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Fixed Deposit Interest Rate Hike: These banks including SBI increased interest rates on fixed deposit, know who is giving how much return now

SBI, HDFC Bank and Kotak Mahindra Bank have increased interest rates on fixed deposits. Here we have told that now which bank is giving how much return on FD.

Fixed Deposit Interest Rate Hike: State Bank of India (SBI), HDFC Bank and Kotak Mahindra Bank have announced an increase in interest rates on fixed deposits a few days ago. Talking about SBI, the bank has increased the interest rates on fixed deposits (FD) by up to 10 basis points (bps). This new interest rate is for FDs of less than 2 crores. The new rate has come into effect from 15 January i.e. tomorrow. According to the data available on SBI’s website, the interest rate on fixed deposits for tenures ranging from 1 year to less than 2 years has been increased from 5.0 percent to 5.1 percent. However, there has been no change in the interest rates on FDs with other tenures.

SBI gives the highest interest of 5.40 percent on fixed deposits of 5-10 years tenor. The interest rate for FDs with tenures ranging from two years to less than three years is 5.10 per cent. At the same time, the interest rate for tenures ranging from 3 years to less than 5 years is 5.30 percent. At the same time, if we talk about senior citizens, then they get 50 basis points (bps) more interest.

SBI interest rates for different tenures

  • 7 days to 45 days – 2.9%
  • 46 days to 179 days – 3.9%
  • 180 days to 210 days – 4.4%
  • 211 days to less than 1 year – 4.4%
  • 1 year to less than 2 years – 5.1%
  • 2 years to less than 3 years – 5.1%
  • 3 years to less than 5 years – 5.3%
  • 5 years and up to 10 years – 5.4%

Kotak Mahindra Bank also increased interest rates

Kotak Mahindra Bank has also increased interest rates on fixed deposits (FDs) with varying tenures. As per the latest update, an interest rate of 2.5 per cent has been offered on FDs of 7 to 30 days, 2.75 per cent on FDs of 31 to 90 days and 3% on FDs of 91 to 120 days. The increased interest rates are applicable from 6 January 2022.

  • 7 – 14 days 2.50%
  • 15 – 30 days 2.50%
  • 31 – 45 days 2.75%
  • 46 – 90 days 2.75%
  • 91 – 120 days 3%
  • 121 – 179 days 3.25%
  • 180 days 4.3%
  • 181 days to 269 days 4.40%
  • 270 days 4.40%
  • 271 days to 363 days 4.40%
  • 7 – 14 days – 2.50%
  • 15 – 30 days – 2.50%
  • 31 – 45 days – 2.75%
  • 46 – 90 days – 2.75%
  • 91 – 120 days – 3%
  • 121 – 179 days – 3.25%
  • 180 days – 4.3%
  • 181 days to 269 days – 4.40%
  • 270 days – 4.40%
  • 271 days to 363 days – 4.40%
  • 364 days – 4.5%
  • 365 days to 389 days – 4.9%
  • 390 days – 5%
  • 391 days – less than 23 months – 5%
  • 23 months – 5.10%
  • 23 months 1 day – less than 2 years – 5.10%
  • 2 years – less than 3 years – 5.15%
  • 3 years and above but less than 4 years – 5.3%
  • 4 years and above but less than 5 years – 5.3%
  • 5 years and above and including 10 years – 5.3%

HDFC Bank also increased interest rates

HDFC Bank has also increased interest rates on fixed deposits (FDs). The increased interest rates are applicable from 12 January 2022. HDFC Bank has increased the rates only on certain tenures. FDs maturing in 2 years to 3 years will now get an interest of 5.20 percent. The bank has also increased the interest rates on deposits maturing in 3 years to 5 years. Interest of 5.40% will be available on these deposits. 5.60% interest will be given on deposits with tenures ranging from 5 years to 10 years. There has been no change in the interest rates of FDs with other tenures.

  • 7 – 14 days – 2.50%
  • 15 – 29 days – 2.50%
  • 30 – 45 days – 3%
  • 61-90 days – 3%
  • 91 days – 6 months – 3.5%
  • 6 months 1 day – 9 months – 4.4%
  • 9 months 1 day to less than 1 year – 4.4%
  • 1 year – 4.9%
  • 1 year 1 day – 2 years – 5%
  • 2 years 1 day – 3 years – 5.20%
  • 3 years 1 day – 5 years – 5.40%
  • 5 years 1 day – 10 years – 5.60%
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