Banks have cut interest rates on certain FD tenures, while hiking it on others. Banks like HDFC Bank and Yes Bank have reduced interest rates in October.
Under the special edition fixed deposit, the bank offers 7.20 percent interest on fixed deposits maturing in 35 months and 7.25 percent interest on deposits maturing in 55 months.
Banks including SBI, IDBI Bank, Indian Bank have special fixed deposit with deadlines. Banks such as Bank of India, Canara bank and HDFC Bank has introduced new tenures with higher interest rates.