City Union Bank has implemented its new interest rates from 6th of this month (May). After which the bank will give 7.75% annual interest to senior citizens on FD (Fixed Deposit) of 400 days.
Banks are trying to attract the attention of investors by increasing their interest rates. With countless investment options available, retaining customers has become a big challenge for banks today. This is the reason why banks are trying to attract people by increasing their interest rates on fixed deposits. This month, four banks have increased the interest rates on their fixed deposit schemes. Which includes City Union Bank, RBL Bank, Utkarsh Small Finance Bank and Capital Small Finance Bank.
City Union Bank has implemented its new interest rates from 6th of this month (May). After which the bank will give 7.75% annual interest to senior citizens on FD (Fixed Deposit) of 400 days, while general citizens will get 7.25% annual interest, even on investments of less than 400 days the bank will give interest ranging from 5% to 7.75%. Will give. Whereas general customers will get 5% to 7.25% interest on investing during this period.
RBL Bank has also increased its interest rates this month. Now people will get an annual return of 8.50% if they invest here for 18 to 24 months. However, this rate is only for senior citizens. Ordinary citizens will get 8% interest during this period. At the same time, this bank is giving 7.30% to common citizens on investments of more than 15 months and less than 18 months. Whereas senior citizens will get 8.30% interest on FD (Fixed Deposit).
Utkarsh Small Finance Bank is also giving tremendous returns on fixed deposits. According to the information available on the bank’s website, if senior citizens invest here for two to three years, they will get an annual interest of 9.10%. Besides, common citizens will also get interest at the rate of 8.50% per annum. Apart from this, the bank is giving an annual return of 8.85% to senior citizens on investment of 700 days (less than 2 years). Whereas for ordinary citizens the interest rate during this period will be 8.25%.
Capital Small Finance Bank has brought this good news for investors. The bank is giving a return of 8.05% on FD (Fixed Deposit) of 400 days. So if ordinary citizens invest for 400 days, then the bank has fixed an interest rate of 7.55% for them.
