At this time there is a good chance to earn interest on FD. All the banks of the country are announcing to increase the interest rates on fixed deposits every day. South Indian Bank has also increased interest rates on fixed deposits of less than ₹2 crore.
The official website of this private sector lender states that the bank’s new fixed deposit interest rates are effective from January 20, 2023. The bank is offering interest rate for deposits maturing in 7 days to 10 years which ranges from 2.65% to 6.00% for general public and 3.15% to 6.50% for senior citizens.
The bank is offering highest interest on deposits maturing in one year and one day. On this, the general public will get a maximum interest rate of 7% and senior citizens will get 7.50% interest.
South Indian Bank FD Rates
The bank is now offering an interest rate of 2.65% on deposits maturing in the next 7 to 30 days, while deposits maturing in the next 31 to 90 days will fetch an interest rate of 3.25%. South Indian Bank is now offering an interest rate of 4.25% on deposits of 91 to 99 days, and 5.50% on deposits of 100 days.
Deposits maturing in the next 101 to 180 days will now fetch 4.25% interest, while deposits maturing in the next 181 days to less than a year will now fetch 4.60%. On deposits maturing in 1 year, the bank is now offering an interest rate of 6.60% and on deposits maturing in 1 year and 1 day, South Indian Bank will now offer an interest rate of 7.00%.
South Indian Bank will now offer an interest rate of 6.50% on deposits of 1 year 2 days to less than 30 months and 7.00% on deposits of 30 months. Deposits with maturity of more than 30 months to less than 5 years will get an interest rate of 6.50% and deposits with maturity of 5 years to 10 years will get an interest rate of 6%.
This bank also increased the interest rate
City Union Bank has increased the interest rates on FDs of less than ₹ 2 crore. As per the official website of the bank, the new rates are effective from 18.01.2023. After the revision, the bank is now offering deposits maturing in 7 days to 10 years at 5.00% to 6.90% for general public and 5.00% to 7.25% for senior citizens. Apart from this, a maximum interest rate of 7.75% for general public and 8.00% for senior citizens will be available on the deposit period of 444 days.