Since the increase in the repo rate by the Reserve Bank of India, many major banks of the country have increased the FD interest rates for their customers. Now the profit of Central Bank of India has also been included in this episode.
New Delhi. There is a heartwarming news for those investing in the bank’s FD deposit scheme. If you are currently taking advantage of the FD scheme, or have a plan to get FD, then you will get the benefit of more interest.
This bank increased the interest on FD
Let us inform that, since the increase in the repo rate by the Reserve Bank of India, many major banks of the country have increased the FD interest rates for their customers. Now the profit of Central Bank of India has also been included in this episode.
Central Bank of India is one of the oldest banks in the country. This bank has decided to increase the interest rates of its FD scheme. The Central Bank of India has announced that, now it will give more interest to customers on deposits of less than 2 crores. The new interest rates implemented by the bank will be applicable from July 10, 2022 i.e. from today itself.
How much interest will be received for how much period
Central Bank of India is giving the benefit of 2.75 percent interest rate to its customers on FDs of 7 to 14 days. Whereas on FD of 1 to 2 years, you will get the benefit of 5.25 percent interest rate. At the same time, 5.35 percent interest is being given to customers on FDs ranging from 3 to 5 years.
On FD of 5 years, customers will get the benefit of 5.60 percent interest. Whereas, on FDs with a tenure of more than 5 years to 10 years, customers will be given the benefit of 5.60 percent interest from the bank.
This bank also increased interest
Apart from the Central Bank of India, another government sector bank i.e. Punjab and Sind Bank has decided to increase the fixed deposit rates. This will have a direct impact on the customers of the bank and they will now get more returns on the FD scheme. The bank has fixed different interest rates on FDs of different tenures. The bank has decided to increase these new rates on FDs of less than Rs 2 crore. These new rates will be implemented from tomorrow i.e. July 11, 2022.
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