FD Interest Rates: BoI has updated its fixed deposit interest rates for deposits below Rs 2 crore After the revision, the bank now offers interest rates ranging from 3 per cent to 7.25 per cent for deposit periods ranging from 7 days to 10 years. These rates are effective from 1st April 2024. Senior citizens will receive 50 basis points (bps) for a period of 6 months-and more.
People are turning to fixed deposits for reliable returns in India. In this context, many banks are offering special interest rates on fixed deposits to gain public acceptance. Especially in the new financial year, all banks are revising the interest rates on FDs. Recently leading Bank of India has revised the FD rates. BoI has updated its fixed deposit interest rates for deposits below Rs 2 crore After the revision, the bank now offers interest rates ranging from 3 per cent to 7.25 per cent for deposit periods ranging from 7 days to 10 years. These rates are effective from 1st April 2024. Senior citizens will receive 50 basis points (bps) for a period of 6 months-and more. An additional 65 bps has been granted to super senior citizens. Let’s know more details about revised interest rates on Bank of India FDs.
Senior citizens will get an additional premium of 25 bps on deposits below Rs 2 crore with tenure of 3 years and above. Similarly, 25 bps additional premium will be provided to super senior citizens. Bank of India (BOI) is offering an interest rate of 3 percent for deposits maturing between 7 days to 45 days as per the latest Bank of India revised interest rate. BOI offers an interest rate of 4.50 per cent for deposits maturing between 46 days and 179 days. BOI offers an interest rate of 5.50 per cent on deposits of 180 days to 269 days. However, the bank offers 5.75 percent interest for deposits with a tenure of less than 270 days to 1 year. Deposits maturing within 1 year to 2 years will get an interest rate of 6.80 percent. The maximum return is 7.25 percent for those maturing in 2 years. BOI pays 6.75 percent interest on term deposits with maturity of less than two years and three years. However, deposits maturing within three to five years will get an interest rate of 6.50 percent. The interest rate on deposits maturing in five to ten years is 6 percent. Provides interest rates.
The interest rate on SBI FDs is as follows
The latest fixed deposit (FD) rates offered by State Bank of India (SBI) offer interest rates between 3.5 per cent to 7 per cent for deposits maturing in seven days to ten years for general customers. For senior citizens it ranges from 4 percent to 7.5 percent. These revised rates are effective from December 27, 2023.
HDFC Interest Rates
HDFC offers interest rates between 3 percent and 7.25 percent to general customers on deposits maturing in seven days to 10 years. Senior citizens get interest rates ranging from 3.5 percent to 7.75 percent on these deposits. These rates are effective from February 9, 2024.
ICICI Bank Interest Rates
ICICI Bank offers regular customers interest rates between 3 percent and 7.2 percent on fixed deposits maturing in seven days to ten years. Senior citizens get interest rates ranging from 3.5 percent to 7.75 percent on these deposits. These rates are effective from February 17, 2024.
Read also: Cash Deposit Limit : The cash deposit limit in the savings…
