FD will get interest up to 9.10 percent
FD Interest Rate: The Reserve Bank of India had cut the repo rate twice in a row in April after February. The Reserve Bank had reduced the repo rate by 0.25 percent on both these occasions, after which the repo rate had come down from 6.50 percent to 6.00 percent within 2 months. After the RBI reduced the repo rate, all the banks also reduced the interest rates of FD. However, a bank announced an increase in FD interest rates despite a 0.50 percent cut in the repo rate. Yes, sunrise small Finance Bank has increased the interest rates of Fixed Deposit by 41 basis points.
FD will get interest up to 9.10 percent
Sunrise Small Finance Bank has increased interest rates by 41 basis points for some special FDs. According to the bank’s press release, after this change, now general customers will get interest ranging from 4 percent to 8.60 percent on FD. Whereas, senior citizens will get interest ranging from 4.5 percent to 9.10% on FD. Sunrise Small Finance Bank will now give 8.60 percent interest to ordinary citizens on 5 years FD and 9.10 percent to senior citizens.
Big banks like SBI, HDFC reduced interest rates
Major banks like State Bank of India (SBI), HDFC Bank, ICICI Bank as well as small banks like Shivalik Small Finance Bank and Utkarsh Small Finance Bank have reduced the FD’s interest rates after the RBI reduced the repo rate, but the sunrise small Finance Bank is the only bank that has increased its FD rates.
Disclaimer: This article has been written only for the purpose of information. Before any type of investment or before taking financial risks, consult your financial advisor. India TV will not be responsible for any type of risk.
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