Recently the repo rate was increased by RBI. This also led to an increase in the interest rates on FDs. A bank is now giving interest up to 8.15% to senior citizens.
New Delhi: Many banks have recently increased the interest rates on fixed deposits. Following the hike in fixed deposit rates, two banks today announced revision of their FD interest rates on Monday (August 22). Unity Small Finance Bank (USFB) has revised the interest rates on its non-callable bulk deposits with effect from 20 August 2022.
This bank is offering interest up to 7.1% on term deposits above Rs 2 crore with tenures of 2-3 years and 3-5 years. Under non-callable deposits, premature withdrawal is not allowed. The USFB said in a statement, “The interest on these deposits will be calculated on a quarterly compounded basis for deposits of tenor of 6 months and above.” Also, the bank further said that non-callable deposits are not for senior citizens. .
8.15% interest to senior citizens and benefits to people above 60 years of age
USFB had earlier revised its FD rates for retail investors with effect from 6 July 2022. It is currently offering 8.15% interest to senior citizens for a tenure of 2-3 years and 3-5 years. For customers below 60 years of age, USFB offers a maximum interest of 7.65% on FDs of 2-3 years and 3-5 years.
IDBI Bank New FD Rate
The bank is now offering the highest rate of 6.55% on select tenors. The bank has also introduced a limited tenor special 500 days deposit under the Amrit Mahotsav FD scheme, which offers a maximum rate of 6.70. Amrit Mahotsav offer is a limited offer available till 30th September, 2022.
ICICI FD Rate Revised
Last week, ICICI Bank revised fixed deposit rates for select tenors. The private sector bank has fixed rates between 5.50% and 6.10% on retail fixed deposits for one year to five years, with rates on one year deposits being 5.50%.
