Three banks have increased the interest rates on fixed deposits. All banks are offering more than 7% interest to common citizens.
Bank FD: Fixed Deposit is considered a better option for investment. Investors get fixed interest on it for a fixed term. Besides, it is also considered a safe option of investment. Apart from this, there is no hassle of depositing money again and again. Banks keep revising interest rates frequently. This week three banks have increased the interest rates on FD. Yes Bank, RBL Bank and ICICI Bank are included in this list. Let us know how much interest these banks are currently offering on FD.
Yes Bank
Yes Bank is offering 3.25% to 7.75% interest to common citizens on FD of 7 days to 10 years. Whereas the interest rates for senior citizens range from 3.75% to 8.25%. The bank is offering the highest interest on FDs of 18 months to less than 24 months, the rates are 7.75%. 7.25% interest is available on one year FD. The bank is offering 7.25% interest on 60 months deposit.
RBL Bank
RBL Bank has increased FD interest rates by 50 bps. It is offering 3.50% to 8% interest on FD of 7 days to 10 years. The highest interest rate is available on deposits of 546 days to 24 months. Whereas senior citizens are getting 0.5% more returns.
ICICI Bank
ICICI Bank has also changed the interest rates of fixed deposits. The bank is offering 4.75% to 7.25% interest to common citizens on FDs of less than Rs 2 crore. More than 7% returns are available on deposits of more than 1 year.
