Highest Interest Rates on FD: After increasing the repo rate by RBI, private and private banks have increased the interest rate on Fixed Deposit Interest Rates. The Reserve Bank has increased the repo rate by 190 basis points since May. Let us know which banks are paying the highest interest?
Many banks and financial institutions are offering interest rates above 7%. If the inflation rate has increased to 7.4 percent in September, then the offer of interest rate of 7 percent or more is going to be very attractive.
DCB Bank is offering an interest rate of 7.5% on FDs of three years. At the same time, AU Small Finance Bank is also paying an interest of 7.5% per annum on FDs maturing in three years.
Apart from this, Bandhan Bank, City Union Bank and Karur Vysya Bank are offering 7 percent interest rate to customers on three-year deposits. The new interest rate has been announced by most of the banks after increasing the repo rate by RBI.
Gaurav Aggarwal, Senior Director of Paisabazaar, says that the increase in the interest rate on fixed deposits is for a short time. In such a situation, if you can invest then this is a good time. Let us tell you that after the increase in the repo rate by the RBI, the banks have increased the interest rate.
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