FD Interest Rate Hike: There is good news for those who keep their hard earned money in bank FDs. Actually, there is a chance to earn more interest with IDFC First Bank. This private sector bank has increased the interest rates of fixed deposits.
After the increase in the repo rate by the Reserve Bank of India (RBI), banks have also started increasing the interest rates. Apart from increasing the interest rate on loans, interest rates on bank deposits have also started increasing. Meanwhile, IDFC First Bank of the private sector of the private sector has increased the rates of interest on fixed deposits i.e. FDs.
New rates effective from August 16, 2022
IDFC First Bank has increased the interest rates for FDs below Rs 2 crore. The new rates have become effective from August 16, 2022. The bank is offering interest rates ranging from 3.50 percent to 6.00 percent to its general customers on FDs of less than 20 million. Along with this, the bank offers 0.50 percent higher interest rate to senior citizens.
IDFC First Bank interest rates
7 to 14 days – 3.50 per cent
15 to 29 days – 3.50 per cent
30 to 45 days – 4.00 per cent
46 to 90 days – 4.00 per cent
91 to 180 days – 4.50 per cent
181 days to 1 year – 5.75 per cent
1 Year 1 day to 499 days – 6.25 per cent
500 days to 2 years – 6.50 per cent
2 years 1 day-749 days – 6.50 per cent
750 days – 6.90 per cent
751 days – 3 years – 6.50 per cent
3 years 1 day-5 years – 6.50
Percentage 5 Years 1 Day-10 Years – 6.00 percent
