Special FD Rate: Do you want to get guaranteed income after a certain period by investing your savings in banks? If yes, then Fixed Deposit (FD) is the best option for you. Private sector lender South Indian Bank has increased the interest rates on FDs of less than Rs 2 crore. After this increase in interest rates, the bank is paying 2.65% to 6% interest to its general customers on FDs of 7 days to 10 years.
Maximum interest on 500 days special FD
While the bank is giving 3.15% to 6.50% interest to its senior citizen customers on the same time period. On the other hand, the bank is paying a maximum interest of 7.40% on special FDs of 500 days (SIB 94 Plus) to its general customers. While the bank is giving a maximum interest of 7.50% on FD of 1 year 1 day to its senior citizen customers. According to the information received from the official website of the bank, the increased new interest rates will be applicable from January 29.
Increased new FD rates of the bank After the increase in the interest rate, the bank will give its customers 2.65% on FDs of 7 days to 30 days, 3.25% on FDs of 31 days to 90 days, 4.50% on FDs of 91 days to 99 days and Will pay 5.50% interest on 100 days FD.At the same time, the bank will pay 4.25% on FDs of 101 days to 180 days, 4.60% on FDs of 181 days to less than 1 year, 6.60% on 1 year FDs and 7% on FDs of 1 year and 1 day.
On the other hand, the bank is getting 7.40% interest on FDs ranging from 1 year 2 days to 499 days, 6.50% on FDs of 500 days, 7.40% on FDs of 501 days to less than 30 months, 6.50% on FDs of 501 days to less than 30 months. 7% on FD, 6.50% on FD from 30 months to less than 5 years, 6% on FD from 5 years to less than 66 months, 6.50% on FD of 66 months and FD from 66 months to 10 years But will give interest of 6%.