Bank FD: Higher FD interest rates, higher interest rates on certain banks Recognize specifics

 Bank FD: Higher FD interest rates, higher interest rates on certain banks Recognize specifics

Bank FD: Higher FD interest rates, higher interest rates on certain banks Recognize specifics

FD Rates: Private banks provide its clients with greater interest rates than do government banks. ICICI Bank is a private bank as well. which changed the FD rates for the general public and elderly persons, from Rs 2 crore to Rs 5 crore.

Investments in fixed deposits, or FD schemes, have long been common in the nation. In actuality, fixed-income plans promise security and set returns. Currently, a number of institutions are providing their FD programs with competitive interest rates.

In this instance, clients of private banks are receiving higher interest rates than those of government institutions. Among these private banks is ICICI Bank. which changed the FD rates for the general public and elderly persons, from Rs 2 crore to Rs 5 crore.

The new ICICI Bank FD rates are effective as of December 6, per the bank's website. For savings bonds due in seven days to 10 years, ICICI Bank provides interest rates ranging from 4.75 percent to 7.25 percent to both general and elderly people.

In addition, HDFC Bank raised the interest rates on FDs totaling more than Rs 5 crore. As of December 6, the bank's new FD rates are also in effect. However, the bank has also lately changed the interest rates on fixed deposits that are not withdrawn.

The Federal Bank already raised the rates on 500-day FD plans by 7.50% for both withdrawal and non-withdrawal options. The bank's new FD rates are effective as of December 5.

Government and commercial banks alike have updated the interest rates on their fixed-rate products. In doing so, the Bank of India raised the short-term FD program rates to 5.25 percent. For FD programs with durations ranging from three months to a year, the bank provides interest rates between six percent to seventy-five percent.