The monetary policy meeting of the RBI is scheduled to conclude on April 6. After which the change in the repo rate will be announced. But before this many banks have increased the interest rates of Fixed Deposit (FD).
Bank FD Rates : The Reserve Bank of India’s monetary policy meeting (RBI MPC Meeting) will end tomorrow. Only after that a change in the repo rate can be announced. Explain that the EMI of the loan increases when the repo rates increase.
At the same time, the interest of fixed deposits increases. But before this, two banks have increased the interest rates of FDs (Fixed Deposit Interest Hike). City Union Bank and Canara Bank are included in this list. Let’s take a look at their interest rates.
City Union Bank FD
Private city lender City Union Bank has increased the interest on FD. There has been an increase in the interest rates available on FDs of less than Rs 2 crore. General customers will get 7 percent interest on the 400 day scheme.
At the same time, senior citizens will get the benefit of 7.50 percent interest. The interest on FDs ranging from 7 days to 10 years has been increased by 5 -6.25 per cent. 6.50% interest will be given on FD of 271-364 days and 6.75% on Fixed Deposit of 365-443 days.
Canara Bank FD
This public sector bank has increased the interest rates on FDs. For general customers, interest will be available from 4% to 7.25% on FDs ranging from 7 days to 10 years. On the other hand, senior citizens will get the benefit of 4% to 7.75% interest.
The new rates have been announced by the bank on 5th April i.e. today. The highest interest will be available on FD of 444 days. On this scheme, general customers will get the benefit of 7.25 percent and senior citizens will get 7.75 percent interest.
