Recently, the Reserve Bank increased the repo rate. This increase made retail loans like home loans costlier, but FD rates went up. Almost all private and government banks are increasing FD interest rates. Finance companies and small finance banks are also involved in this.
Repo rate by Reserve Bank (Repo Rate) Earnings on Fixed Deposits have been increased after being increased. Fixed deposit interest rates due to increase in repo rate (FD Rates) are increasing. Retail loans like home loans may have become expensive, but the FD rate is increasing. Banks and Finance Companies (NBFCSmall finance banks are giving higher returns than ever before on FD account. This list includes both private and government banks which are paying more interest on FDs to their customers. Interest rates have been increased on FDs of less than 2 crores. Here we will see the rates of different banks and know where the interest is being received. From this it will be known that the FD of a bank is going to give more benefits to the customer.
First of all talk about private sector number one bank HDFC Bank. This bank has recently increased FD rates. We will know here the interest rate on FDs below 2 crores.
HDFC Bank interest rate
On the lowest 15 days to 29 days FD, general public is getting 2.5 percent and senior citizens are getting 3% interest. On 1 year FD, the general depositor is getting 5.10 percent and senior citizens are getting 5.60 percent interest. 5.10 and 5.60 percent interest is also available on FD of 1 year 1 day to 2 years. On FD of 2 years 1 day to 3 years, 5.40 percent interest is getting on normal account and 5.90 percent for senior citizens. 5.60 and 6.10 percent interest is being given to senior citizens on FDs of 3 years 1 day to 5 years. 5.75 and Senior Citizen is getting 6.50 percent interest on FD of 5 years 1 day to 10 years.
FD rate of IDFC First Bank
On the lowest 7 days FD, 3.50 percent interest is being given to the general account holder and 4 percent to the senior citizen. General public is getting 6% interest and senior citizens are getting 6.50 percent interest on FDs of 1 year to 2 years. On FDs of 2 years 1 day to 3 years, 6% for general depositor and 6.50 per cent for senior citizens, 6.25 for FDs of 3 years 1 day to 5 years on general account and 6.75 percent for senior citizens, 5 years 1 day to 10 years On the FD, 6% interest is being given to the general public and 6.50 percent to the senior citizens.
ICICI Bank interest rates
On FDs of 7 days to 14 days, 3% interest is being given to the general public and 3% to senior citizens. On FDs of 1 year to 389 days, 4.95 percent on general account and 4.95 percent for senior citizens, 4.95 percent for general account holders and senior citizens on FDs of 390 days to less than 15 months, General on FDs from 15 months to less than 18 months 5% for public and senior citizens, FDs of 18 months to 2 years for general depositors and 5% for senior citizens, FDs of 2 years 1 day to 3 years, FDs of 3 years 1 day to 5 years and 5 years from 1 day On FDs up to 10 years, the general public and senior citizens are being given equal interest of 5.25 percent.
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