After HDFC Bank, now this big private sector has increased the interest rates of FD again, read details here

FD Rates Hike: The Reserve Bank of India has increased its repo rate for the fifth time in a row. Since this increase, many banks are continuously increasing their loan interest rates and repo rates. Recently, on December 7, 2022, the Reserve Bank of India has decided to increase its repo rate once again in its Monetary Policy meeting (RBI Monetary Policy). This time the bank has increased by 35 basis points. Now the RBI (RBI) repo rate has increased to 6.25 percent. Due to this increase, the burden of loan EMI is increasing on the people. Along with this, more returns are being received on deposit schemes like FD scheme and savings account.

Recently, the country’s largest private sector bank HDFC Bank has increased the interest rates of its FDs. These rates have been increased on deposits of less than 2 crores. The new rates have come into effect from December 14, 2022. After this, now another bank has increased its FDs of less than 2 crores. This bank is Kotak Mahindra Bank. This bank has increased the repo rate a total of three times after the increase in the repo rate of RBI. The new rates have come into effect from December 15. Earlier, on December 10 and December 14, 2022, the bank had also increased the interest rate of its FDs. Let us know now how much interest rate Kotak Mahindra Bank is offering to its customers.

Know about the new FD interest rates of Kotak Mahindra Bank-

• FD of 7 to 14 days – 2.75%
• FD of 15 to 30 days – 3.00%
• 31 to 45 days FD – 3.25 percent
• FD of 46 to 90 days – 3.50 percent
• FD of 91 to 120 days – 4.00 percent
• FD of 121 to 179 days – 4.25%
• FD of 180 to 363 days – 5.75%
• 364 day FD – 6.00%
• FD of 365 to 389 days – 6.75%
• FD from 390 to 23 months – 7.00 percent
• FD from 23 months 1 day to 2 years – 6.50%
• FD of 2 to 3 years – 6.40 percent
• FD from 3 years to 4 years – 6.30 percent
• FD for 4 to 5 years – 6.25 percent
• FD from 5 to 10 years – 6.20 percent

Know about HDFC Bank’s new FD interest rates-
HDFC Bank (HDFC Bank FD Rates) has also increased the interest rate on its FDs of less than 2 crores. According to the information given on the official website of the bank, the new rates have come into effect from December 14, 2022. The bank is offering 3.00 per cent to 7.00 per cent interest rate to ordinary citizens on FDs ranging from 7 days to 10 years. Know about the interest rate available on different periods-

News Reels

• 7 to 29 days FD – 3.00 percent
• 30 to 45 days FD – 3.50 percent
• FD from 46 days to 6 months – 4.50%
• FD from 6 months to 9 months – 5.75%
• FD from 9 months to 1 year – 6.00 percent
• FD from 1 year to 15 months – 6.50 percent
• FD from 15 months to 10 years – 7.00 percent

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