Wednesday, November 29, 2023

People making bank FDs be careful! these 4 banks have made major changes

Numerous banks changed the interest rates on fixed deposits in September. If you are considering obtaining a bank FD this month as well, you should absolutely examine the updated rates first. Check whether the bank offers larger interest rates for making FDs in addition to this. Verify which 4 banks have modified their FD rates.


The interest rates on fixed deposits have been updated by IDBI Bank.

The new bank policies went into effect on September 15, 2023. For regular people, interest rates on FDs with terms ranging from seven days to ten years are offered from 3% to 6.80%. In addition, older persons receive interest at a rate ranging from 3.50% to 7.30%.


The interest rates on a few FDs with terms smaller

than two crore rupees have altered at Axis Bank. The FD rate at Axis Bank has been lowered by 50 basis points. Beginning on September 15, the bank’s new rates will be in effect. Following the change, Axis Bank now offers interest rates for terms ranging from 7 days to 10 years that range from 3% to 7.10%.


For loans under Rs 2 crore, Kotak Mahindra Bank

has reduced the interest rates. The new prices are effective as of September 13. The bank offers regular people interest rates ranging from 2.75% to 7.25%. Senior citizens are also provided interest at a rate ranging from 3.25% to 7.75% at the same time. In addition, the interest rate on the tenure of 23 months has been increased by 25 bps from 7.20 to 7.25%.


For a few instances, Yes Bank altered the interest rates on FDs with deposits under Rs 2 crore. Following the change, the bank now offers regular people interest at a rate ranging from 3.25% to 7.75%. Yes Bank offers senior citizens interest rates ranging from 3.75% to 8.25%, per the bank’s website. Revisions to the bank’s FD rates take effect on September 4, 2023.

Read More: Australia fears these Indian Players! One dropped from World Cup 2023

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