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FD Rates Hiked: This Government Bank Hiked Its Fixed Deposit Rate! Know how much interest you will get

Central Bank FD Rates Hike: Central Bank of India has increased the rates of fixed deposits (Central Bank FD Rates). The bank has decided to increase its interest rates on deposits (FD rates) of less than Rs 2 crore. These new rates have come into effect from 10 August 2022. The bank offers FDs to its customers with tenures ranging from 7 days to 555 days.

In this, interest rates ranging from 2.75% to 5.55% are offered to the customers. Apart from the Central Bank, the country’s largest bank State Bank has also increased by 15 basis points on FDs of less than 2 crores of different tenors. If you are planning to do FD in Central Bank, then we are also giving you information about the interest rates offered by the bank-

Central Bank is giving this interest on its FD (less than 2 crores)-

    • 7-14 days-2.75%
    • 15-30 days-2.90%
    • 31-45 days-3.00%
    • 46-59 days-3.35%
    • 60-90 days-3.35%
    • 91-179 days-3.85%
    • 180-270 days-4.50%
    • 271-364 days-4.50%
    • 1-2 years-5.35%
    • 2-3 years-5.40%
    • 3-5 years-5.40%
    • 5-10 years-5.60%
    • 555 days-5.55%

These banks also increased FD interest rate-
Apart from the Central Bank, the interest rates of FDs of State Bank (SBI), Axis Bank, Bandhan Bank, Canara Bank, Indian Overseas Bank have been increased. Recently, to control the rising inflation in the country, the Reserve Bank has increased its repo rate. At present the repo rate is 5.40%. Even before this, in the month of May and June, RBI has increased the repo rate twice.

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