Fixed Deposit Rates Archives

Yes Bank increased interest rates on fixed deposits, customers will get benefit

There is more pressure now to raise the interest rate on bank deposits. Banks are gradually raising their deposit interest rates in such a scenario. Yes Bank, a private sector bank, has recently announced plans to raise the interest rates on its deposits. It has been announced that interest rates would be increased on fixed deposits.

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Less than two crores have seen an increase in interest rates from the bank on FDs. Interest rates have gone hiked by the bank from 0.25 to 0.50 basis points. As of February 21, 2023, the bank’s new rates will be in effect. The 25-month FD rates have altered, according to the bank. The bank also stated that interest on 36-month FDs will be given up to 8%.

#YESBank has increased the interest of select tenures of fixed deposits (FDs) by 25 to 50 basis points (bps).https://t.co/vMDakf3npP
— Economic Times (@EconomicTimes) February 22, 2023

Yes Bank has indicated that interest will be paid at the rate of 6 percent instead of 5.75 percent on deposits from 181 days to 271 days in the list of its freshly declared interest rates. The bank has announced a 6.25 percent interest rate on deposits made between 272 days and one year. Earlier, this rate was 6 percent.

PNB Bank increased interest rates on FD, check new rates

One of the biggest public sector banks in the nation, Punjab National Bank, also known as PNB, has decided to raise the interest rates on its fixed deposits. As of today, these increased rates are in effect. A 30-basis-point increase has been made by PNB to these rates.

ICICI Bank increased interest rates on fixed deposits, this is the maximum interest rate

Bank interest rates have begun to rise as a result of the RBI’s hike in the repo rate. Along with an increase in loan interest rates, interest rates on bank savings have also begun to rise.

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The second-largest private sector bank in the nation, ICICI Bank, followed SBI and HDFC Bank in raising interest rates on fixed deposits, or FDs, from 0.25 percent to 0.50 percent.

The interest rates on Fixed Deposits under Rs 2 crore have risen at ICICI Bank. The bank raised the rate of interest on FDs that are older than 46 days.

In addition, the interest rate on FDs with terms longer than one year has been raised by 0.50 percent. The bank offers older people a maximum interest rate of 7.50%. The bank’s new rates went into effect on December 16th.

The repo has been raised by the RBI five times so far this year. In the bi-monthly monetary policy review on December 7, the central bank raised the repo rate by an additional 0.35 percent to 6.25 percent with the goal of lowering inflation.

New Update for ICICI Bank Account holder! Interest rate hike, know how much has increased

The Reserve Bank raised the repo rate three times in recent days in an effort to rein in inflation. It had increased by 1.40 percent throughout this time. Following that, the interest rate on the loan was raised by both commercial and public banks. Following this, some banks raised their deposit interest rates. Banks are also raising the Fixed Deposit Rate along with this (FD Rates). Axis Bank, UBI, and Indian Overseas Bank raised the FD rate recently.

This rule came into effect today

The interest rate has now also increased at the ICICI Bank, a commercial institution. If you have an ICICI Bank account, you would be relieved to hear this news. You should be aware of how much the bank has raised the interest rate on FDs. For FDs under Rs 2 crore, the bank has raised the interest rate by 25 basis points. The bank began applying these rates on September 26. Beginning on September 27, the interest rate on loans totaling more than 2 crores but less than 5 crores has also been raised.

Check here ICICI Bank’s new interest rates

Union Bank also increased interest rate

Union Bank of India had previously altered the interest rate as well. The bank’s website states that from 7 to 45 days, FDs are eligible for 3 percent interest, and from 46 to 90 days, FDs are eligible for 4.05 percent interest. You will receive interest at a rate of 4.10 percent if you make an FD between 91 and 180 days.

FD Rates: Great news for HDFC customers, From today customers will benefit from this big change

For the customers of HDFC Bank, the leading private bank has once again given them the good news. Again, the HDFC bank has changed the Fixed Deposit (FD) rates. The new rates go into effect on April 20. A new rate will be applicable to FDs below Rs 2 crore.

Here are the new interest rates

A 2.50 percent interest rate is being offered by the bank to the citizens holding 7-29 day FDs. On top of this, the bank offers 3% interest on FDs of 30 days to 90 days. In response to the new change, HDFC Bank is giving 3.50 interest on fixed deposits for 91 days to 6 months.

Maximum interest rate 5.60 percent

The bank’s site states that interest will be paid at a rate of 5.10 percent on FDs maturing in one year from one day to two years. The interest rate on FDs for two years, one day, and three years is 5.20 percent. On the other hand, interest rates of 5.45 percent will be available on FDs ranging from three years 1 day to five years, and 5.60 percent on FDs lasting from five years 1 day to ten years.

HDFC Bank’s latest FD interest rates are effective from 20 April 2022

7 to 14 days: 2.50%
15 to 29 days: 2.50%
30 to 45 days: 3%
61 to 90 days: 3%
91 days to 6 months: 3.5%
6 months 1 day to 9 months: 4.4%
9 months 1 day to 1 year: 4.40%
1 year 1 day to 2 years: 5.10%
2 years 1 day to 3 years: 5.20%
3 years to 1 day 5 years: 5.45%
5 years 1 day to 10 years: 5.60%

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