Central Bank of India and UCO Bank have revised interest rates on fixed deposit plans.
New Delhi: Central Bank of India and UCO Bank have revised interest rates the lenders offer to investors of fixed deposit plans. The revision in the interest rates has come after the Reserve Bank of India (RBI), earlier in the week, kept the repo and reverse repo rates unchanged.
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Both the banks announced the decision to revise the interest rates on fixed deposit plans, on Friday, February 11. The revised interest rates are applicable on fixed deposit investments worth up to Rs 2 crore. The rates are effective from February 10, 2022.
On its official website, the Central Bank of India noted that investors will now earn interest at annual rates of 2.75 per cent to 5.15 per cent, depending on the tenure of the plan.
Central Bank of India FD rates
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According to the Central Bank of India, investors can earn an interest rate of 2.75 per cent for FDs with a tenure between 7-14 days. On the other, investors can earn interest at a 2.90 per cent rate for term deposits between 13-45.
Meanwhile, the Central Bank of India’s fixed deposits with tenures between 45-90 days will fetch investors interest at a 3.25 per cent rate while deposits with tenure between 91-179 days will get an interest of 3.80 per cent.
UCO Bank FD rates
UCO Bank has mentioned in a statement that the revised interest rates are applicable on fixed deposits worth less than Rs 2 crore. FDs maturing in 1 to 3 years will give a maximum return of 5.10 per cent, the bank noted.
