There is good news for the customers of Central Bank of India and Indian Overseas Bank. The bank has announced a hike in interest rates on fixed deposits (FDs) of less than Rs 2 crore.
FD Interest Rates: There is good news for the customers of Central Bank of India and Indian Overseas Bank (IOB). The bank has announced a hike in interest rates on fixed deposits (FDs) of less than Rs 2 crore. According to the official website of Central Bank of India, the new rates will be applicable from tomorrow i.e. July 10, 2022. At the same time, public bank Indian Overseas Bank has announced an increase in interest rates on fixed deposits of less than Rs 2 crore. The increased interest rates, according to the bank’s website, will be effective from July 12, 2022.
Central Bank Of India FD Rates
The interest rate on FDs maturing in 15-30 days remains at 2.90 percent. At the same time, the bank will continue to offer 2.75 percent interest rate on deposits maturing in 7-14 days. The interest rate on FDs maturing in 46-90 days has been increased from 3.25 percent to 3.35 percent, while on deposits maturing in 31-45 days, the interest rate has been increased from 2.90 percent to 3.00 percent. The interest rate that the Central Bank of India will now pay on deposits maturing in 91 to 179 days has increased from 3.80 percent to 3.85 percent. FDs maturing between 180 and 364 days will now pay an interest rate of 4.40 per cent over 4.35 per cent. Whereas, FDs with maturities of 1 year and less than 2 years will now pay an interest rate of 5.25 percent. Earlier it was 5.20 percent.
Know FD Rates for Long Term
The Central Bank of India will continue to offer an interest rate of 5.30 per cent on deposits maturing in 2 years to 3 years and 5.35 per cent on deposits maturing in 3 years to less than 5 years. The Central Bank of India will continue to pay an interest rate of 5.60 per cent on long-term deposits with maturities of five years or more and up to ten years.
This bank is 111 years old
This is the National Bank. It has an extensive network in 28 Indian states and 7 out of 8 union territories of the country. The bank has a history of 111 years. It was established in 1911 and has 4,594 branches across the country.
