FD Interest Rate Hike: FD rates are especially applicable for maturities with tenure of less than one year. Bank of Baroda has increased the interest rates on FDs with maturity between seven days to 14 days from 3% to 4.25%.
Bank of Baroda Interest Rates: After increasing the interest rates by SBI and Axis Bank, Bank of Baroda has also increased the interest rates. Bank of Baroda has increased the interest rates on domestic retail term deposits including NRO term deposits. The increased interest rates have been implemented from December 29. The bank has announced an increase from 10 basis points to 125 basis points on FDs of different maturities.
4.75% interest for 7 to 14 days
The increased interest rates are applicable on deposits of less than Rs 2 crore. According to the stock exchange filing, the increase in interest rates will mainly apply to FDs with short time maturity. FD rates are especially applicable for maturities with tenure of less than one year. Bank of Baroda has increased the interest rates on FDs with maturity between seven days to 14 days from 3% to 4.25%. The bank is giving 4.75% interest to senior citizens on the same period. Earlier this interest rate was 3.50 percent.
There will be benefit on short maturity
Similarly, the interest rate on FDs with maturity between 15 days to 45 days has been increased from 3.50% to 4.50%. Senior citizens are being offered an interest rate of 5% for this tenure, earlier it was 4%. The increase in interest rates on short maturity FDs will benefit investors who deposit money in short maturity FDs. Both existing and new customers can take advantage of the new rate offered by the bank.
New interest rates of Bank of Baroda
- 7 days to 14 days—–4.25 percent (first 3 percent)
- 15 days to 45 days—–4.5 percent (earlier 3.50 percent)
- 46 days to 90 days—–5.50 percent (first 5 percent)
- 91 days to 180 days—–5.60 percent (first 5 percent)
- 181 days to 210 days—-5.75 percent (earlier 5.5 percent)
- 211 days to 270 days—-6.15 percent (earlier 6.0 percent)
- From 271 days to less than one year—-6.25 percent (earlier 6.25 percent)
- One year——6.85 percent (earlier 6.75 percent)
- More than one year and less than 400 days——6.85 percent (earlier 6.75 percent)
- More than 400 days and less than 2 years—6.85 percent (earlier 6.75 percent)
- From 2 years to 3 years——7.25 percent (earlier 7.25 percent)
- From 3 years to 5 years——6.5 percent (earlier 6.5 percent)
- From 5 years to 10 years——6.5 percent (earlier 6.5 percent) 7.5 percent for senior citizens. On FDs of all other tenures, senior citizens are being given 50 basis points more interest.
Before this, interest rates have been increased by SBI and Axis Bank. SBI has increased the interest rate for FDs maturing in 45 days by 50 basis points. Before this, Bank of India, DCB Bank and Federal Bank have also increased the interest rates.
SBI interest rates
> 7 days to 45 days 3.50%
> 46 days to 179 days 4.75%
> 180 days to 210 days 5.75%
>211 days to 1 year less than 6%
> 1 year to less than 2 years 6.80%
> 2 years to less than 3 years 7.00%
>3 years to less than 5 years 6.75%
> 6.50% for 5 years and 10 years (additional interest of 50 basis points will be given to senior citizens on all tenure FDs.)
Axis Bank interest rates
- 7 days to 14 days: 3.00%
- 15 – 29 days: 3.00%
- 30 – 45 days: 3.50%
- 46 – 60 days: 4.25%
- 61 days – 3 months: 4.50%
- 3 Months – 3 Months 24 Days: 4.75%
- 3 Months 25 Days – 4 Months: 4.75%
- 4 months to 5 months: 4.75%
- 5 months – 6 months: 4.75%
- 6 months – 7 months: 5.75%
- 7 months – 8 months: 5.75%
- 8 months – 9 months: 5.75%
- 9 months – 10 months: 6.00%
- 10 months – 11 months: 6.00%
- 11 Months – 11 Months 24 Days: 6.00%
- 11 Months 25 Days – 1 Year: 6.00%
- 1 year – 1 year 4 days: 6.70%
- 1 year 5 days – 1 year 10 days: 6.70%
- 1 year 11 days – 1 year 24 days: 6.70%
- 1 year 25 days – 13 months: 6.70%
- 13 months – 14 months: 6.70%
- 14 months – 15 months: 6.70%
- 15 months – 16 months: 7.10%
- 16 months – 17 months: 7.10%
- 17 months – 18 months: 7.10%
- 18 months – 2 years: 7.10%
- 2 years – 30 months: 7.10%
- 30 months – 3 years: 7.10%
- 3 years – 5 years: 7.10%
- 5 years to 10 years: 7.00%
Bank of India
Bank of India has increased the interest rate on FDs of more than Rs 2 crore and less than Rs 10 crore. The interest rate on FD is 5.25% for 46 days to 90 days, 6.00% for 91 days to 179 days, 6.25% for 180 days to 210 days, 6.50% for more than 211 days and less than one year. Getting interest from. Similarly, the interest rate for one year tenure is 7.25% per annum.
Kotak Mahindra Bank
Kotak Mahindra Bank has increased the interest rate on FDs with tenure of 3 to 5 years. It is offering interest at the rate of 2.75% to 7.25% on FDs maturing in 7 days to 10 years. 3.35% to 7.80% interest is being given on these deposits for senior citizens.
DCB Bank
DCB Bank has increased the interest rate for select tenure on FD less than Rs 2 crore. The bank is offering interest rates up to 8% for normal customers and 8.60% for senior citizens. DCB Bank is offering interest ranging from 3.75% to 8% to general customers on FDs ranging from 7 days to 10 years. Similarly, senior citizens are being given interest ranging from 4.25% to 8.60%.
Federal Bank
Federal Bank has increased the interest rate on amounts deposited for 500 days to 7.50%. For senior citizens, Federal Bank is offering 8.15% interest on FDs maturing in 500 days and 7.80% interest on FDs of tenure more than 21 months and less than three years.
