State Bank of India, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, and Bank of Baroda have recently hiked their FD interest rates.
New Delhi: Most people’s investment strategies include a Fixed Deposit since they provide good returns on the money placed. Before opening an FD account, however, the investor should analyse the various interest rates offered by various banks.
State Bank of India, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, and Bank of Baroda have all recently increased their fixed deposit interest rates.
SBI FD Rates
The State Bank of India, India’s largest public sector bank, offers FDs with terms ranging from seven days to ten years. For normal consumers, the bank’s interest rates range from 2.9 percent to 5.5 percent, while senior citizens’ interest rates are 50 basis points higher.
The most recent rates go into effect on February 15, 2022.
HDFC Bank: FD rates
HDFC Bank, a private lender, has raised interest rates on fixed deposits of less than Rs 2 crore for certain tenures. For the general public, the bank now offers 2.50 percent to 5.60 percent rates on deposits maturing in 7 days to 10 years.
The most recent rates took effect on April 6, 2022.
ICICI Bank: FD interest rates
ICICI Bank is giving interest rates ranging from 2.50 percent to 5.60 percent on deposits maturing in 7 days to 10 years. These rates will be in effect beginning January 20, 2022.
Kotak Mahindra Bank: FD rates
Kotak Mahindra Bank has raised interest rates on FDs with maturities of less than Rs 2 crore. Interest rates on deposits maturing in 7 days to 10 years now vary from 2.50 percent to 5.60 percent after the most recent increase.
These will take effect on April 12, 2022.
Bank of Baroda: FD rates
With effect from March 22, the government-owned Bank of Baroda (BoB) increased the interest rates on fixed deposits for deposits of less than Rs 2 crore. For FDs maturing between 7 days and 10 years, the bank’s interest rates now vary from 2.80 percent to 5.55 percent.
