Fixed Deposit Interest Rate: After making it expensive, the major banks of the country are now focusing on increasing the Fixed Deposit Interest Rate as well. Banks have increased the interest on Fixed Deposit more than before. Recently, the country’s largest bank SBI had increased the FD rates, after which HDFC Bank had increased the fixed deposits. Now another bank has increased the rate of FD.
Yes Bank has changed the FD rate on investment of less than Rs 2 crore. After this amendment, now common citizens of Yes Bank will be given interest ranging from 3.25 per cent to 7.71 per cent on fixed deposits, while senior citizens will be given interest ranging from 3.75 per cent to 8 per cent. This hike is effective from 21 February 2023.
Yes Bank increased FD rates on these tenures
Yes Bank is paying 6% interest on Fixed Deposits for 181 days and 271 days. This interest will be 6.25 percent on maturity of 272 days. For the same, Yes Bank will give 7.25 percent interest rate for less than 1 year and 15 months, while for senior citizens this interest will be .50 percent more.
How much interest is being paid on SBI Fixed Deposit
SBI is paying 3% to 7.1% interest on Fixed Deposits with tenure ranging from 7 days to 10 years, which is for common citizens. On the other hand, senior citizens will get 50 bps point additional interest on this bank in tenure.
HDFC Bank Fixed Deposit Rates
HDFC Bank has also increased the interest rate on FDs of less than Rs 2 crore. Now HDFC Bank is giving interest ranging from 3% to 7.10% for the common people, while this bank is giving interest ranging from 3.50% to 7.60% to the senior citizens. These increased interest rates will be considered effective from February 21.
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