Nainital Bank FD Rates: This 100-year-old private sector bank has increased the interest rates of fixed deposits. The new interest rates have come into effect from 03 September 2022.
Nainital Bank FD Rates: Private sector lender Nainital Bank has increased interest rates on fixed deposits of less than 2 crores. According to the official website of the bank, the new interest rates are effective from 03 September 2022. After the amendment, the bank has increased the interest rates on fixed deposits maturing in 1 year and above but less than or equal to 18 months. In this a new tenure named Naini Utkrisht Fixed Deposit Scheme – 605 days has been added.
Nainital Bank FD Rates
On fixed deposits maturing in 7 days to 45 days, the bank will continue to offer an interest rate of 3.25% and on fixed deposits maturing in 46 days to 179 days, the bank will continue to offer an interest rate of 4.25%. Fixed deposits maturing in 180 days and above but less than 270 days will continue to earn an interest rate of 4.95% and fixed deposits maturing in 270 days and above will continue to earn an interest rate of 5.05%.
On fixed deposits maturing in 1 year and above but less than or equal to 18 months, Nainital Bank has increased the interest rate from 5.55% to 5.75% and the bank has introduced new tenure of 605 days called Naini Uttrak Fixed Deposit Scheme is added. On which customers will get the highest interest rate of 6.05% on their deposits. Fixed deposits maturing in 18 months to 5 years will continue to offer 5.60% interest rate, and fixed deposits maturing in 5 years but less than or equal to 10 years will continue to offer 5.35% interest rate. The bank will continue to pay interest at the rate of 5.75 percent on the Naini Tax Saver Scheme for 5 years.
Nainital Bank while launching the Naini Utkrisht Fixed Deposit Scheme said that the new scheme of 605 days Naini Utkrisht Fixed Deposit has been introduced with effect from 03.09.2022. This plan is valid for 60 days only and all the terms and conditions will remain same. Fixed deposits under this slab are non-renewable and the deposit amount will be credited to the customer’s account on maturity.
For the benefit of senior citizens, Nainital Bank has mentioned on its website that branches may continue to offer an additional interest of 0.50% on domestic fixed deposits. 2.00 crores to senior citizens for all periods as per extant guidelines, except Naini Tax Saver Scheme.
The Nainital Bank mentioned on its website, “We reiterate that in case of premature payment of Fixed Deposit, the interest rate shall be 1% less than the applicable interest rate for the period the deposit is with the Bank as per extant guidelines.”
