If you shy away from investing in the market and want to make a safe investment, then making a fixed deposit in a bank is the best option for you. Before depositing money in the bank, it is important to see how much interest you are going to get on your money. The interest rates on deposits in banks are very low. But, to attract people, banks have started increasing the interest rates on FDs.
Recently, three banks have increased the interest rates on FD. Banks like State Bank of India (SBI), HDFC Bank (HDFC Bank) and Bank of Baroda (BOB) have recently increased the interest rates on FDs. You will get the highest interest rates on FD in these banks.
Kotak Mahindra Bank
Kotak Mahindra Bank has announced an increase in interest rates on FDs of less than Rs 2 crore. According to the website of this bank, the new rates have come into effect from 12 April 2022. Now Kotak Bank is giving an interest rate of 2.50 percent to 5.60 percent on FDs from 7 days to 10 years.The complete list is as follows-
7 – 14 days 2.50 percent,15 – 30 days 2.50 percent, 31 – 45 days 2.75 per cent,46 – 90 days 2.75 percent, 91 – 120 days 3.00 percent,121 – 179 days 3.50 percent, 180 days – 4.50 percent,181 days to 269 days 4.50 percent, 270 days – 4.50 percent, 271 days to 363 days – 4.50 percent, 364 days – 4.75 percent, 365 days to 389 days – 5.10 percent,390 days (12 months 25 days) – 5.2%, 391 days – less than 23 months 5.2%.23 months – 5.25 percent,23 months 1 day – less than 2 years – 5.25 percent, 2 years – less than 3 years – 5.3%, 3 years and above but less than 4 years – 5.45 per cent,4 years and above but less than 5 years – 5.50 per cent,5 years and above and up to 10 years – 5.60 per cent.
HDFC Bank:Private sector bank HDFC has also announced an increase in interest rates on FDs of less than 2 crores. The new interest rates of this bank have been implemented from 6 April 2022. HDFC Bank is offering 2.50 percent to 5.60 percent interest for the general public on FDs ranging from 7 days to 10 years.
7 – 14 days – 2.50 percent,15 – 29 days – 2.50 percent, 30 – 45 days – 3.00 percent, 61 – 90 days – 3.00 percent,91 days – 6 months – 3.5%, 6 months 1 day – 9 months – 4.4%,9 months 1 day but less than 1 year – 4.4%,1 year – 5.10 percent,1 year 1 day – up to 2 years – 5.10 percent,2 years 1 day – up to 3 years – 5.20 percent,3 years 1 day – up to 5 years – 5.45 percent,5 years 1 day – up to 10 years – 5.60 percent.
Bank Of Baroda: State-run Bank of Baroda (BOB) has increased interest rates on fixed deposits (FDs) of less than Rs 2 crore from March 22. After the increase in interest rates, the FD interest rates of Bank of Baroda for 7 days to 10 years have gone up from 2.80 percent to 5.55 percent. The interest rates are as follows-
7 days to 14 days – 2.80 percent,15 days to 45 days – 2.80 percent, 46 days to 90 days – 3.70 percent, 91 days to 180 days – 3.70 percent, 181 days to 270 days – 4.30 percent,271 days and above and less than 1 year – 4.40 per cent,1 year – 5.00 percent,400 days above 1 year – 5.20 percent.
