Diabytes
Fixed deposit rates News
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Investors can lock in their funds for a duration spanning from 7 days to 10 years.
HDFC Bank offers interest rates between 3% and 7.2% for deposits under Rs 2 crore.
Senior citizens enjoy an additional 0.5 percent interest across all tenures.
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BoB disclosed that interest rates on term deposits up to Rs 2 crore will witness an increase ranging from 10 basis points to a significant 125 basis points across different maturity brackets.
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Considering a fixed deposit of Rs 1 lakh, with interest rates varying from 2.50 percent to 8.50 percent per annum, the following monthly interest estimates can provide a clear picture of how much interest you will earn.
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The FD rates for money under Rs 2 crore on certain tenors are listed below from private banks like HDFC Bank, ICICI Bank, Yes Bank, and Axis Bank.
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Bank of Baroda hiked fixed deposit rates, effecting from May 12, 2023.
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Depositors under the age of 60 might earn up to 7.95 percent annually. Non-senior individuals can take advantage of FD interest rates of up to 7.75 percent per annum.
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SBI has revised its fixed deposit interest rates with effect from October 22
The rates were earlier hiked on October 15
SBI now offers a maximum interest of up to 6.9 per cent for senior citizens
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SBI has hiked fixed deposit interest rates with effect from October 15
The bank now offers an interest of up to 6.65 per cent for senior citizens
SBI pensioners can earn a return of up to 7.65 per cent
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The interest rate has been raised to 6.5 percent for a 12-month term.
Previously, the rates for these tenures were 6%.
The revised rates will take effect on December 9, 2021.
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Fixed deposits are referred to as long-term deposits since they are held for an extended period of time, often seven to ten years.
The bank pays the interest rate that was in effect at the time the money was deposited, making it completely risk-free.
Fixed deposit rates have fallen in the two years since India was rocked by the Covid-19 epidemic.
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Interest rate on various small savings like PPF, NSC and Post Office savings are set to fall as the government is contemplating reduction in rates.
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State-owned Punjab National Bank Thursday reduced interest rate on fixed deposit by 0.25 percent on select maturities, a moves which is seen as precursor to cut in the lending rate.
Anticipating a lower credit offtake than what was expected, State Bank of India (SBI) has revised its fixed deposit rates Thursday onwards.
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