Private bank will also give more interest on FD, see full information

FD Interest Rate Big news Now this private bank will also give more interest on FD

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After the increase in the CRR by the Reserve Bank, banks have been continuously announcing changes in the interest rates of FD.

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ICICI Bank, Bandhan Bank and Jana Small Finance Bank, Kotak Mahindra Bank has now announced to increase FD interest rates.

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Private sector Kotak Mahindra Bank on Thursday announced an increase in FD interest rates by up to 35 basis points.

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Reserve Bank had increased the repo rate by 40 basis points and the CRR by half a percentage point.

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There has been a shortfall of Rs 87,000 crore in all private banks. This is the reason why banks are now increasing FD interest rates.

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The bank has said that the interest rate on deposits of 390 days has been increased by 30 basis points to 5.5 percent.

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The bank is offering 5.25 percent interest on deposits of 364 days and 5.4 percent on deposits of 365 days to 389 days.

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