FD Rates: To control the rising inflation in India, RBI is continuously increasing the interest rates. Since May till now, the repo rate has increased from 4.00 percent to 5.90 percent.
FD Rates Increased: ICICI Bank, the country’s largest private sector bank, has increased the interest rates on its bulk FD ie deposits of more than 2 crores. After this increase, now another private bank has taken this decision. The name of this bank is Axis Bank.
Recently this bank has decided to increase the interest rate on its deposits of more than 2 crores. These new rates have come into effect from 29 November 2022. The bank had offered interest rates ranging from 3.75 per cent to 7.20 per cent on FDs ranging from Rs 24.75 crore to Rs 25 crore to its ordinary citizens.
On the other hand, talking about senior citizens, it is offering interest rates ranging from 3.75 percent to 7.95 percent. In such a situation, this bank is offering more returns than the rate of inflation to the customers. In the month of October, the inflation rate in the country has been 6.77 percent. On the other hand, if you want to get an FD of Rs 5 to 10 crore in the bank, then we are giving you information about the latest interest rate offered by the bank-
Axis Bank interest on FD of Rs 5 to 10 crores-
- 7 to 14 days FD – 4.65%
- 15 days to 45 days FD – 5.00%
- FD from 46 days to 6 months – 6.00 percent
- FD from 6 months to 9 months – 6.35 percent
- FD from 9 months to 1 year – 6.40 percent
- 1 year to 1 year 5 days FD – 7.15%
- FD of 1 year 5 days to 3 years – 6.80%
- FD from 3 years to 10 years – 6.30 percent
ICICI Bank increased the interest rate on FDs of 2 to 5 crores-
ICICI Bank is offering interest rates ranging from 3.75 percent to 6.50 percent to its ordinary citizens. At the same time, the bank is offering interest rates ranging from 3.75 percent to 6.50 percent to senior citizens. These new rates have come into effect from 23 November 2022. Let us know about the interest rate available on different periods-
- 7 to 29 days FD – 3.75%
- 30 to 45 days FD – 4.75 percent
- FD of 46 to 60 days – 5.00 percent
- 61 to 90 days FD – 5.25 percent
- FD of 91 to 184 days – 5.75%
- FD of 185 days to 270 days – 6.00%
- FD from 271 days to 1 year – 6.25 percent
- FD from 1 year to 15 months – 6.75 percent
- FD from 18 months to 3 years – 6.80 percent
- 3 to 5 days FD – 6.80%
- FD from 5 to 10 years – 6.50 percent
RBI increased the interest rate many times
To control the rising inflation in India, RBI is continuously increasing the interest rates. Since May till now, the repo rate has increased from 4.00 percent to 5.90 percent. The last time the Reserve Bank increased the interest rate was on 30 September. In such a situation, due to this increase, many banks are increasing the interest rate in both their bulk and retail FDs. Now many banks like Federal Bank, State Bank of India, Punjab National Bank, ICICI Bank, Axis Bank, Indian Overseas Bank Has increased its fixed deposit rates.
