Bank FD New Interest Rates: These banks' FD rates have changed significantly; be aware of the new interest rates

 Bank FD New Interest Rates: These banks' FD rates have changed significantly; be aware of the new interest rates

This week is the Reserve Bank's policy review, and several banks have already announced new rates for their FDs. The banks mentioned here include HDFC Bank, IDBI Bank, IndusInd Bank, etc.

Many banks have altered their fixed deposit rates even before the Reserve Bank's policy review. IndusInd Bank, Bank of India, and HDFC Bank are examples of this. The Reserve Bank's Monetary Policy Committee has been meeting since Wednesday, and the outcomes might be announced on Friday. The rates are anticipated to stay steady this time as well. Only after considering future indications did banks settle on the rates. understand the banks' revised FD rates

Bank HDFC

The two unique term deposits offered by HDFC Bank will now have different interest rates. These FDs have 35 or 55 month terms. In accordance with the bank, rates will be 6 percent for terms of nine months to less than one year, 6.6 percent for terms of more than one year but less than 15 months, 7.1 percent for terms of more than 15 months but less than 18 months, and 35 percent for terms of more than 18 months. For terms ranging from 18 months to 10 years, with the exception of 10 months and 55 months, 7 percent interest is being given. It is possible to get 7.15 percent for 35 months and 7.2 percent for 55 months. Senior folks will get an extra 0.5 percent.

Indian Bank

The rates for FDs under Rs 2 crore have been updated by the Bank of India. The bank now provides rates between 7 days and 10 years ranging from 3 to 7.25 percent. Senior people get an additional 0.5 percent. 3.5% for stays under 45 days, 4.5% for stays between 46 and 179 days, 5.5% for stays between 180 and 269 days, and 5.75% for stays of 270 days or fewer. For deposits between one year and 399 days, 6.5 percent is being provided; for deposits above 400 days, 7.25 percent. The maximum interest rate the bank will provide is the continuing rate for 400 days.

Bank IndusInd

Starting in October, IndusInd Bank will provide the highest interest rate possible—7.85 percent—for the time period of one year 6 to one year 7 months. The highest interest rate available to seniors is 8.25 percent, or between one and two years.