Bank News: After big banks including SBI, HDFC Bank, ICICI Bank, there is good news for account holders of private sector lender South Indian Bank. SIBs have increased interest rates on fixed deposits of less than ₹2 crore. According to the official website of the bank, the new rates will be effective from December 20, 2022.
After this decision, banks will now get interest ranging from 2.65 per cent to 6.00 per cent for general public and 3.15 per cent to 6.50 per cent for senior citizens, with tenure ranging from 7 days to 10 years. In South Indian Bank, the maximum regular interest rate is now 7.00% on deposits with a maturity of one year and 7.50% for senior individuals.Earlier IDFC First Bank also changed the interest rate for FDs below Rs 2 crore.
how much interest on what
- 2.65% on Fixed Deposits between 7 days and 30 days.
- Now 3.25 percent interest rate on FDs maturing between 31 and 90 days.
- Fixed deposits between 91 days and 99 days will get interest at the rate of 4.25 percent.
- Interest rate on FD maturing in 100 days is 5.50 percent.
- Fixed Deposits of 101 days to 180 days will have an interest rate of 4.25 per cent.
- FDs with a tenure of 181 days to less than a year will have an interest rate of 4.60 per cent.
- 6.50 percent interest on FD with maturity of less than 5 years
- Fixed deposits of five years or more and up to 10 years will get interest at the rate of 6 per cent.