Fixed Deposit Interest Rate: Many banks have recently increased the fixed deposit rates. In this episode, Unity Small Finance Bank (USFB) has also changed the interest rates of its fixed deposits on Monday (August 22).
The bank is presently offering up to 8.15% interest on deposits with tenures of 2-3 years and 3-5 years to senior citizens. At the same time, customers below 60 years of age are getting maximum 7.65% return on FDs of 2-3 years and 3-5 years.
Unity Small Finance Bank (USFB) has revised the interest rates on its non-callable bulk deposits with effect from 20 August 2022. This bank is offering interest up to 7.1% on term deposits above Rs 2 crore with tenures of 2-3 years and 3-5 years.
Under non-callable deposits, premature withdrawal is not allowed. The USFB said in a statement that the interest on these deposits will be calculated on a quarterly compounded basis for deposits with tenor of 6 months and above. The bank further said that non-callable deposits are not for senior citizens.
IDBI Bank also increased interest rates
The bank has increased the interest rates for term deposits with different tenures for its customers. The bank is now offering 6.55% interest rate on select tenors. The new rates have come into effect from today i.e. 22nd August. Not only this, the bank has also introduced a special 500 days deposit offer for its customers under the Amrit Mahotsav FD scheme. Under this offer, customers will get 6.70 percent return on deposits. However, this offer is for a limited time only and you can take advantage of it till 30 September 2022.
ICICI Bank changes FD rate
Last week, ICICI Bank changed the fixed deposit rates for select tenors. The bank has fixed rates between 5.50% and 6.10% on retail FDs ranging from one year to five years, with an interest rate of 5.50% on one-year deposits. The bank has offered 6.05% interest rate on FDs maturing in one year.
