These banks have revised FD interest rates in the last one week Here is a look at other banks that have revised their fixed deposit interest rates following the trend
There is no doubt that the era of low FD interest rates is far behind us, and FD investors may look forward to brighter times in the future. Investors in fixed deposits are celebrating the dramatic increase in interest rates. The rate raise momentum that began in May 2022 seems to be continuing, and they can hardly believe how quickly their fate has changed over the past eight months.Last week, big banks including SBI, HDFC Bank, ICICI Bank increased their fixed deposit interest rates. Here is a look at other banks that have revised their fixed deposit interest rates following the trend.
IDFC First Bank FD interest rate
IDFC First Bank revised fixed deposit interest for amounts below Rs 2 crore. The new rates are effective from December 21, 2022. After the revision, the bank will now offer an interest rate ranging between 3.50% to 7.50% for tenure between 7 days to 10 years for regular citizens. For senior citizens, there will be an additional spread of 0.50% over the above rate and will not be available for NRE or NRO Fixed Deposits.
PeriodRate of Interest w.e.f. December 21, 20227 - 14 days3.50%15 - 29 days3.50%30 - 45 days4.00%46 - 90 days4.50%91 - 180 days5.00%181 days – 366 days6.75%367 days – 18 months7.25%18 months - 1 day- 3years7.50%3 years – 1 day- 5 years7.00%5 years- 1 day – 10 years7.00%
UCO Bank FD interest rate
UCO Bank revised fixed deposit interest for amounts below Rs 2 crore. The new rates are effective from December 19, 2022. After the revision, the bank offers interest rate between 2.90% to 6.75% for regular citizens and 3.15% to 7.25% for senior citizens.
Maturity Period
Existing ROI for GeneralRevised ROI for GeneralExisting ROI forRevised ROI For Senior CitizenSenior CitizenRate % p.a.Rate % p.a.Rate % p.aRate % p.a7-14 days2.92.93.153.1515-29 days2.92.93.153.1530-45 days333.253.2546-60 days444.254.2561-90 days444.254.2591-120 days444.254.25121-150 days4.54.54.754.75151-180 days555.255.25181-364 days666.256.251 year6.356.56.66.75Above 1 Yr to upto 443 days6.26.36.76.8above 445 days to upto 665 days6.26.36.76.8Above 667 days to upto 2 yrs6.26.36.76.8Above 2 yrs and up to 3 yrs66.26.56.7Above 3 yrs and below 5 yrs66.26.56.75 yrs and above66.16.56.6444 days6.256.56.757666 days6.56.7577.25
Federal Bank FD interest rate
Federal Bank revised fixed deposit interest for amounts below Rs 2 crore. The new rates are effective from December 18, 2022. After the revision, the bank offers interest rate between 3% to 7.25% for regular citizens and 3.50% to 7.75% for senior citizens.
Period General PublicSenior citizen7 days to 29 days3.00%3.50%30 days to 45 days3.25%3.75%46 days to 60 days4.00%4.50%61 days to 90 days4.25%4.75%91 days to 119 days4.50%5.00%120 days to 180 days4.75%5.25%181 days to 270 days5.75%6.25%271 days to less than 1 year6.00%6.50%1 year to less than 18 months6.60%7.10%18 months to 2 years7.25%7.75%Above 2 years to less than 3 years6.75%7.25%3 years to less than 5 years6.50%7.00%5 years to 2221 days6.30%6.95%2222 Days6.40%7.05%2223 days and above6.30%6.95%
IDBI Bank FD interest rate
IDBI Bank changed the interest rate on fixed deposits for sums under Rs 2 crore. Beginning on December 19, 2022, the new prices will apply. The bank now offers interest rates ranging from 3% to 6.75% for regular people and from 3.50% to 7.50% for senior citizens.
Maturity Slab General CustomersSr. Citizen0-6 DaysNANA07-14 days33.515-30 days33.531-45 days3.353.8546- 60 days4.254.7561-90 days4.254.7591-6 months4.556 months 1 day to 270 days5.255.75271 days up to5.561 Year6.757.25> 1 Year to 2 Years6.757.50#> 2 Years to 6.57.25#3 Years to 6.257.00#5 Years6.257.00#> 5 Years to 7 Years6.257.00#>7 Years to 10 Years6.257.00#>10 Years to 20 Years$4.8 5.30 Tax Saving FD5 Years6.257.00#
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This story originally appeared on: India Times - Author:Faqs of Insurances
