Many banks have changed the interest rates of fixed deposits in April. If you are thinking of investing money in FD this month, then know which bank is giving how much return?
Bank FD Rates : It has been decided to keep the repo rate stable in the MPC meeting of the Reserve Bank of India. Despite no change in repo rates, many banks have revised the interest rates on fixed deposits this month. Let us tell you that when the repo rate increases, the loan becomes expensive, but banks increase the interest on FD. In April, five banks including Bank of India have changed the interest rates of FD.
Bank of India (BOI)
Bank of India has changed the interest rates of FD less than Rs 2 crore. The bank is offering 3% to 7.25% interest on deposits of 7 days to 10 years. The new rates have become effective from April 1.
IDBI Bank
This bank has also changed the interest rates for deposits of less than Rs 2. It is offering 3% to 7.5% interest on tenure of 7 days to 10 years. The bank has reduced the interest rates on Utsav Collable FD.
Federal Bank
This bank has changed the interest rates of resident and non-resident FD. It is offering 3% to 7.40% interest on FD of 7 days to 10 years. The new rates have come into effect from April 18.
Suryoday Small Finance Bank
This small finance bank had changed the interest rates on FD even before the RBI MPC meeting. The bank is offering 4% to 9.01% interest to common citizens on FD of 7 days to 10 years. Rates for senior citizens range from 4.5% to 9.25%.
Fincare Small Finance Bank
This bank is giving maximum interest of 7.25% to general citizens, 8% to senior citizens and 8.50% to super senior citizens. The new rates are effective from April 17.
