For FD, customers usually prefer big banks only.
All banks have increased the interest rates on FDs after increasing the repo rate.
Now more than 7 percent interest is being received on FD.
New Delhi. In the year 2022, the Reserve Bank of India (RBI) has increased the repo rate 4 times. Due to the increase in the repo rate, the interest rates of fixed deposits have also increased (FD Rate Hike). Government, private and small finance banks are now offering higher interest rates on FDs. State Bank of India (SBI), HDFC Bank (HDFC Bank), ICICI Bank and Axis Bank are also now paying more interest on FDs.
FD is a safe mode of investment and offers guaranteed returns. This is the reason why many people in the country invest money in FDs. Now after increasing the interest rates by the banks, there is a possibility of increase in those investing in FDs. For FD, customers usually prefer big banks only. Let us know how much interest State Bank of India, HDFC Bank, ICICI Bank and Axis Bank are paying on FDs.
Axis Bank FD Rates
According to a Live Mint report, Axis Bank now offers 3.50 per cent on FDs maturing in 7 days to 45 days, 4 per cent on FDs maturing in 46 days to 60 days and 61 days to 6 months. Paying 4.50% interest. Customers are getting 5.25 percent interest on fixed deposits maturing in 6 months to 9 months.
The bank is paying interest at the annual rate of 5.50 per cent on FDs maturing in 9 months to 1 year, while customers are getting 6.25 per cent interest on FDs maturing in 1 year to 15 months. FU Bank maturing in 15 months to 18 months is getting 6.40 percent interest and 6.50 percent interest on fixed deposits maturing in 18 months to 3 years. Similarly, the bank is also paying 6.50 per cent interest on deposits maturing in 3 years to 10 years.
hdfc bank fd interest rates
HDFC Bank is giving interest ranging from 3 percent to 6.5 percent on FDs maturing in 7 days to 10 years to the general customer. At the same time, 3.5 percent to 7 percent interest is being given to senior citizens. HDFC Bank is giving an additional interest of 0.25% to senior citizens on FDs of less than Rs 5 crore for a period of 5 years.
state Bank of India
State Bank of India is giving 3% to 6.25% interest on FDs maturing in 7 days to 10 years to the general customer. At the same time, senior citizens are being given interest ranging from 3.50 per cent to 6.90 per cent. These rates are effective from 22 October. Apart from this, 1 percent more interest is being given to SBI staff and SBI pensioners.
ICICI Bank has also now increased the interest rates of its FDs. On November 16, the bank had increased FD interest rates by 30 basis points. The bank is now offering 3 per cent to 6.60 per cent interest to the general customer on FDs maturing in 7 days to 10 years. At the same time, this rate for senior citizens ranges from 3.5 percent to 7 percent.
FIRST PUBLISHED : November 23, 2022, 13:17 IST