Bank of India Revises Interest Rates on Fixed Deposits For Various Tenures: Check New Rates Here

Category : Business

Author: Nob6 Team

Post Date : June 23, 2022

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Financial institution Buyer’s Alert: The Financial institution of India on Thursday revised rates of interest on mounted deposits (FD) of assorted tenures. These rates of interest will come into impact from right this moment itself, the financial institution stated. The transfer from the financial institution comes after varied different banks elevated their rates of interest on FDs, following RBI’s choice to hike the repo price to manage inflation.Additionally Learn – RBI Extends Deadline to Implement New Tips For Credit score Playing cards to October 1 | Particulars Right here

In an announcement, the financial institution stated it is going to supply rates of interest between 2.85 per cent and 5.50 per cent. The financial institution additionally launched a 444-day time period deposit scheme with an rate of interest of 5.50% each year. On this scheme, the senior residents will get an extra curiosity of 0.50% each year. Additionally Learn – Sure Financial institution Floating Price FD Launched! Clients To Get Dynamic Curiosity Charges On Fastened Deposits | Deets Inside

Different banks which have not too long ago revised rate of interest embody ICICI Financial institution, Kotak Mahindra Financial institution, HDFC Financial institution and Punjab Nationwide Financial institution. Additionally Learn – New Debit Card, Credit score Card Tokenisation Guidelines To Change From July 1 | All You Must Know

Financial institution of India in an announcement stated it is going to supply 5.30 per cent rate of interest on FD of 1 12 months to 443 days. The brand new price on deposit for 444 days is 5.50 per cent; 5.40 per cent on tenor of 445 days to lower than 3 years.

Financial institution of India’s Revised FD Curiosity Charges:

7 days to 14 days: For Common Public – 2.85 per cent; For Senior Residents – 3.35 per cent
15 days to 30 days: For Common Public – 2.85 per cent; For Senior Residents – 3.35 per cent
31 days to 45 days: For Common Public – 2.85 per cent; For Senior Residents – 3.35 per cent
46 days to 60 days: For Common Public – 3.85 per cent; For Senior Residents – 4.35 per cent
61 days to 90 days: For Common Public – 3.85 per cent; For Senior Residents – 4.35 per cent
91 days to 179 days: For Common Public – 3.85 per cent; For Senior Residents – 4.35 per cent
180 days to 269 days: For Common Public – 4.35 per cent; For Senior Residents – 4.85 per cent
270 days to lower than 1 12 months: For Common Public – 4.35 per cent; For Senior Residents – 4.85 per cent
1 12 months to 443 days: For Common Public – 5.30 per cent; For Senior Residents – 5.80 per cent
444 days: For Common Public – 5.40 per cent; For Senior Residents – 5.90 per cent
445 days to lower than 2 years: For Common Public – 5.40 per cent; For Senior Residents – 5.90 per cent
Two years to lower than 3 12 months: For Common Public – 5.40 per cent; For Senior Residents – 5.90 per cent
Three years to lower than 5 years: For Common Public – 5.35 per cent; For Senior Residents – 5.85 per cent
5 years to lower than 8 years: For Common Public – 5.35 per cent; For Senior Residents – 5.85 per cent
Eight years and as much as 10 years: For Common Public – 5.35 per cent; For Senior Residents – 5.85 per cent.