Fixed Deposit Interest Rate Hike: Today we want to tell you about the FDs of such banks, in which you can get very high returns. These banks have increased the interest rates of FDs. Know full details..
New Delhi: Nowadays people are more inclined towards saving and investing than ever before. Earlier, more people used to invest in gold and FDs. But with the changing times, many types of investment have come in the market. These have high returns as well as big risks. That’s why people still trust FD more. Today we want to tell you about FDs of such banks, in which you can get very high returns. These banks have increased the interest rates of FDs.
Fixed deposit can give you good returns. Private sector Kotak Mahindra Bank and Yes Bank have changed their interest rates on fixed deposits of less than Rs 2 crore. Both the banks have implemented the new rates from 10 August 2022. Kotak Mahindra Bank has increased its FD interest rates by up to 25 basis points.
Kotak Mahindra Bank FD Rates (Kotak Mahindra Bank FD rate)
Kotak Mahindra Bank will offer an interest rate of 2.65 per cent on FDs maturing in 15 days to 30 days, while fixed deposits maturing in 31 days to 90 days will attract 3.25 per cent interest. The lender will now offer an interest rate of 3.75 per cent on deposits maturing in 91 to 179 days. The interest rate for FDs maturing in 180 to 363 days will be 5 percent, while it will be 5.25 percent for FDs with a tenor of one year. The bank’s latest rate is 5.75 per cent for a tenure of 365 days to 389 days.
Long-term FDs maturing between 390 days to 3 years will now attract an interest of 5.85 per cent, while fixed deposits maturing between 3 years and 10 years will continue to earn interest at the rate of 5.90 per cent.
Yes Bank FD rates
Private sector Yes Bank will pay interest at the rate of 3.25 percent on deposits for 7 to 14 days, while interest on deposits for 15 to 45 days will be 3.70 percent. Deposits maturing in 46 days to 90 days will get an interest rate of 4.10 percent.
An interest rate of 4.75 per cent is offered on deposits maturing in 3 months to less than 6 months. The bank will give 5.75 percent interest on deposits between 9 months to one year. In addition, the bank will offer an interest rate of 6.25 per cent on deposits with maturities ranging from one year to less than 18 months.
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