IDFC First Bank offers FDs from 7 days to 10 years. This bank gives senior citizens 50 basis points higher FD interest than regular people. IDFC First Bank offers 7.25% APR on FD with 750 days maturity.
After the increase in the repo rate, the rate on time deposits (FD Rates) is also steadily growing. The RBI announced an increase in the repo rate this month, after which banks raised savings account rates along with the FD rate. After May 2022, there is a continuous increase in FD and savings account rates. Almost all banks are participating in this increase. This list mainly includes State Bank of India, HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank, IDFC First Bank and RBL Bank, etc. All of these banks have recently raised the FD rate. In addition, small banks also give good interest.
Here small banks mean small financial banks. So, let us know about the rates of those four banks where FD earns more than 7%.
1-IDFC First Bank FD Rate
IDFC First Bank offers FDs from 7 days to 10 years. This bank gives senior citizens 50 basis points higher FD interest than regular people. IDFC First Bank offers 7.25% APR on FD with 750 days maturity. The same amount, 7.75 percent, is paid to pensioners.
2-RBL Bank new course
RBL Bank provides ordinary clients with 7% per annum on FD with a maturity of 15 months. Seniors receive interest at a rate of 7.50% on term deposits maturing during this period.
3-Union Bank of India
The state bank Union Bank of India changed the FD rates. This bank has increased FD interest rates by less than Rs 2 crore since October 17th. After the latest increase, the bank is offering interest rates from 3% to 7% on FDs with maturities ranging from 7 days to 10 years. With a maturity of 599 days
4-Canara Bank New rates
Canara Bank has launched a special FD scheme for 666 days. Under this scheme, the bank offers its regular customers an interest rate of 7%, while pensioners will receive an interest rate of 7.5% on these deposits.
Canara Bank raised interest rates on DRs of all maturities. Interest ranging from 3.25 to 7 percent is available on FDs from 7 days to 10 years. Seniors receive interest ranging from 3.25 percent to 7.50 percent. The new bank rates apply from October 7, 2022.