ICICI Bank is offering an interest rate of 6.55% to senior citizens when compared to 5.75% it offers to general public. HDFC Bank is giving additional 0.75% to senior citizens and offering FDs at 6.5%

Catch top stories from the world of business and economy with BusinessToday.In's Biz EOD report

The new rates on retail term deposits are applicable from May 27, according to data available on the bank's website

Brokerage firm Kotak Institutional Equities expects HDFC to report a 21.30% dip in its profit on a 7.30% rise in net interest income (NII)

Indian Railways started running \"Shramik Special\" trains from May 1 to move migrant workers, pilgrims, tourists, students and other persons stranded at different places due to lockdown

Delhi weather update: A heatwave is when the maximum temperature reaches 40 degrees or more in plains and 30 degrees or more in hilly regions

The SBI was the first bank to announce a special FD scheme for senior citizens called SBI 'WECARE'. Similarly, HDFC Bank as well as ICICI Bank Bank have also come up with --HDFC Senior Citizen Care FD, and ICICI Bank Golden Years, respectively

If you are a risk averse investor looking to park your surplus cash in FDs, but disappointed with low interest rates that public sector banks are offering, you must know there are ways to earn decent returns

The customers will now get 5.25 per cent interest on deposits up to one year, while those above one year will earn 5.7 per cent to 5.75 per cent

SBI FD interest rates for senior citizens have been slashed by 20 bps as well. For tenor 7 days to 45 days, State Bank of India has changed the rates from 4 per cent to 3.80 per cent, while it has been changed to 4.80 per cent from 5 per cent for 46 days to 179 days tenor

Following the reduction in rates, the one year MCLR will now come down to 7.25 per cent per annum from 7.40 per cent, with effect from May 10, 2020

Following the reduction in rates, SBI savings accounts with balances up to Rs 1 lakh will earn interest rate of 2.75 per cent per annum, down from 3 per cent

Canara Bank has reduced its marginal cost of funds based lending rates (MCLR) on loans and advances across all tenors by up to 35 basis points across tenors, effective April 7

For the 1 year to less than 2 years, 2 years to less than 3 years, 3 years to less than 5 years and 5 years to up to 10 years tenors, the rates have been slashed by 10 bps

As per RBI data, gross NPAs of PSBs rose from Rs 2,79,016 crore as on March 31, 2015, to Rs 6,84,732 crore as on March 31, 2017 and Rs 8,95,601 crore as on March 31, 2018

SBI revised FD rates: State Bank of India (SBI) has slashed the interest rates on fixed deposits across tenors. For the retail segment or deposits less than Rs. 2 crore, the interest rates have been slashed by 10 to 50 basis points whereas for the bulk segment, the rates have been reduced by 25 to 50 basis points.

New SBI FD rates: SBI has slashed the FD rates across all tenors except for those with maturity period of 7-45 days

According to the latest revision, ICICI Bank tax-saver FD (max up to Rs 1.50 lakh) will now fetch 6.60% interest to general citizens and 7.10% interest to senior citizens

SBI cuts MCLR: After the cut, MCLR for three-year period has come down to 8.20 per cent from 8.25 per cent.

RBI repo rate cut: The repo rate cut is a great incentive for borrowers as all new floating rate loans are supposed to be linked to any of the four external benchmarks prescribed by the RBI from October 1.