The repo rate has been increased by 0.40 per cent or 40 basis points to 4.4 per cent by the Reserve Bank of India (RBI) on May 4. After this decision of RBI, the government and private sector banks of the country have increased the interest rate on FDs. After this, many small finance banks and private sector banks of the country are giving an interest of up to 7 percent on 3-year FD. Let’s know….
Suryoday Small Finance Bank: This bank is offering you interest up to 7% on FDs of 3 years. If you make an FD of Rs 1 lakh in this bank for a period of 3 years, then on maturity your amount will increase to Rs 1.23 lakh. The minimum amount to invest in this is one thousand rupees.
Ujjivan Small Finance Bank: It is one of the largest small finance banks in the country. This bank is offering an interest rate of 6.9 percent on 3-year FD. If you make an FD of Rs 1 lakh in this bank for a period of 3 years, then on maturity your amount will increase to Rs 1.23 lakh. You can get FD in this bank with a minimum investment of 1000 rupees.
IndusInd Bank: Among the private banks, IndusInd Bank is giving the highest interest on FD to the customers. If you make an FD of Rs 1 lakh in this bank for a period of 3 years, then on maturity your amount will increase to Rs 1.21 lakh. You can get FD in this bank with a minimum of 10 thousand.
RBL Bank: This bank is giving 6.3 percent interest to customers on 3-year FD. If you make an FD of Rs 1 lakh for a tenure of 3 years, then your amount will increase to 1.21 lakh on maturity.
With this, big private sector banks like Yes Bank, DCB Bank, Bandhan Bank are offering interest rates of up to 6.25 percent on 3-year FDs. FDs in DCB Bank and Yes Bank will require a minimum investment of Rs 10,000, while in Bandhan Bank, you can get FDs with a minimum of Rs 1,000.