The RBI MPC meeting will conclude on October 6. Even before this, many banks including Yes Bank have changed the interest rates on FD.
Bank FD: The monetary policy review of the Reserve Bank of India has started from October 4. The decision of the MPC meeting is going to be taken on October 6. During this time, decision on repo rate will also be taken. Let us tell you that revision in repo rates has a direct impact on loans and FDs. Even before this, many banks have changed the interest rates of fixed deposits.
Yes Bank FD
Yes Bank has changed the interest rates for fixed deposits of less than Rs 2 crore. The new rates have been implemented from October 4. Interest on deposits of 7 days to 12 months ranges from 3.25% to 7%. Highest interest is available on FD of 18 months to 24 months. Rates are 7.50%.
IndusInd Bank
This bank has also changed the interest rates on FD. The new rates are effective from October 1. On fixed deposits of 7 days to 10 years, interest ranges from 3.50 percent to 7.85 percent.
HDFC bank
The country’s largest private sector bank has cut FD interest rates. The new rates have become effective from October 1. The bank is offering interest ranging from 3% to 7.15% on tenure of 35 months to 55 months.
Bank of India
BOI is also included in this list. Changes have been made in FDs of less than Rs 2 crore. Currently customers are getting 3% to 7.25% interest on FD.
Punjab and Sindh Bank
This government bank has also changed the interest rates on FD. The new rates have already been implemented from October 1. Rates on deposits above Rs 2 crore range from 2.80% to 7.40%.
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