Fixed Deposit: Yes Bank changes FD interest rates, know how much will be the benefit

New Delhi. If you also want to get strong returns in a safe way by investing in Fixed Deposit (FD), then this news is for you only. In fact, Yes Bank of the private sector has changed the interest rates on fixed deposits (FD) of less than Rs 2 crore. According to the information available on the official website of the bank, the new rates of interest are effective from December 5, 2022.

After the change, the bank is currently offering an interest rate of 3.25 per cent to 6.75 per cent for general public and 3.75 per cent to 7.50 per cent for senior citizens on deposits maturing in 7 days to 120 months. Now the general public will get a maximum interest rate of 7 percent on deposits with maturity between one year and 3 years.

read this also- Explainer: Which FD is better to invest in fixed or floating rate? In which and why will you get more profit

yes bank fd rates
After the change in interest rates, Yes Bank 3.25% on FDs of 7 days to 14 days, 3.70% on FDs of 15 days to 45 days, 4.10% on FDs of 46 days to 90 days, 4.75% on FDs of 91 days to 180 days Per cent and 181 days to 271 days on FD, the bank is paying 5.50 per cent interest. Now Yes Bank is paying 5.75 per cent interest on FDs of 272 days to 1 year, a maximum of 7 per cent on FDs of 1 year to 36 months and 6.75 per cent on FDs of 36 months to 120 months.

read this also- Best opportunity for senior citizens to invest in FD, this bank is giving up to 8.25% interest

RBI has increased the repo rate for the fourth time in a row
Significantly, to stop the rising inflation in the country, RBI has increased the repo rate for the fourth time in a row. Now the repo rate has reached 5.90 percent. In the MPC meeting of RBI on September 30, it has been decided that the repo rate will be increased by 0.50 percent. Now the repo rate has been increased from 5.40 percent to 5.90 percent. Earlier, after 0.40 per cent increase in May, there was an increase of 0.50-0.50 per cent in June and August.
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Many banks have increased the rates of fixed deposits
Let us inform that recently RBL Bank, Axis Bank, CSB Bank Limited, Kotak Mahindra Bank, Canara Bank, Indian Overseas Bank etc. have also increased their FD rates. This process of rate hike has started after the increase in repo rates by RBI.

Tags: Bank FD, FD Rates, Fixed deposits, interest rate, Money Making Tips, yes bank

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