Bank Released New FD Rates for 2024: ICICI-PNB and other big banks raised their FD interest rates; you can check the interest rate here

Bank Released New FD Rates for 2024: ICICI-PNB and other big banks raised their FD interest rates; you can check the interest rate here

Bank Released New FD Rates for 2024: ICICI-PNB and other big banks raised their FD interest rates; you can check the interest rate here

FD Rate Increase: As of the beginning of 2024, a number of the nation's major banks are providing their clients with the advantage of increased interest rates on FD schemes. Be aware of this.

Bank Fixed Deposit Rates: For those who want to invest in FD plans in the new year, there is excellent news. Numerous major banks in the nation have made the decision to raise interest rates on government-funded plans starting in 2024. On the occasion of the New Year, several banks have introduced special fixed deposit (FD) programs for its patrons, while others have raised the interest rates on their already-existing FD schemes. Tell us the extent to which the banks have chosen to raise interest rates.

Bank of India launched a unique FD programme.

It is the biggest public sector bank in the nation. In order to provide clients the advantage of greater interest rates on large deposits, Bank of India established the Super Special FD Scheme on the occasion of the New Year. Customers may profit from a 7.50 percent interest rate under this offer for a period of 175 days on deposits ranging from Rs 2 to Rs 50 crore. This plan went into effect on January 1, 2024.

This is the amount that PNB raised the interest rate.

Punjab National Bank has chosen to raise the interest rate on its savings account program for less than Rs 2 crore in addition to providing gifts to its clients on New Year's Day. On FDs with terms ranging from 180 to 270 days, the bank has declared an increase in FD rates of 50 basis points. Common people are benefiting from 6% interest throughout this term in such a scenario. Customers may also take advantage of a 45 basis point interest rate on FDs with terms ranging from 271 to 1 year. In this case, you are now being given a 7.25 percent interest rate on the sum placed during this time. In contrast, the interest rate on the 400-day FD program has changed from 6.80% to 7.25 percent. The revised tariffs become operative on January 1, 2024.

Also, State Bank of India offered clients a present for the new year.

The biggest public sector bank in India has made the decision to raise the interest rates on various duration FD programs. For deposit plans under Rs 2 crore, these rates have been raised. SBI is providing a fixed deposit program with a 7- to 45-day term that offers an interest rate of 3 to 3.50 percent. While it offers interest rates ranging from 4.5 percent to 4.75 percent on FD plans of 46 days to 179 days, it offers interest rates ranging from 5.25 percent to 5.75 percent on FD schemes of 180 days to 210 days. The bank hasn't changed the interest rates on the FD program for one to two years at the same time. General consumers also benefit from a 7.00 percent interest rate on FD schemes for two to three years, a 6.75 percent interest rate on schemes for three to five years, and a 6.50 percent interest rate on schemes for five to ten years.

Moreover, ICICI Bank raised interest rates on FD

In addition to raising interest rates, ICICI Bank, the biggest private sector bank in the nation, is also offering its clients presents for the New Year. The 389-day special FD scheme's interest rate was raised by the bank from 6.7 percent to 7.25 percent. In addition, the bank will now give 6.50% instead of 4.75% on FD schemes of 91 days to 184 days, 5.75% on FD of 185 days to 270 days, and 6% instead of 4.50% on FD schemes of 61 days to 90 days. The interest rate advantage has changed from 6.90 percent to 7.25 percent on FDs of 390 days to 15 months and from 6.70 percent to 7.25 percent on FDs of 5 to 10 years. The revised prices are effective as of January 3, 2023.

Additionally, Axis Bank raised the interest rate.

For the New Year, Axis Bank also gifted its clients higher interest rates on their FD plans. The revised tariffs were operative on December 26, 2023. For FD plans lasting one year to fifteen months, the bank is giving an interest rate of 7.10 percent. At the same time, the bank is offering programs with tenures less than 15 months interest rates ranging from 4.75 percent to 6 percent.

Additionally, Bank of Baroda offers greater interest on FD schemes.

Public banking institution, i.e. On December 29, Bank of Baroda also gave its clients a present of higher interest rates. For a duration of one to two years, the bank is providing an interest rate advantage of 6.85% on the FD program. On the other hand, the interest benefit on FD schemes lasting two to three years may reach 7.25 percent, and on schemes lasting three to ten years, it can reach 6.50 percent. Customers who use the Baroda Tricolor Plus Deposit Scheme may benefit from a 7.15 percent interest rate on 399 day fixed-term deposits at the same time.

Additionally, DCB Bank raised rate on FD

The list of banks that provide their clients with the advantage of higher interest rates under the FD program includes DCB Bank. With the FD plan of 12 months to 12 months and 10 days, the bank is providing the advantage of 7.85 percent interest rate instead of 7.15 percent.