Many banks including Punjab National Bank and Union Bank of India have changed the interest rates on FD this month.
If you are interested in Fixed Deposit (FD) and are thinking of investing, then this news is useful for you. Many banks including Punjab National Bank and Union Bank of India have changed the interest rates on FD this month. Banks have increased the interest rates on fixed deposits. That means you will get more returns than before. You get a fixed return in FD. Especially for traditional investors, FD is a better means of investment. Let us know what changes have been made in FD rates by some banks?
Karnataka Bank
Private sector Karnataka Bank offers interest rates between 3.5 percent to 7.25 percent for general citizens on amounts less than Rs 2 crore. The new rates are effective from January 20.
Union Bank of India
Public sector Union Bank of India offers interest rates between 3.5 per cent and 7.25 per cent on amounts less than Rs 2 crore for general citizens. The new rates are effective from January 19. The additional rate factor applicable to Resident Senior Citizen Deposits is 0.50 per cent more than the normal rates shown above. The additional rate component applicable to resident super senior citizens is 0.75 per cent more than the normal rates shown above. The bank stated on its website that the normal rate displayed above (0.25 per cent more than the rate applicable to resident senior citizens).
Federal Bank
Federal Bank offers fixed deposit interest rates ranging from 3 percent to 7.75 percent for general citizens for tenures ranging from 7 days to 5 years and above. For senior citizens, the bank offers interest rates between 3.50% to 8.25%. Rates are effective from January 17.
IDBI Bank
IDBI Bank offers interest rates between 3 percent to 7 percent for general citizens and 3.50 percent to 7.50 percent for senior citizens on tenures ranging from 7 days to 10 years. Rates are effective from January 17.
Bank of Baroda
Bank of Baroda is offering interest rates ranging from 4.25 percent to 7.25 percent from January 15.
Punjab National Bank
PNB has increased fixed deposit (FD) interest rates on amounts less than Rs 2 crore twice this month. After the amendment, PNB offers a discount of 3.5 per cent to 7.25 per cent to common citizens on deposits maturing in 7 days to 10 years. According to Livemint news, the bank offers interest rates ranging from 4 percent to 7.75 percent on FDs maturing in seven days to ten years, and 4.3 percent to 8.05 percent interest rates to super seniors. These rates are effective from January 8.
Kotak Mahindra Bank
Kotak Bank offers interest rates ranging from 2.75 percent to 7.25 percent for general citizens and 3.25 percent to 7.80 percent for senior citizens from January 4.
