Synopsis Fixed deposit investors are seeing their interest rates grow with each RBI monetary policy. Here is a list of banks that have hiked fixed deposit interest rates in February. Getty Images Many banks have hiked fixed deposit (FD) interest rates soon after the Reserve Bank of India hiked the repo rates by 25 basis points to 6. 50% in its monetary policy meeting in February. Fixed deposit investors are seeing their interest rates grow with each RBI monetary policy. Here is a list of banks that have hiked fixed deposit interest rates in February. SBI FD interest rates The State Bank of India (SBI) has increased the interest rates on some fixed deposits (FDs) by up to 25 basis points (bps). The increase in FD interest rates ranges from 5 to 25 basis points, according to the SBI website. The new FD interest rates have been effective from February 15, 2023. The increased interest rates are applicable to fixed deposits of up to Rs 2 crore. PNB FD interest rates Punjab National Bank (PNB) has increased interest rates of select fixed deposits (FDs) tenures by up to 30 basis points (bps). The new interest rates will be applicable for fixed deposits of less than Rs 2 crore. The highest rate offered to regular citizens is 7. 25%. The increased interest rates on the FDs are effective from February 20, 2023, according to the PNB website. Axis Bank FD interest rates Axis Bank revised its fixed deposit interest on amounts below Rs 2 crore effective February 11, 2023. The bank offers the highest interest rate of 7. 26% to regular citizens and 8. 01% to senior citizens. Kotak Mahindra Bank FD interest rates Kotak Mahindra Bank raised interest rates on fixed deposits, making them more appealing to customers. With the increase, the bank now offers 7. 7 percent interest rates to senior citizens and 7. 2 percent interest rates to regular citizens. Federal Bank FD interest rates Federal Bank recently increased the interest rate on fixed deposits (FDs) under Rs 2 crore. The bank's highest interest rate offered is 7. 25 percent for the general public and 7. 75 percent for senior citizens. These new interest rates are effective from February 17, 2023. DCB Bank FD interest rates DCB Bank customers can now earn the highest interest rate of up to 7. 85% on fixed deposits for amounts below Rs 2 crore. For senior citizens, the interest rate on fixed deposits can go up to 8. 10%. The new rates are effective from February 16, 2023. IndusInd Bank FD interest rates IndusInd Bank has increased the interest rate on fixed deposits with balances of less than Rs 2 crore. With the hike, regular depositors can now earn up to 7. 5% in interest, while senior citizens can earn up to 8. 25%. The higher rates have been effective from February 16, 2023, according to the bank's website. Bank of Maharashtra FD interest rates Customers of the Bank of Maharashtra can now earn interest rates of up to 6. 25% on fixed deposits under Rs 2 crore effective from February 14, 2023. In addition, the bank has issued two special tenors with 200-day and 400-day maturities, with assured returns of 7% and 6. 75%, respectively. Don’t miss out on ET Prime stories! Get your daily dose of business updates on WhatsApp. click here! Monday, 20 Feb, 2023 Experience Your Economic Times Newspaper, The Digital Way! Read Complete Print Edition » Front Page Pure Politics Companies Brands & Companies More Infra Push Depoliticised: PM Prime Minister Narendra Modi asserted in his address at the ET Global Business Summit on Friday that his government has depoliticised infrastructure development in the country, contrary to the past when such projects were seen only through the prism of political dividends. FPIs Shy of Naming Senior Officers of Parent Entities Several foreign portfolio investors (FPIs) are reluctant to name key persons in their ultimate parent organisations as ‘senior management officials’ (SMOs) to the Securities and Exchange Board of India (Sebi). Read More News on fixed deposit interest rates fixed deposit rate FD rates sbi pnb kotak mahindra bank punjab national bank bank of maharashtra state bank of india kotak mahindra bank (Your legal guide on estate planning, inheritance, will and more. ) Download The Economic Times News App to get Daily Market Updates & Live Business News. . . . more less ETPrime stories of the day Real Estate Interest rates are rising, so are rental yields. Is it the right time to invest in property? 8 mins read 3 insights to kick-start your day, featuring Swiggy’s “poor judgement” 3 mins read Strategy Stock Radar: Technical charts suggest HDFC Bank is likely to hit fresh record highs in next 3-6 months; time to buy? 3 mins read Subscribe to ETPrime.