There is good news for the investors of Fixed Deposit ie FD. Recently, two banks have increased the interest rates on FDs.
There is good news for the investors of Fixed Deposit ie FD. Recently, two banks have increased the interest rates on FDs. Public sector bank Indian Bank has increased interest rates on fixed deposits of less than two crore rupees. According to the official website of the bank, the new interest rates on fixed deposits have come into effect from March 4. Post the change, the bank has increased its interest rate by 20 basis points on select tenors. Now the retail customers of the bank can earn up to 6.70 per cent interest on their deposits.
Indian Bank FD Rates
The bank will pay interest at the rate of 2.80 per cent on fixed deposits maturing in the bank in 7 to 29 days. At the same time, 3.00 percent interest rate will be available on FD with maturity of 30 days to 45 days in the bank. At the same time, the interest rate of 3.25 percent will be on the deposit period of 46 days to 90 days in Indian Bank. Whereas, the bank is paying interest at the rate of 3.50 percent on the tenure of 91 days to 120 days.
FDs maturing in 121 days to 180 days will have an interest rate of 3.85 percent. At the same time, interest will now be given at the rate of 4.50 percent on fixed deposits of 181 days to less than 9 months. The bank is offering an interest rate of 4.75 per cent on FDs of 9 months to less than one year. At the same time, interest will be given at the rate of 6.10 percent on deposits maturing in one year.
Up to 8% interest will be available here
On the other hand, AU Small Finance Bank has also increased the interest rates on fixed deposits of less than Rs 2 crore. After this change, the bank is currently paying interest at the rate of 3.75 per cent to 7.20 per cent to general public and 4.25 per cent to 7.70 per cent to senior citizens on FDs of 7 days to 120 months. At the same time, a maximum interest rate of 8 percent will be available on fixed deposits maturing in 24 months 1 day to 36 months. According to the official website of the bank, these rates will be applicable from March 3, 2023.
At the same time, the bank will have 3.75 percent interest rate on fixed deposits maturing in 7 days to 1 month 15 days. At the same time, interest will be available at the rate of 4.25 percent in Small Finance Bank on FDs with tenure of 1 month, 16 days to three months. This small finance bank is now offering an interest rate of 5.00% on deposits ranging from 3 months 1 day to 6 months. At the same time, there will be an interest rate of 6.35 percent on fixed deposits of 6 months, 1 day to 12 months.
