If you also like to invest in FD for the future, then let us tell you that the public sector banker, Indian Bank has increased its interest rates on fixed deposits for some period from October 4. .
New Delhi. The process of increasing interest rates on Fixed Deposit (FD) by the bank continues. One after the other many government and private banks are increasing the interest rates. If you also like to invest in FD for the future, then let us tell you that the public sector banker, Indian Bank has increased its interest rates on fixed deposits for some period from October 4. .
FD rates have been increased by 5 basis points and 50 basis points. The bank has a special FD scheme for 610 days where senior citizens will get 6.25 percent interest and super senior citizens will get 6.5 percent annually. The hike in FD rates is in line with RBI’s 50 basis points increase in the repo rate to 5.9%. Interest rates have been revised for fixed deposits of less than Rs 2 crore. However, the increase is only on certain longer tenures.
Check here new rates :-
- 121 days to 180 days – 10 basis points raised from 3.75% to 3.85%
- Tenure less than 9 months – 35 basis points raised from 4.40% to 4.75%
- FD rates raised by 5 basis points from 5.45% in 1 year to 2 years 5.5%
for tenures less than 3 years – 5.6% for periods - Ranging from 181 days to less than 9 months – 4% increased to 4.5%
At the same time, there has been no change in the remaining rates. The bank offers the rate of 2.8% every 7 days to 14 days and 15 days to 29 days tenure. 3% on tenure of 30 days to 45 days. is 3.25% and 3.50% for 46 days to 90 days and 91 days to 120 days.
For tenures greater than 1 year but less than 2 years, the bank is offering an interest rate of 5.5% which is unchanged. Whereas for tenures ranging from 3 years to less than 5 years, the rate is 5.75% – which is the highest rate offered by a bank on FDs below Rs 2 crore. In addition, you have a rate of up to 5.65% on tenures of 5 years and above.
Special FD Scheme
At the same time, the public sector Indian Bank has come up with a special scheme of FD for the investors. The name of this scheme is IND Utsav 610 (IND UTSAV 610). The bank is giving better returns in this FD scheme. The maturity period in this special FD scheme will be 610 days. Here super senior citizens mean people aged 80 years or more. The expiry date of this scheme is October 31, 2022. That is, this scheme should be taken by October 31.
