FD Rate Increased: With the beginning of 2024, many big banks of the country are offering the benefit of higher interest rates on FD schemes to the customers. Know about this.
Bank Fixed Deposit Rates: There is good news for people investing in FD schemes in the new year. Many big banks of the country have decided to give increased interest rates on FD schemes with the beginning of 2024. Some banks have launched special FD schemes for customers on the occasion of New Year, while some have increased the interest rates of their existing fixed deposit schemes. Let us know by how much the banks have decided to increase their interest rates.
Bank of India started special FD scheme
The country’s largest public sector bank, i.e. Bank of India, has launched Super Special FD Scheme on the occasion of New Year to provide customers the benefit of higher interest rates on high deposits. Under this scheme, customers are getting the benefit of 7.50 percent interest rate on deposits of Rs 2 to 50 crore for a period of 175 days. This scheme has started from January 1, 2024.
PNB increased the interest rate by this much
While giving a gift to the customers on New Year, Punjab National Bank has also decided to increase the interest rate on its FD scheme of less than Rs 2 crore. The bank has announced to increase the FD rate by 50 basis points on FDs of 180 to 270 days. In such a situation, common citizens are getting the benefit of 6 percent interest on this period. At the same time, customers are getting the benefit of interest rate of 45 basis points on FD of 271 to 1 year. In such a situation, now during this period you are being offered 7.25 percent interest rate on the deposited amount. Whereas on 400 day FD scheme, interest is now 7.25 percent instead of 6.80 percent. The new rates have come into effect from January 1, 2024.
State Bank of India also gave New Year gift to customers
India’s largest public sector bank has decided to increase the interest rates on FD schemes of different tenures. These rates have been increased for deposit schemes of less than Rs 2 crore. SBI is offering the benefit of 3 to 3.50 percent interest rate on fixed deposit scheme of 7 days to 45 days. Whereas on FD scheme of 46 days to 179 days, it is offering interest rates ranging from 4.5 percent to 4.75 percent, on FD schemes of 180 to 210 days, it is offering interest rates ranging from 5.25 percent to 5.75 percent. At the same time, the bank has not made any change in the interest rates of FD scheme of 1 to 2 years. At the same time, general customers are getting the benefit of 7.00 percent interest rate on FD scheme of 2 to 3 years, 6.75 percent on FD scheme of 3 to 5 years and 6.50 percent interest rate on FD scheme of 5 to 10 years.
ICICI Bank also increased interest on FD
The country’s largest private sector bank ICICI Bank has also increased its interest rates while giving New Year gifts to its customers. The bank has increased the interest rates on 389 day special FD scheme from 6.7 percent to 7.25 percent. Apart from this, the bank will now offer 6% instead of 4.50% on FD scheme of 61 days to 90 days, 6.50% instead of 4.75% on FD scheme of 91 days to 184 days, 5.75% on FD of 185 days to 270 days. From 390 days FD to 6.75 per cent, from 6.70 per cent to 7.25 per cent on FDs of 390 days to 15 months and on FDs of 5 to 10 years, now the benefit of interest rate is 7 per cent instead of 6.90 per cent. These new rates have come into effect from January 3, 2023.
Axis Bank also increased the interest rate
Axis Bank has also given the gift of increased interest rates on FD scheme to the customers on the New Year. The new rates have come into effect from December 26, 2023. The bank is offering 7.10 percent interest rate on FD schemes of 1 year to 15 months. At the same time, interest ranging from 4.75 percent to 6 percent is being offered by the bank on schemes for tenure of less than 15 months.
Bank of Baroda also gifts higher interest on FD scheme
Public sector bank i.e. Bank of Baroda has also given the gift of increased interest rates to its customers on 29th December. The bank is offering the benefit of 6.85 percent interest rate on FD scheme for a period of 1 to 2 years. Whereas on FD scheme of 2 to 3 years, the benefit of interest is up to 7.25 percent and on FD of 3 to 10 years, the benefit of interest is up to 6.50 percent. At the same time, customers are getting the benefit of 7.15 percent interest rate on 399 day FD on Baroda Tricolor Plus Deposit Scheme.
DCB Bank also increased interest on FD
The name of DCB Bank is included in the list of those banks which are offering the benefit of higher FD scheme interest rates to their customers. The bank is offering the benefit of 7.85 percent interest rate instead of 7.15 percent on FD scheme of 12 months to 12 months and 10 days.
