According to the bank’s data, it pays 2.75 percent interest on term deposits with a maturity of 7 to 14 days. The interest rate is 2.9 percent for a period of 15 to 45 days.
New Delhi: The Central Bank of India (CBI) has changed the interest rates on fixed deposits (FDs), which will take effect from June 10, 2022. The move occurred just one day after the Reserve Bank of India (RBI) raised the repo rate by 50 basis points to combat increasing inflation. Several banks have upped their interest rates on FDs and savings accounts in recent weeks.
According to the bank’s data, it pays 2.75 percent interest on term deposits with a maturity of 7 to 14 days. The interest rate is 2.9 percent for a period of 15 to 45 days. Interest is paid at a rate of 3.25 percent for periods of 46 to 90 days. On deposits of less than Rs 2 crore for a period of 5 to 10 years, the interest rate is the highest.
Read More: Bank FD: PNB vs ICICI Bank vs SBI; Check Detailed Comparison of Latest Interest Rates
Check the latest rates here:
Meanwhile, there are several other banks that have increased the FD rates. Check details below:
ICICI Bank
ICICI Bank, India’s second largest private bank, has raised the interest rates on its fixed deposits, or FDs, once again. The ICICI FD Interest Rate has been raised as of Tuesday, June 7. The current ICICI Bank FD interest rates apply to deposits of more than Rs 2 crore and less than Rs 5 crore.
Yes Bank
The interest rates on resident term deposits of less than 2 crore have been revised by Yes Bank, a private sector lender. The bank announced the change on June 6, 2022, and now offers deposits with terms ranging from 7 days to fewer than 10 years at an interest rate of 3.25 percent to 6.25 percent to the general public and 3.75 percent to 7.00 percent to senior persons.
IDFC First Bank
IDFC First Bank deposits with terms ranging from 7 days to fewer than 10 years at an interest rate of 3.50 percent to 6 percent to the general public and 4 percent to 6.50 percent to senior persons.
Punjab National Bank
Punjab National Bank deposits with terms ranging from 7 days to fewer than 10 years at an interest rate of 3.00 percent to 5.25 percent to the general public and 3.5 percent to 5.75 percent to senior persons.
