FD Interest Rates Hike: If you are thinking of doing FD, this is a good time. Currently, taking into account this phenomenon, many banks are offering attractive interest rates to attract customers to keep FDs with them.
It is no mistake that FD investment in banks is gaining more popularity as interest rates have increased in recent times. Currently, the Reserve Bank of India has put a short break on the interest rate to control the rate, so this time is quite favorable for making fixed deposits. If you are thinking of doing FD, this is a good time. Currently, taking into account this phenomenon (Current Affairs), many banks are offering attractive interest rates to attract customers to keep FD with them. So let’s know here the interest rate in some major banks.
Indus Ind Bank Interest Rate
7 -14 days
Interest Rate : General People – 3.5; Senior Citizens – 4
15-30 days
Interest Rate : General People – 3.5; Senior Citizens – 4
31-45 Days
Interest Rate : General People – 4; Senior citizens – 4.5
46-60 days
Interest Rate : General People – 4.5; Senior citizens – 5
61-90 Days
Interest Rate : General People – 4.6; Senior Citizens – 5.10
91-120 Days
Interest Rate : General People – 4.75; Senior citizens – 5.25
121-180 days
Interest Rate : General People – 5; Senior Citizens – 5.50
181-210 days
Interest Rate : General People – 5.85; Senior citizens – 6.35
211-269 days
Interest Rate : General People – 6.10; Senior citizens – 6.60
270-354 days
Interest Rate : General People – 6.35; Senior citizens – 6.85
355-364 days
Interest Rate : General People – 6.35; Senior citizens – 6.85
Punjab National Bank Interest Rate
7-14 days
normal people – 3.5; Senior citizens – 4; Super Senior – 4.30
15-29 days
ordinary people – 3.5; Senior citizens – 4; Super Senior – 4.30
30-45 days
ordinary people – 3.5; Senior citizens – 4; Super Senior – 4.30
46-90 days
ordinary people – 4.5; Senior citizens – 5; Super Senior – 5.30
91-179 days
ordinary people – 4.5; Senior citizens – 5; Super Senior – 5.30
180-270 days
ordinary people – 5.5; Senior citizens – 6; Super Senior – 6.30
271 –
ordinary people within one day of the year – 5.8; Senior citizens – 6.30; Super Senior – 6.60
IDBI Bank Interest Rate
0-6 days
not applicable
7-30 days
General people -3; Senior citizens – 3.5
31-45 days
general population -3.25; Senior citizens – 3.75
46-90 days
Normal people -4; Senior citizens – 4.50
91-
normal people for 6 months -4.5; Senior citizens – 5
From 6 months – 364 days
General people -5.75; Senior citizens – 6.25
In fact, everyone expected the Reserve Bank to increase its repo rate. But it is special that the Apex Bank has maintained the repo rate in such a way that everyone’s expectations have fallen.
Investors had indeed assumed that interest rates would now rise again. In its bi-monthly report on April 6, 2023, the Reserve Bank surprised everyone by keeping the repo rate at 6.5 without any rate hike.
Although there was no increase in the repo rate this time, the overall repo rate has increased by 2.5 percent in the last eleven months. Overall, this time is a good time for those who want to keep fixed deposits in banks. Last year alone, FD rates were on a steep decline. It can be said that there has been a lot of growth now.
After all, the rising rate of inflation was the main reason for the Reserve Bank to increase the interest rate. But now there is no increase in repo rate which is a relief for many people.
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