Earn Up to 7.9% on FDs: Five Banks Update Fixed Deposit Interest Rates in August 2024

Several banks updated their fixed deposit (FD) interest rates in August. The following banks adjusted their FD rates on August 1 and 2, 2024:

- Karnataka Bank: As of August 2, 2024, the FD rates for individuals under 60 years are up to 7.25%. Senior citizens receive an additional 0.5% interest.

- Punjab National Bank (PNB): For individuals under 60, PNB's FD rates range from 3.5% to 7.25%. Senior citizens get rates starting at 4% and going up to 7.75%, while super senior citizens receive rates from 4.3% to 8.05%. These rates are effective from August 1, 2024.

- Federal Bank: Effective August 2, 2024, FD rates for individuals below 60 years range from 3% to 7.4%. Senior citizens receive rates from 3.5% to 7.9%.

- Union Bank of India: The FD rates for individuals under 60 years are up to 7.4%, with rates effective from August 2, 2024.