FD Latest Interest Rate Last month, State Bank of India had increased the interest rates of FD. After this increase, many banks of the country have also updated their interest rates. If you are also thinking of investing in FD, then you should check in which bank you will get more benefits by taking FD. Read the full news..
In today’s time, FD is a very good option for secure investment. People who want to invest without risk can invest in fixed deposits . The bank charges interest on the amount deposited in FD. The bank revises these interest rates from time to time.
Last month, on December 2023, State Bank of India (SBI) has updated the interest rate of FD. After this, many banks like Bank of Baroda, Kotak Mahindra Bank, Union Bank, Federal Bank etc. have updated their FD interest rates. If you are also going to invest in FD , then you should check which bank is offering what interest rate to the customer.
Bank of Baroda
Bank of Baroda has decided to increase FD interest rates. The bank has increased the rates on FD by 10 basis points. The latest FD rates of Bank of Baroda range from 4.25 percent to 7.25 percent. Whereas for senior citizens this rate is 4.75 percent to 7.75 percent. The bank has updated the rates of FD with tenure of 7 days to 10 years.
State Bank of India
State Bank of India has updated the interest rates on FD up to Rs 2 crore. These new rates have come into effect from 27 December 2023. FD interest rates for general customers range from 3.5 percent to 7 percent. At the same time, these interest rates for senior citizens have been increased by an additional 50 basis points.
Union Bank
Union Bank has increased FD interest rates by 25 basis points. The bank has revised the interest rates on FDs up to Rs 2 crore. The new rates have come into effect from 27 December 2023. Now interest on FD can range from 3 percent to 7.25 percent.
Kotak Mahindra Bank
Kotak Mahindra Bank has revised the interest rates on FDs with tenure of 3 to 5 years. After the update of FD rates, General offers the customer interest rates ranging from 2.75 percent to 7.25 percent on FDs of 7 days to 10 years. Whereas, senior citizens get interest ranging from 3.35 percent to 7.80 percent.
Federal Bank
The new interest rate updated by the Federal Bank has come into effect from December 5, 2023. Banks now offer 7.50 percent interest rate on 500 day FD and 8.15 percent interest rate to senior citizens. At the same time, senior citizens get 7.80 percent interest on FD with tenure of 21 months.
