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
After the increase in the CRR by the Reserve Bank, banks have been continuously announcing changes in the interest rates of FD.
ICICI Bank, Bandhan Bank and Jana Small Finance Bank, Kotak Mahindra Bank has now announced to increase FD interest rates.
Private sector Kotak Mahindra Bank on Thursday announced an increase in FD interest rates by up to 35 basis points.
Reserve Bank had increased the repo rate by 40 basis points and the CRR by half a percentage point.
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.
The bank has said that the interest rate on deposits of 390 days has been increased by 30 basis points to 5.5 percent.
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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