Banks have also increased their interest rates due to the increase in the repo rate by the RBI. Many banks recently increased their interest rates due to which the returns on FDs have gone up to 7 per cent or more.
New Delhi. The effect of increasing the repo rate for the fourth time in a row by the RBI has also affected the interest rate offered by banks on FDs. In one way, it has become expensive to take all other types of loans including car and house from banks, on the other hand the interest rates on FD have increased. Investors are getting its benefits directly. While the repo rate has increased to 5.90 percent, the interest rate of banks has also crossed 7 percent.
However, the interest rate of all banks has not changed that much. Today we will tell you about such banks whose interest rates on FD have exceeded 7 percent. These include a government bank while other banks are in the private sector.
Canara Bank
This public sector bank had recently increased its interest rates. The bank is offering an interest rate of up to 7.5 per cent to its senior citizens on FDs below Rs 2 crore. This interest is being given on FD of 666 days. Common citizens are getting interest at the rate of 7 percent on this FD.
Bandhan Bank
Bank is giving 7 percent interest to common citizens and 7.50 percent to senior citizens on FDs of more than 18 months to less than 2 years. Apart from this, the bank is also giving 7 and 7.50 percent interest on FDs of less than 2 years and up to 3 years. The same interest rate is being offered by the bank on FDs ranging from 3 years to less than 5 years. The new interest rates are applicable from 22nd August onwards.
RBL
This bank is giving 7 percent interest to common citizens and 7.50 percent to senior citizens on 15-month FD. The same interest rate bank is offering on FDs ranging from 15 months 1 day to less than 725 days. Apart from this, the bank is giving 7.25 percent interest to common citizens and 7.75 percent to senior citizens on FDs maturing in 725 days. The bank is giving an interest of 7 and 7.50 percent on FDs of less than 24 days from 726 days.
IDFC Bank
This bank is giving 7.25 percent interest to common citizens and 7.75 percent to senior citizens on FD of 750 days. The new interest rates have come into effect from October 10.
Small Finance Banks
Fincare is getting 7.5 percent interest on 1000 days FD and 7.5 percent on 525 and 990 days FD in Ujjivan. Apart from this, Suryoday Small Finance Bank is giving 7.49 percent interest on maturity of 999 days and Jan Small Finance Bank is giving 7.35 percent interest on FDs of more than 3 years and less than 5 years. Equitas Small Finance Bank is offering 7.32 percent interest on 88 days FD.
