Bank changes interest rates: Those who put money in FD have become happy at this time. Whether government or private, all banks are increasing the interest rates on Fixed Deposits.
Now another government bank has increased the rate on FD. Bank of India has increased the interest rates on FDs with a tenure of one year. The bank has increased the interest rate on this FD to 7 per cent. This rate hike has been done for retail customers on deposits of less than 2 crores.
You can get interest up to 7.65%
On FDs ranging from 7 days to 10 years, the bank is offering interest rates between 3 and 7 per cent to general customers. The bank is offering an interest rate of 7.50 per cent to senior citizens and 7.65 per cent to super senior citizens on one-year FDs. The enhanced interest rates are applicable on domestic, NRO and NRE deposits.
Fincare Bank is offering great FD rates
Small finance banks also offer very attractive interest rates on FDs. Fincare Small Finance Bank has changed the interest rates on deposits of less than Rs 2 crore (Fincare Small Finance Bank FD Rates). The new FD rates are effective from May 25. Now common citizens can get 8.51% interest rate on 1000 days FD.
9.11% interest rate for senior citizens
For 1000 days FD, the bank is offering senior citizens an interest rate of up to 9.11 per cent. The minimum deposit limit to get this interest rate on FD is Rs 5,000. Fincare Small Finance Bank is offering senior citizens an interest rate of 3.60 per cent to 9.11 per cent on FDs ranging from 7 days to 84 months.