There are many investment options in the market, but we keep looking for such investment schemes where we can get good returns with safe investment. As soon as the name of safe investment comes, the first thing that comes to our mind is Fixed Deposit (FD).
new Delhi. There are many investment options in the market, but we keep looking for such investment schemes where we can get good returns with safe investment. As soon as the name of safe investment comes, the first thing that comes to our mind is Fixed Deposit (FD). For the last few days, all banks have drastically increased the interest rates on FDs. Most banks offer FDs ranging from 7 days to 10 years. In such a situation, you can earn good returns even by doing FD for less days.
Public sector lender Central Bank of India has increased interest rates on fixed deposits of less than ₹2 crore. As per the official website of the bank, the new rates are effective from 30.12.2022. The bank increased FD rates by up to 75 bps.
The Bank is now offering interest rates ranging from 3.00% to 6.00% on deposits with maturities ranging from 7 days to 10 years. The bank is offering an interest rate of 7.35% on callable deposits and 7.60% on non-callable deposits maturing in 444 days.
3% interest on deposits maturing in 7 to 14 days
Bank is offering 3.00% interest rate on deposits maturing in next 7-4 days. While will continue to offer a rate of 3.25% on deposits maturing in 15-45 days. The interest rate offered by the Central Bank of India will remain at 4.25% for deposits maturing in 46 to 59 days, while for deposits maturing in 60 to 90 days, it increased by 75 basis points to 4.25% from 3.50% Is.
Central Bank of India FD Rates
Deposits maturing in 91 to 179 days will continue to earn interest at the rate of 4.50%, while deposits maturing in 180 to 364 days carry an interest rate of 5.50%. The bank has increased interest rates by 60 basis points (bps) on deposits maturing in one year to less than two years. That is, now you can get 6.75% return.
The Central Bank of India increased interest rates by 50 bps on deposits maturing in two years to less than 3 years. After which the interest rate became 6.50%. Deposits maturing in 3 to 10 years will now fetch an interest rate of 6.00% as against 5.75%, an increase of 25 basis points.
Currently, the bank offers maximum interest rate of 7.35% on callable deposits and 7.60% on non-callable deposits for a specified tenure of 444 days. The bank increased the interest rate on 555-day tenor by 50 basis points (bps), from 6.50% to 7.00% on callable deposits and 7.25% on non-callable deposits.
