Several Indian banks raise fixed deposit rates, including special tenure schemes
What happened
Multiple Indian banks have raised interest rates on fixed deposits (FDs), according to reports from AajTak, Prabhat Khabar and Inshorts. Reports cover a 444-day special FD, a 555-day special scheme at Bank of Baroda, and Federal Bank's FD rates, which offer 7.50% to senior citizens.
When it started
AajTak's report on the 444-day FD is dated November 12, 2026. The exact dates of the other reports are not stated in the material provided.
How it spread
According to AajTak, the report includes a calculation of what a Rs 10 lakh deposit could earn under the 444-day scheme. The other reports describe the revised rates but the details of the calculations are not included in the material provided.
Why it matters
Banks adjust FD rates periodically, and changes in deposit rates affect how much interest depositors earn on their savings. The sources do not state the reasons behind these specific revisions.