Fixed Deposit: SBI lowers interest rates on FDs; HDFC Bank and Axis Bank also make changes..

Fixed Deposits (FDs) are considered a safe investment option. Banks have recently revised their FD interest rates. HDFC Bank, Axis Bank, and Federal Bank have either raised or adjusted interest rates for FDs across various tenures. Senior citizens stand to benefit the most, as they can earn up to 7.25% annual interest on FDs of certain tenures.

On the other hand, SBI has reduced interest rates on bulk FDs (deposits of ₹3 crore and above). This implies that while the situation may improve for those opening smaller or standard FDs, investors depositing large sums might receive lower interest.

**HDFC Bank Raises Interest Rates**