Fixed Deposit Rates Hike: Rising inflation in the country has broken the back of the common people. In such a situation, the Central Government and Reserve Bank of India are continuously taking big steps to control the inflation rate. In the review meeting of RBI held on 30 September, it has been decided to increase the repo rate for the fourth time in a row. Since then, all the banks are continuously increasing the interest rates of their deposit scheme i.e. Fixed Deposit or Saving Account. Now the names of two more banks have been included in this list. These banks are Yes Bank and the other is AU Small Finance Bank. Both the banks have decided to increase the interest rate on their FD scheme of less than Rs 2 crore.
Yes Bank increased the interest rate by how much-
After the change in the Yes Bank FD Rates, the bank is offering an interest rate of 6.75% to ordinary citizens on FDs of less than 2 crores. At the same time, the bank is offering 7.50% interest rate to senior citizens. The new rates have come into effect from 12 October 2022. The bank has launched a special FD scheme with tenors ranging from 20 months to 22 months. In this, ordinary citizens are getting 7.25% interest rate. On the other hand, senior citizens are getting a tremendous return of 7.75% on this period.
At the same time, the bank is giving a return of 3.25% to the customers on FDs of 7 to 14 days. Whereas 3.70% interest on 15 to 45 days FD, 4.10% on 46 to 90 days FD, 4.75% for 3 to 6 months, 5.50% for 6 to 9 months, 5.75% interest on bank FD scheme from 9 months to 1 year rate is offered. On the other hand, returns of 6.25% from 1 year to 18 months, 6.75% from 18 months to 20 months, 6.75% from 22 months to 36 months and 6.75% from 36 months to 10 years are available on Yes Bank FD.
AU Small Finance Bank increased the interest rate by how much-
Small Finance Bank i.e. AU Small Finance Bank (AU Small Finance Bank FD Rates) has also decided to increase by 60 basis points on its fixed deposit scheme of less than Rs 2 crore. These new rates have come into effect from 10 October 2022. Banks are offering interest rates ranging from 3.75% to 6.95% for general citizens. On the other hand, senior citizens are being offered interest rates ranging from 4.25% to 7.45%.
The bank is offering 3.75% interest rate on FDs of 7 to 1 month 15 days. Whereas 4.25% on 1 month 16 days FD to 3 month FD, 5.00% on 3 month to 6 month FD, 5.85% on 6 to 12 month FD, 7.10% on 12 to 15 month FD, 15 6.95% on FDs of months to 18 months, 7.50% on FDs of 24 months to 36 months, 7.50% on FDs of 36 months to 45 months, 6.95% on FDs of 45 to 60 months and 60 to 120 days The bank is offering 6.95% interest rate on FD.
These banks also increased their interest rates
Let us tell you that since the decision of RBI to increase the repo rate on 30 September, many banks in the country have decided to give higher interest rates on their fixed deposit schemes. In this, many banks including Canara Bank, IDFC First Bank, ICICI Bank, Axis Bank, HDFC Bank, Bank of Maharashtra increased FD rates. Is.
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