FD Interest Rates: Bank of Baroda and Kotak Mahindra Bank have increased the interest rates for deposits in their fixed deposits (FD) or term deposits.
FD Interest Rates: In two days, two banks- Bank of Baroda and Kotak Mahindra Bank increased the interest rates for deposits in their fixed deposits (FD) or term deposits. Done. If you are planning to get FD, then you can invest money in the FD scheme of both these banks. According to the official website of public sector Bank of Baroda (BOI), the bank has increased interest rates on fixed deposits of less than ₹ 2 crore. The new rates are effective from July 28, 2022. Similarly, Kotak Mahindra Bank of the private sector has also
Bank Of Baroda Rates
The bank hiked interest rates over several tenors and is now guaranteeing interest rates ranging from 3.00 per cent to 5.50 per cent for general public and 3.50 per cent to 6.50 per cent for senior citizens. The bank has increased the interest rate on fixed deposits (FD) maturing in 7 days from 2.80 percent to 3.00 percent and on fixed deposits maturing in 46 days from 3.70 percent to 4.00 percent.
Similarly, on deposits from 181 days to 270 days, Bank of Baroda is now offering an interest rate of 4.65 per cent, which has increased by 35 basis points from 4.30 per cent to 4.65% now. Similarly, interest rates on deposits maturing in 271 days and above and less than 1 year have been increased by 25 basis points.
Deposits maturing in 1 year will now get an interest rate of 5.30%, which was 5% earlier. Fixed deposits maturing from 1 year to above 2 years will continue to earn an interest rate of 5.45%. Bank of baroda will continue to offer an interest rate of 5.50 per cent on fixed deposits maturing more than two years and up to three years. The interest rate on fixed deposits maturing for more than three years and up to ten years has increased from 5.35 to 5.50 percent.
Kotak Mahindra Bank new rates
Private sector lender Kotak Mahindra Bank has increased interest rates on fixed deposits of less than ₹ 2 crore (kotak mahindra bank fd rates). According to the bank’s official website, the new rates are applicable from July 26, 2022. The bank has increased the interest rates on fixed deposits maturing in 365 days to 389 days after the revision.
The bank will continue to offer an interest rate of 2.50 per cent on deposits maturing in 7 to 30 days and an interest rate of 3 per cent on fixed deposits maturing in 31 to 90 days. On fixed deposits maturing from 91 days to 179 days, Kotak Mahindra Bank will continue to offer an interest rate of 3.50 per cent, while on fixed deposits maturing from 180 days to 363 days, the bank has retained its previous interest rate of 4.75 per cent.
The interest rate on deposits maturing in 364 days will remain at 5.25 per cent. The interest rate on fixed deposits maturing in 389 days from 365 days has increased from 5.50 per cent to 5.60 per cent, an increase of 10 basis points. The bank will continue to offer an interest rate of 5.75 per cent on fixed deposits maturing in less than 3 years from 390 days (12 months and 25 days), and maturing in 3 years and above and 10 years. Will continue to offer an interest rate of 5.90 percent on the amount to be deposited.
