These two banks increased FD interest rates, customers are getting returns of up to 8.80%

FD Rates Hike: To control inflation in India, the Reserve Bank of India is continuously increasing its interest rates. Its effect is also visible now. The country’s inflation rate has come down to an 11-month low in November. In order to give relief to the people from inflation on the new year, the RBI has once again increased its repo rate in its meeting on December 7, 2022.

This year the repo rate of RBI has increased by 4.00 percent to reach 6.25 percent. RBI has increased its interest rates by 35 basis points for the last time. The increase in the interest rates of RBI is affecting the customers of the bank. While on one hand banks are increasing their FD interest rates, on the other hand bank loans are also getting costlier.

These two banks increased the interest rate on FD

Large private sector bank i.e. ICICI Bank (ICICI Bank FD Rates) has increased the interest rates of its FDs. Along with this, Jana Small Finance Bank, another small finance bank of the country, has also increased the interest rates of its FDs.

Customers of Jana Small Finance Bank are getting returns of up to 8.80% on deposits of less than 2 crores. Senior citizen customers are getting this interest. At the same time, ordinary citizens are getting returns of up to 7.85 percent. Let us know how much return these banks are getting to the customers and since when these rates have been implemented-

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ICICI Bank’s interest rate on FD of less than 2 crores-

ICICI Bank has recently increased the interest rate on FDs of less than 2 crores. The bank is offering interest rates ranging from 3.00% to 7.00% on FDs ranging from 7 days to 10 years to ordinary citizens. At the same time, the bank is offering interest rates ranging from 3.50 percent to 7.50 percent to senior citizens. These rates have come into effect from 16 December 2022. Let’s know the details-

• 7 to 29 days FD – 3.00 percent
• 30 to 45 days FD – 3.50 percent
• FD of 46 to 60 days – 4.00 percent
• 61 to 90 days FD – 4.50 percent
• FD of 91 to 184 days – 4.75 per cent
• FD of 185 to 289 days – 5.50%
• FD up to 1 year – 5.75 percent
• FD of 1 year to 15 months – 6.60 percent
• FD from 15 to 5 years – 7.00 percent
• FD from 5 years to 10 years – 6.90 percent

Interest rate on FD of Jana Small Finance Bank below 2 crores-

Jana Small Finance Bank has decided to increase FDs of less than 2 crores. The bank is offering interest rates ranging from 3.75 per cent to 6.00 per cent on FDs ranging from 7 days to 10 years. The bank is offering a maximum interest rate of 7.85 percent to general citizens and 8.80 percent to senior citizens. Let us know how much interest the bank is offering on different periods.

• FD of 7 to 14 days – 3.75%
• 15 to 60 days FD – 4.25 percent
• 61 to 90 days FD – 5.25 percent
• FD of 91 to 180 days – 5.50 percent
• FD of 181 to 364 days – 7.00%
• 1 year FD – 7.25 percent
• FD of 1 to 2 years – 7.50 percent
• FD for 2 to 3 years – 7.85 percent
• FD of 3 to 5 years – 7.35 percent
• 5 year FD – 7.25 percent
• FD from 5 to 10 years – 6.00 percent

These banks also increased the interest rate

Many banks have increased their FD rates since the increase in the repo rate of Jarv Bank. The names of these banks are the names of many banks like State Bank of India, Kotak Mahindra Bank, HDFC Bank. Apart from this, many banks like SBI, Canara Bank etc. have also increased the interest rates of their loans.

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