different tenures - Rightsofemployees.com https://www.rightsofemployees.com Know Your Rights Thu, 29 Dec 2022 06:05:40 +0000 en-US hourly 1 https://wordpress.org/?v=7.0.4 https://www.rightsofemployees.com/wp-content/uploads/2018/01/cropped-emp1-32x32.png different tenures - Rightsofemployees.com https://www.rightsofemployees.com 32 32 Fixed Deposit: Kotak Mahindra Bank increased interest rates on FD, new rates applicable from today https://www.rightsofemployees.com/fixed-deposit-kotak-mahindra-bank-increased-interest-rates-on-fd-new-rates-applicable-from-today/ Thu, 29 Dec 2022 06:05:40 +0000 https://www.rightsofemployees.com/?p=9113 Fixed Deposit Interest Rate: Leading private sector bank Kotak Mahindra Bank has increased the interest rates on fixed deposits (FD). The bank has increased interest rates on FDs of less than Rs 2 crore to 7 per cent for general investors and 7.50 per cent for senior citizens. According to the official website of the […]

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]]> Fixed Deposit Interest Rate: Leading private sector bank Kotak Mahindra Bank has increased the interest rates on fixed deposits (FD). The bank has increased interest rates on FDs of less than Rs 2 crore to 7 per cent for general investors and 7.50 per cent for senior citizens.

According to the official website of the bank, the new rates have come into effect from today, December 28, 2022. Let us know what is the interest rate on FDs of different tenures.

What are the interest rates for different tenures

The interest rate on FDs of 7 to 24 days is 2.75%. At the same time, FDs of 15 to 30 days will get a return at the rate of 3%. 3.24% return will be available on FD of 31 days to 45 days. Apart from this, the interest rate on FDs of 46 days to 90 days is 3.50 per cent.

INTEREST RATES FOR DOMESTIC / NRO / NRE FIXED DEPOSITS – PREMATURE WITHDRAWAL ALLOWED
INTEREST RATES FOR Domestic / NRO / NRE FIXED DEPOSITS effective from 28th Dec 2022. (Rates are subject to change from time to time)
Regular Senior Citizen*
Maturity Periods – Premature Withdrawal Allowed Less than Rs.2 Crore# Annualised Yield Less than Rs.2 Crore# Annualised Yield
7 – 14 Days 2.75% 2.75% 3.25% 3.25%
15 – 30 Days 3.00% 3.00% 3.50% 3.50%
31 – 45 Days 3.25% 3.25% 3.75% 3.75%
46 – 90 Days 3.50% 3.50% 4.00% 4.00%
91 – 120 Days 4.00% 4.00% 4.50% 4.50%
121 – 179 days 4.25% 4.25% 4.75% 4.75%
180 Days 5.75% 5.75% 6.25% 6.25%
181 Days to 269 Days 5.75% 5.83% 6.25% 6.35%
270 Days 5.75% 5.83% 6.25% 6.35%
271 Days to 363 Days 5.75% 5.83% 6.25% 6.35%
364 Days 6.00% 6.09% 6.50% 6.61%
365 Days to 389 Days 6.75% 6.92% 7.25% 7.45%
390 Days (12 months 25 days) 7.00% 7.19% 7.50% 7.71%
391 Days – Less than 23 Months 7.00% 7.19% 7.50% 7.71%
23 Months 7.00% 7.19% 7.50% 7.71%
23 months 1 Day- less than 2 years 6.50% 6.66% 7.00% 7.19%
2 years- less than 3 years 6.40% 6.56% 6.90% 7.08%
3 years and above but less than 4 years 6.30% 6.45% 6.80% 6.98%
4 years and above but less than 5 years 6.25% 6.40% 6.75% 6.92%
5 years and above upto and inclusive of 10 years 6.20% 6.35% 6.70% 6.87%
Fixed Deposits Interest Rates for Domestic/ NRO / NRE effective from 29th Dec 2022. (Rates are subject to change from time to time)
Maturity Period – Premature Withdrawal Allowed Rs. 2 Crore & above but below Rs. 5 Crores # Rs. 5 Crores & above but below Rs. 10 Crores # Rs. 10 Crores & above but below 25 Crores # Rs. 25 Crores & above #
7 – 14 Days 3.75% 4.25% 4.25% 4.25%
15 – 30 Days 3.75% 4.75% 4.75% 4.75%
31 – 45 Days 4.50% 5.25% 5.25% 5.25%
46 – 60 Days 4.75% 5.50% 5.50% 5.50%
61 – 90 Days 5.25% 5.75% 5.75% 5.75%
91 – 120 Days 5.50% 6.40% 6.40% 6.40%
121 – 179 Days 5.75% 6.40% 6.40% 6.40%
180 Days 6.25% 6.50% 6.50% 6.50%
181 Days to 270 Days 6.35% 6.60% 6.60% 6.60%
271 Days to 279 Days 4.50% 5.00% 5.00% 5.00%
280Days ‐ 364 days 6.50% 6.85% 6.85% 7.00%
365 days ‐ Less Than 15Months 7.00% 7.15% 7.35% 7.40%
15 months – less than 18 months 7.00% 7.15% 7.30% 7.30%
18 months – less than 2 Years 7.00% 7.00% 7.00% 7.20%
2 years and above but less than 3 years 6.60% 6.80% 6.80% 7.00%
3 years and above but less than 4 years 6.30% 6.50% 6.50% 6.50%
4 years and above but less than 5 years 6.25% 6.40% 6.40% 6.40%
5 years and above upto & inclusive of 7 years 6.25% 6.25% 6.25% 6.25%

Returns up to 7.50% for senior citizens

Under the increase in interest rates, common investors will get 7 percent interest on FDs of 390 days, 391 days to less than 23 months and 23 months. At the same time, senior citizens will get up to 7.50% return on FDs of these periods.

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]]> Bank FD Increased: Interest increased on bank FD, know full details https://www.rightsofemployees.com/bank-fd-increased-interest-increased-on-bank-fd-know-full-details/ Fri, 23 Dec 2022 06:28:12 +0000 https://www.rightsofemployees.com/?p=8810 The customers who have FD in the bank have got a big gift of increasing interest rate. NBFC Bajaj Finance has increased the interest rate by 25 basis points. The new interest rates have come into effect from December 22 on FDs with a tenure of 12 months to 24 months. According to the information […]

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]]> The customers who have FD in the bank have got a big gift of increasing interest rate. NBFC Bajaj Finance has increased the interest rate by 25 basis points.

The new interest rates have come into effect from December 22 on FDs with a tenure of 12 months to 24 months. According to the information available on the company’s website
, the new interest rate is applicable on FDs ranging from Rs 15,000 to Rs 5 crore.

For non-senior citizens, the interest rate on FD for 15 months is 7.20 percent, 7.25 percent for 18 months, 7.35 percent for 22 months, 7.30 percent for 30 months, 7.30 percent for 33 months, 7.60 percent for 39 months and Will be 7.70 percent for 44 months.

Rates of interest on different tenures

This is a cumulative interest rate, which means that the interest will be paid simultaneously on maturity. Apart from this, the interest rate on FD for 12-23 months is 7.05 percent, 7.50 percent for 24 months, 7.25 percent for 25-35 months and 7.50 percent for 36-60 months.

At the same time, senior citizens i.e. senior citizens above 60 years of age will get 7.45% on FD for 15 months, 7.50% for 18 months, 7.60% for 22 months, 7.55% for 30 months, 7.55% for 33 months, 7.85 percent interest is being given for 39 months and 7.95 percent for 44 months . Senior citizens will get 7.30 per cent interest on term deposits of 12-23 months, 7.75 per cent for 24 months, 7.50 per cent for 25-35 months and 7.75 per cent for 36-60 months.

Understand the calculation of interest on FD of 5 lakhs

If a senior citizen makes an FD of 5 lakh rupees for 44 months, then on completion of the fixed deposit period, he will get a total of 6.62 lakhs including interest. The share of interest in this will be Rs 1.62 lakh. While non-senior citizens will get a total of Rs 6.56 lakh on an FD of Rs 5 lakh in the same period. The amount of interest in this will be Rs 1.56 lakh.

Let us tell you that bank FD is a popular and safe option for investment in India. Every person wishes for a safe investment through bank fixed deposits. Due to continuous increase in interest rates by RBI in the last few months, banks and NBFCs have also increased the interest rate on savings schemes.

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