Interest Rate on FD: After the Reserve Bank of India increased the repo rate by 1.40 percent in 3 months, banks have also started increasing the interest rates on FDs. RBI has increased the repo rate to 5.40 percent. That’s why most of the banks have given benefit to the customers by increasing the interest rates. Many banks are also offering special FDs. Today we will tell you about the rates offered by 6 top banks of India.
State Bank of India– The bank has increased the interest on common FD by 0.15 percent. The bank is giving the highest interest of 5.65 percent to the common citizens while the senior citizens are getting the interest of 6.45 percent. Recently the bank had launched SBI Utsav Deposit in which the bank is giving an interest of 6.10 percent. At the same time, senior citizens will get an additional 0.50 percent interest.
Here is the list of banks Interest Rate on FD
Karnataka Bank– Under the KBL Amrit Samridhi Yojana, the bank is giving an interest of 6.10 percent on FDs of 75 to 525 days. This scheme is for 75 weeks. This is an FD with limited period offer.
Bank of Baroda– The bank had launched the Tiranga Deposit Scheme on the completion of 75 years of the country’s independence. Under this, the bank is giving 6 percent interest on FD of 555 days. An additional 0.50% interest is being offered to senior citizens.
HDFC Bank– The bank has increased the interest on FD by 0.40 percent. The bank is giving an interest of 6.10 percent on the Efi of less than Rs 2 crore. This interest is available on FDs of 3 years 1 day to 5 years. Senior citizens will get an additional 0.50 percent interest.
Kotak Mahindra Bank– This bank also increased interest recently. The bank is giving a maximum interest of 5.90 percent on FDs of less than 2 crores. The maturity of this FD is from 390 days to 3 years.
PNB- Bank has started 2 new tenures. Is giving 6.10 percent interest on 405 days FD. At the same time, customers will get 5.50 percent interest on FD of 406 days. Apart from this, the bank is giving the highest interest of 5.60 percent on common FD of less than Rs 2 crore. This interest is available on FDs of more than 2 years to 3 years.