that have hiked, revised fixed deposit interest rates in the month of May 2023.
DCB Bank FD rates
| Tenure | Deposit Interest Rate | Rate for Senior Citizens (% per annum) |
| 7 days to 14 days | 3.75% | 4.25% |
| 15 days to 45 days | 3.75% | 4.25% |
| 46 days to 90 days | 4.00% | 4.50% |
| 91 days to less than 6 months | 4.75% | 5.25% |
| 6 months to less than 12 months | 6.25% | 6.75% |
| 12 months | 7.25% | 7.75% |
| More than 12 months to less than 15 months | 7.25% | 7.75% |
| 15 months to less than 18 months | 7.50% | 8.00% |
| 18 months to less than 700 days | 7.75% | 8.25% |
| 700 days to 24 months | 8.00% | 8.50% |
| More than 24 months to less than 36 months | 8.00% | 8.50% |
| 36 months | 8.00% | 8.50% |
| More than 36 months to 60 months | 7.75% | 8.25% |
| More than 60 months to 120 months | 7.75% | 8.25% |
DCB Bank has revised fixed deposit interest rates for deposits below Rs 2 crore. The new rates are effective from May 8, 2023, according to the DCB Bank website.
Following the modification, the bank is now providing FDs with the highest interest rate, 8%, for regular customers and 8.50% for senior citizens.
Kotak Mahindra Bank FD rates
| Regular | Senior Citizen* | |
| Maturity Periods | Less than Rs.2 Crore# | Less than Rs.2 Crore# |
| 7 – 14 Days | 2.75% | 3.25% |
| 15 – 30 Days | 3.00% | 3.50% |
| 31 – 45 Days | 3.25% | 3.75% |
| 46 – 90 Days | 3.50% | 4.00% |
| 91 – 120 Days | 4.00% | 4.50% |
| 121 – 179 days | 4.25% | 4.75% |
| 180 Days | 7.00% | 7.50% |
| 181 Days to 269 Days | 6.00% | 6.50% |
| 270 Days | 6.00% | 6.50% |
| 271 Days to 363 Days | 6.00% | 6.50% |
| 364 Days | 6.50% | 7.00% |
| 365 Days to 389 Days | 7.10% | 7.60% |
| 390 Days (12 months 25 days) | 7.20% | 7.70% |
| 391 Days – Less than 23 Months | 7.20% | 7.70% |
| 23 Months | 7.20% | 7.70% |
| 23 months 1 Day- less than 2 years | 7.20% | 7.70% |
| 2 years- less than 3 years | 7.00% | 7.50% |
| 3 years and above but less than 4 years | 6.50% | 7.00% |
| 4 years and above but less than 5 years | 6.25% | 6.75% |
| 5 years and above upto and inclusive of 10 years | 6.20% | 6.70% |
Kotak Mahindra Bank has raised the interest rate on fixed deposits by 50 basis points (bps) on a single tenure. The revised interest rate will be applicable for deposits below Rs 2 crore from May 11, 2023.
Kotak Mahindra Bank provides interest rates ranging from 2.75% to 7.20% to general residents and from 3.25% to 7.70% to senior citizens. For regular residents, the bank hiked interest rates by 50 basis points on 180-day terms from 6.50% to 7% and by 10 basis points on 365-day terms from 7% to 7.10%.
Unity Small Finance Bank FD interest rates
| Period | Interest Rate | Senior Citizen Rate # |
| (Per Annum) | (Per Annum) | |
| 7 days to 14 days | 4.00% | 4.50% |
| 15 days to 45 days | 4.25% | 4.75% |
| 46 days to 90 days | 4.50% | 5.00% |
| 91 days to 6 months | 5.00% | 5.50% |
| Above 6 months to 9 months | 5.50% | 6.00% |
| Above 9 months to less than 1 Year | 6.00% | 6.50% |
| 1 Year | 6.85% | 7.35% |
| Above 1 Year to 2 Year New | 8.50% | 9.00% |
| Above 2 years to 998 days | 7.51% | 8.01% |
| 999 DaysNew | 9.00% | 9.50% |
| 32 Months 27 Days to 3 Years | 7.25% | 7.75% |
| Above 3 Years to less than 5 Years | 6.75% | 7.25% |
| 5 YearsNew | 9.10% | 9.60% |
| Above 5 years to 10 years | 7.25% | 7.75% |
Unity Small Finance Bank has revised the interest rates on fixed deposits with effect from May 2, 2023. Now, it offers senior citizens a maximum interest rate of 9.50% per year on fixed deposits held for 1001 days, while regular citizens earn 9.00% per year for the same time frame, according to the bank website.
