Bank FD interest rates 2023 The interest on FD has been reduced by this bank. According to the official website of the bank, the new interest rates have come into effect from April 11.
The interest rate on FDs of all tenors has been reduced by 50 basis points or 0.50 per cent from the private sector Jammu and Kashmir Bank. The decision to reduce interest rates on FDs by Jammu and Kashmir Bank has been taken at a time when the repo rate has been retained at 6.5 per cent in the recently released monetary policy by RBI.
The maximum interest rate of 7.10 percent is being given by the bank on FDs of one year to less than two years. The new interest rates have come into effect from April 11.
New FD interest rates
- On FD from 7 days to 30 days – 3.00 percent
- 31 days to 45 days on FD – 3.50 percent
- On FDs from 46 days to 180 days – 4.50 percent
- On FDs of 180 days to 270 days – 5.50 percent
- On FDs from 271 days to less than one year – 6.00 percent
- On FDs from one year to less than two years – 7.10 percent
- On FDs from two years to less than three years – 6.75 percent
- 6.50 percent on FDs from three years to less than ten years
Additional interest for senior citizens
According to the information given on the official website of the bank, senior citizens above 60 years are being given an additional interest of 0.50 percent on FDs of all periods.
85 year old bank
Jammu and Kashmir Bank is one of the oldest private banks in the country. It was established 85 years ago in 1938. Most of the business of the bank is in the state of Jammu and Kashmir.
