FD Rates: State Bank has recently decided to increase the interest rates of its FD and RD. After this, now two more banks have decided to give interest rate on FD to their customers.
Fixed Deposit Rates: After the Reserve Bank’s decision to increase the repo rate on February 8, 2023, it has had a big impact on the customers of the bank. Many banks have increased their MCLR and FD rates. Due to this the loan has become expensive. Along with this, the customers of the bank are getting the benefit of higher interest on the Deposit Scheme.
Recently, three banks of the country have increased the interest rates of their Fixed Deposit Scheme. This includes the names of Bank of Maharashtra and IndusInd Bank. If you want to invest in one of these three FD schemes, then we are telling you about the updated interest rate of all three-
Bank of Maharashtra FD Rates-
Bank of Maharashtra (Bank of Maharashtra FD Rates) has decided to increase the interest rate on deposit schemes of less than Rs 2 crore. After this increase, interest rate ranging from 2.75 percent to 5.75 percent is being offered to general customers on FDs ranging from 7 days to 10 years.
At the same time, the bank is offering 7 percent and 6.75 percent interest rate on two special FD schemes ie 200 and 400 days. The new rates have come into effect from February 14, 2023. Let us know about the interest rate of different periods-
7 to 30 days FD – 2.75%
31 to 45 days FD – 3.00 percent
FD of 46 to 90 days – 3.50 percent
FD of 91 to 119 days – 4.50 percent
FD of 120 to 180 days – 4.75%
FD of 181 to 270 days – 5.25 percent
FD of 271 to 364 days – 5.50%
1 year FD – 6.25 percent
FD of 1 to 2 years – 6.00 percent
FD of 2 to 3 years – 6.00 percent
FD of more than 3 years – 5.75%
IndusInd Bank FD Rates-
IndusInd Bank has also decided to increase the interest rate on deposits of less than Rs 2 crore. After this increase, the bank is offering interest rates ranging from 3.50 percent to 7.00 percent on FDs ranging from 7 days to 10 years. At the same time, the bank is offering a maximum interest rate of 7.50 percent to ordinary citizens. The new rates of the bank have come into effect from February 16, 2023. After this increase, let us know how much interest rate is being received by the common citizens on different periods-
7 to 30 days FD – 3.50 percent
31 to 45 days FD – 4.00 percent
FD of 46 to 60 days – 4.50 percent
61 to 90 days FD – 4.60 percent
91 to 120 days FD – 4.75 percent
FD of 121 to 180 days – 5.00%
FD of 181 to 210 days – 5.75 percent
211 days to 269 days FD – 5.80%
FD of 270 to 354 days – 6.00%
FD of 355 to 364 days – 6.25 percent
FD from 1 to 1.5 years – 7.00 percent
FD from 1.5 to 2 years – 7.25 percent
FD for 2 to 3 years – 7.50 percent
FD from 3 years to 61 months – 7.25 percent
FD above 61 months – 7.00%
RBI is continuously increasing the repo rate-
Inflation in India has broken the back of common people. In such a situation, to control the inflation rate in the country, the Reserve Bank of India has increased its repo rate a total of 6 times since May 2022.
It has increased from 4.00 percent to 6.50 percent. Due to the continuous increase in the repo rate, banks are continuously increasing their savings account, FD rates and RD rates.
Recently, the country’s largest public sector bank i.e. State Bank has increased the interest rates of its MCLR, FD and RD. After this, where on the one hand the burden of EMI on the customers has increased, on the other hand the benefit of higher interest has also been received on savings.
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