Good News: After the shocks of RBI, these banks gave relief news, increased interest rate on deposits
Business
oi-Bavita Jha
New Delhi. The Reserve Bank of India increased the repo rate for the third time in a row, after which the EMI burden on the people increased. However, along with increasing the EMI burden, some banks have now increased the interest rates on FDs. Recently, private sector bank Federal Bank has increased interest rates on savings account deposits. At the same time, before this, Indian Bank gave great news to the people by increasing the interest rates of FD.
Federal Bank interest rates
Federal Bank has raised interest rates on deposits. The bank has given relief to lakhs of account holders till the increase in the interest rates of the savings account. The interest rate on savings accounts of Rs 5 crore and less has now been reduced to 3 per cent. At the same time, changes have also been made on deposits of more than 5 crores. At the same time, Indian Bank has increased the interest rate of FD. Federal Bank hikes repo rate by Reserve Bank of India
After this, the decision was taken to increase the interest rates, which has come into effect from 6 August. The bank has given information about the new interest rates on its website.
Indian Bank gave relief
At the same time, after the increase in the repo rate by the RBI, Indian Bank has also given relief to its customers. Indian Bank has increased interest rates on FDs below Rs 2 crore. According to the information available on the bank’s website, Indian Bank has increased the interest rates on FDs with savings deposits by increasing the interest rates on FDs with fixed deposits on FDs of one year maturity. While the bank will give interest rates ranging from 2.80 per cent to 5.60 per cent for common citizens on the basis of total deposits, senior citizens get an interest rate ranging from 3.30 per cent to 6.10 per cent.
