Fixed Deposits are among the best strategies to save money. According to the plan, the money is deposited for a specific time, and the bank pays interest. In January, many banks raised their lending interest rates. Many banks have also raised interest rates on FD plans simultaneously. Additionally, numerous banks changed their rates this week. Along with IDFC First Bank and RBL Bank, other banks on the list include Small Finance Bank, Jammu Kashmir Bank, and IDFC First Bank. For various tenures, the interest rates will also vary.
RBL Bank changes FD interest rates.
The interest rate has changed at this bank. Interest rates for FDs will now range from 3.25 percent to 6.25 percent for terms of 7 days to 10 years. The revised prices are in effect as of January 11. On FDs with terms ranging from 453 to 725 days, the bank is offering 7.55 percent interest. On the 241–364 day plan, interest is paid at a rate of 5.5 percent. Senior citizens, however, receive additional advantages. On FDs with terms ranging from 726 days to 60 months, 7% interest is paid.
J&K Bank also made the change
One of the nation's oldest banks is this one. The interest rates on fixed deposits have recently been raised. The interest rate for FDs under Rs 2 crore has increased by 75 basis points. On FDs lasting between one year and less than 18 months, a maximum interest rate of 7.25% is paid. Additionally, the higher rates went into effect on January 11th.
IDFC First Bank New Interest Rates.
The interest rates on large deposits up to Rs. 2 crores were raised at this bank. The revised prices are in effect as of January 13. On FDs with maturities from 7 days to 10 years, interest rates of 5.30% to 7.30% are paid. Additionally, 7.55 percent interest is being paid on the 366-to-399-day plan. On FDs between 7 and 35 days, a benefit of 5.30 percent is offered concurrently.