Fixed Deposit: Which bank of the country gives the highest interest? More than half a dozen banks hiked FD rates in first week

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to curb inflation Fixed deposit from May 2022 due to continuous increase in repo rate by RBI Interest rates are increasing continuously. In the financial year 2022, the repo rate has been increased five times in a row since May. The Reserve Bank of India has increased rates by 2.25 per cent between May and December. In the policy meeting of December, RBI has increased the repo rate to 6.25 percent. India’s retail inflation eased to 5.88 per cent in November 2022 from 6.77 per cent in October 2022, the lowest level since December last year. Investors are excited by the increase in interest rates on fixed deposits. The increase in the repo rate has accelerated for the fifth consecutive time. Some economic analysts predict that RBI may announce another hike in February 2023. However, some banks have increased interest rates on fixed deposits of less than Rs 2 crore in the first week of January 2023.

PNB Punjab National BankPunjab National Bank

Punjab National Bank (PNB) on January 1 announced a hike in interest rates on savings accounts and fixed deposits. PNB has increased the savings account interest rate by 25 basis points on the outstanding amount. The bank has increased the interest rate on fixed deposits by 50 basis points for maturity limits of loans of Rs 100 crore or more.

Indian Overseas Bank

Indian Overseas Bank (IOB) announced an increase of 75 basis points on FDs of 7 to 90 days on January 1. The bank is currently offering a maximum interest rate of 6.55 per cent on FDs of 444 days. The additional rates for senior citizens and very senior citizens remain at 0.50 per cent and 0.75 per cent, respectively.

Punjab And Sind Bank

Punjab and Sind Bank had announced to increase the interest rate on FDs on January 1. The bank is currently offering interest rates ranging from 2.80 per cent to 6.25 per cent on FDs ranging from 7 days to 10 years. While Punjab and Sind Bank gives a maximum interest of 7% only for 601 days FD.

bandhan bank

bandhan bank

Bandhan Bank has increased the interest rates on FDs on 5 January 2023. For deposits maturing in 7 days to 10 years, the bank currently offers interest rates ranging from 3% to 5.85% for non-senior citizens and 3.75% to 6.60% for senior citizens. On FDs of 600 days (1 year, 7 months, 22 days), the bank offers a maximum interest rate of 7.50 per cent for general public and 8 per cent for senior citizens.

Kotak Mahindra Bank

Kotak Mahindra Bank has increased the interest rate on FDs by 50 bps on January 4, 2023. At the same time, on FDs ranging from 390 days to less than two years, an interest rate of 7 per cent is offered to the general public and a maximum of 7.50 per cent to senior citizens.

Karnataka Bank

The new FD interest rates of Karnataka Bank are effective from January 1, 2023. The bank is currently offering 5.25 per cent to 5.80 per cent interest on FDs ranging from 7 days to 10 years. Karnataka Bank is now offering a maximum interest rate of 7.30 per cent to the general public and 7.70 per cent to senior citizens on 555-day FDs.

Kotak Mahindra Bank and Yes Bank released results, know how was the quarterly performance

yes bank

Yes Bank has revised the interest rate for FDs below Rs 2 crore on January 3, 2023. For FDs ranging from 7 days to 120 months, the bank is now offering interest rates that are 3.25 per cent for the general public and 7 per cent. 3.75 percent to 7.75 percent interest rate has been kept for senior citizens. Yes Bank is now offering a maximum interest rate of 7.50 per cent for general public and 8 per cent for senior citizens on special FDs of 30 months.

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