Monday, November 28, 2022
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This small finance bank is giving tremendous returns on FD to its customers! Know Latest Rates

Utkarsh Small Finance Bank FD Rates: The process of increasing FD interest rates by banks in the country continues. This includes Public Sector Banks, Private Sector Banks and Small Finance Banks. Recently, another small finance bank has decided to increase the interest rates of its fixed deposits. This bank is Utkarsh Small Finance Bank. The bank has decided to increase the interest rate in its FD scheme up to Rs 2 crore. These new rates have been implemented from 25 July 2022.

Let us tell you that in view of the inflation of the country in the months of May and June, the Reserve Bank of India has increased its repo rate after two times. Earlier the repo rate was 4 percent which has now increased to 4.90 percent. In such a situation, it has a direct impact on the interest rates of the bank and the EMI of the loan. Almost all the banks have decided to increase the interest rates on their deposit schemes like FD scheme, savings scheme and RD scheme. If you are also thinking of doing FD in Utkarsh Small Finance Bank, then we tell you about the interest rate offered by this bank on different tenures-

Interest accrued to ordinary citizens on FD of Rs 2 crore-

    • 7 to 45 days-4.00%
    • 46 to 90 days-4.25%
    • 91 to 180 days -5.00%
    • 181 to 364 days-6.00%
    • 365 to 699 days-7.15%
    • 700 to 5 years -7.25%
    • 5 to 10 years – 6.25%

 

Interest accrued to senior citizens on FD of Rs 2 crore-

    • 7 to 45 days-4.50%
    • 46 to 90 days -4.75%
    • 91 to 180 days-5.50%
    • 181 to 364 days -6.50%
    • 365 to 699 days – 7.65%
    • 700 to 5 years-7.75%
    • 5 to 10 years – 6.75%

RBI may increase the repo rate,
Let us tell you that on August 5, RBI can announce an increase in the repo rate once again. In fact, in the first week of August, the RBI’s Monetary Policy Committee meeting is going to be held between August 3 and 5. In such a situation, it is believed that the central bank can announce an increase of 25 to 50 basis points in the repo rate. In such a situation, the burden of loan EMI will increase on the people. Along with this, the interest received on the deposit scheme will also increase.

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