This week many banks have increased the interest rates on their fixed deposit schemes. This list includes both government and private banks.
Bank FD Rate: One of the best ways to save is Fixed Deposit. The amount is deposited under the scheme for a specified period, on which the bank pays interest. Many banks have increased the loan interest rates in January. At the same time, interest rates on FD schemes have been increased by many banks. This week also many banks have changed the rates. The list includes IDFC First Bank, Small Finance Bank, Jammu Kashmir Bank and private sector lender RBL Bank. The interest rates will also be different for different tenures.
RBL Bank changes FD interest rates
This bank has changed the interest rate. FDs of 7 days to 10 years will now get interest ranging from 3.25 per cent to 6.25 per cent. The new rates have come into effect from January 11. The bank is paying 7.55 per cent interest on FDs of 453 days to 725 days. 5.5 percent interest is being received on the scheme of 241 days to 364 days. Whereas senior citizens are getting more benefits. 7% interest is being received on FDs of 726 days to 60 months.
J&K Bank also made the change
It is one of the oldest banks in the country. Recently it has increased the interest rates of fixed deposits. The interest for FDs of less than Rs 2 crore has been increased by 75 basis points. Maximum interest of 7.25% is being received on FDs ranging from 1 year to less than 18 months. The new rates have also come into effect from January 11.
IDFC First Bank New Interest Rates
This bank has increased the interest rates on bulk deposits up to 2 crores. The new rates have come into effect from January 13. Interest ranging from 5.30 per cent to 7.30 per cent is being received on FDs maturing in 7 days to 10 years. At the same time, 7.55 percent interest is being received on the scheme of 366 days-399 days. At the same time, a benefit of 5.30 percent is being given on FD of 7-35 days.
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