Fixed Deposit Interest : The Reserve Bank of India (RBI) has recently increased the repo rate. After this, many banks have announced an increase in interest rates on fixed deposits.
Many big public and private banks have already increased the interest rates on FDs, so that customers will get more interest on their deposits. Let’s know which bank will earn you how much on fixed deposit-
Bank of Baroda special FD
Bank of Baroda recently announced a special fixed deposit scheme – Baroda Tiranga Deposit Scheme. It offers 5.75% p.a. interest for 444 days and 6.00% interest for deposits of 555 days. This scheme will be open till 31st December.
PNB FD Interest Rate
Punjab National Bank (PNB) is offering 6.10% interest on deposits for 405 days from 19th August. The public sector bank has also reduced the rate on deposits maturing in one year to 5.50%.
ICICI Bank FD Rate Change
ICICI Bank has also recently changed the fixed deposit rates for retail customers from one year to five years. The bank is offering interest ranging from 5.5% to 6.1% on a tenure of 1-5 years.
HDFC Bank FD Rate Hiked
HDFC Bank has also increased FD rates. The private sector bank is now offering the highest interest rate of 6.10% on deposits below Rs 2 crore for 3 to 5 years. Senior citizens will get an additional 0.6% interest on FDs of the same tenor.
Ujjivan Small Finance Bank FD Rate Hike
Ujjivan Small Finance Bank also increased the interest rates on fixed deposits with effect from August 9, 2022. It is now offering 7.5% interest on deposits in three tenors – 75 weeks, 75 months and 990 days.
