The three largest banks of the country have increased the interest rates on fixed deposits. Senior citizens will get handsome returns on FD.
Bank FD Rates: Recently the Reserve Bank of India (RBI) has increased the repo rate. After which many banks have made the loan expensive. On the other hand, interest rates on fixed deposits have been increased by many banks. Whose customers will be benefited. FD is considered a very effective way to save. Recently some banks have increased the interest rate on various Fixed Deposit schemes. HDFC Bank, ICICI Bank and Yes Bank are included in this list.
Yes Bank FD
Yes Bank has increased 25-50 bps on FDs of less than Rs 2. Rates have been increased from 3.25 per cent to 8 per cent. The new rates have also come into effect. Senior citizens will be more benefited. Senior citizens will get 8% interest on the scheme only for 35 to 36 months. On the other hand, ordinary citizens will get 7.50% interest. The rates for 1 year to 15 months scheme are 7.71% for senior citizens and 7.50% for general citizens.
ICICI Bank
ICICI Bank has also increased the interest on bulk FDs. The rates have been increased by 0.25 per cent. The bank has increased the interest rate for the second time in a month. Interest ranging from 4.75% to 7.15% is being received on FDs ranging from 7 days to 10 years. The maximum benefit will be to the customers on the 15-month plan.
HDFC Bank
HDFC Bank has also increased the interest rates. The rates have been increased by 0.25 per cent. Ordinary citizens will get interest ranging from 3 per cent to 7.10 per cent on various fixed deposit schemes. The new rates have come into force a few days back.
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