FD is the best option for long term savings and banks also give good interest on it, but recently these 4 banks have changed the rules regarding FD, let us know.
In the month of September, many banks have changed the interest rates of fixed deposits. If you are also thinking of getting a bank FD this month, then definitely check the new rates before that. Along with this, see in which bank you are getting the benefit of higher
interest by making FD. Check which 4 banks have changed FD rates.
IDBI Bank has revised the interest rates on fixed deposits. The new rules of the bank have come into effect from 15 September 2023. For ordinary citizens, interest on FD between 7 days to 10 years is available from 3% to 6.80%. Apart from this, senior citizens are getting the benefit of interest at the rate of 3.50% to 7.30%.
Axis Bank has changed the interest rates on certain tenure FDs of less than Rs 2 crore. Axis Bank has reduced FD rates by 50 basis points. The new rates of the bank are applicable from September 15. After the amendment, Axis Bank is offering interest rates ranging between 3% to 7.10% for tenures ranging from 7 days to 10 years.
Kotak Mahindra Bank has revised the interest rates for loans less than Rs 2 crore. The revised rates are applicable from September 13. The bank is giving interest at the rate of 2.75% to 7.25% to common citizens.
At the same time, interest is being given to senior citizens at the rate of 3.25% to 7.75%. Apart from this, the interest rate on the tenure of 23 months has been increased by 25 bps from 7.20 to 7.25%.
Yes Bank has revised the interest rates on FDs with deposits of less than Rs 2 crore for certain periods.
After the amendment, the bank is giving interest at the rate of 3.25% to 7.75% to the common citizens. According to the website of Yes Bank, the bank is offering interest ranging from 3.75% to 8.25% for senior citizens. The bank’s revised FD rates are effective from September 4, 2023.
