New interest rates applicable from March 1
According to the report, the changed interest rates on FDs will be applicable from March 1. It said that these changes in interest rates will be applicable on fixed deposit investments of less than Rs 2 crore. According to the information provided on the bank’s website, under the new change, interest at the rate of 2.90 percent will be given on FDs maturing in 7 to 45 days, while 3.90 percent on FDs maturing in 46 days to 90 days. The rate of interest will be paid. Apart from this, 4.40 percent interest will be given on FDs of 2 to 3 years and 5.20 percent on tenure of 180 days or less.
Senior citizens benefit more
Looking at other tenor FDs, Canara Bank will offer 5.20 per cent interest on FDs of more than 2 years but less than 3 years, 5.45 per cent instead of 5.25 per cent for fixed deposits with tenure of more than 3 years but less than 5 years will get. Apart from this, the bank will give 50 basis points more interest on FD investments made by senior citizens. It is worth noting that a maximum of 25 basis points has been increased for the fixed deposit slab of 5 to 10 years and the interest rate has gone up to 5.5 per cent.
Other banks are giving so much profit
Let us inform that before Canara Bank, many banks including SBI-HDFC have changed the interest rates available in FD, giving relief to the customers. HDFC had increased interest rates by 5 to 10 basis points on FDs of less than Rs 2 crore. Which are effective from 14 February. The bank had increased the interest rate on 1-year FDs by 10 basis points from 4.9 per cent to 5 per cent and for 3 years to 5 years by 5 basis points from 5.40 per cent to 5.45 per cent.
SBI made this change
SBI had recently increased the interest rates on FDs to 5.20 percent for a period of two to three years, while changing the interest rates of FDs. The rates were increased to 5.45 per cent on FD deposits of 2 to 5 years. At the same time, for FD deposits with tenures of 5 to 10 years, the interest rates were revised to 5.50 per cent. The revised interest rates from SBI are applicable on fixed deposits of less than Rs 2 crore.
Interest in Central Bank of India
Central Bank of India and UCO Bank have also increased interest rates on FDs. If we look at the new interest rates of Central Bank of India, then 2.75 percent on 7 to 14 days FD, 2.90 percent on 15 to 45 days, 3.25 percent on 46 to 90 days, 3.80 percent on 91 to 179 days, 180 to 364 days But 4.25 percent, from 1 year to less than 2 years, 5 percent, from 2 years to less than 5 years, 5.10 percent, while the new interest rate on FDs from 5 years to 10 years has been made 5.15 percent.
uco bank interest rates soar
Similarly, UCO Bank has also changed its interest rates on FDs of different tenors. After this change, the new interest rate on FDs of 7 to 29 days is 2.55 percent, 2.80 percent on 30 to 45 days, 3.55 percent on 46 to 90 days, 3.70 percent on 91 to 180 days, 4.40 percent on 181 to 364 days, 1 5.10 per cent on FDs with tenures up to one year, 5.10 per cent on FDs with tenures ranging from 1 year, 1 day to 3 years, 5.30 per cent on FDs with tenures ranging from 3 years, 1 day to less than 5 years, and 5 years and above. The interest rate on fixed deposits has been fixed at 5.10 percent.
Axis Bank revised interest rates
Axis Bank has revised interest rates on FDs from January 20. These changes have been made on deposits less than Rs 2 crore. Axis Bank is offering an interest rate of 2.50 per cent on FDs with maturities between 7 days and 29 days. It is offering an interest rate of 3 per cent for FDs of 30 days to less than 3 months, while 3.5 per cent for FDs of less than 3 months and 6 months. Let us tell you that Axis Bank offers FDs in different tenors ranging from 7 days to 10 years. Senior citizens will get an interest rate of 2.5 percent to 6.50 percent on deposits maturing in 7 days to 10 years.