When you are getting up to 7.40% interest on FD, then why to think elsewhere, get safe returns

Fixed Deposit Rates: Private sector lender South Indian Bank has increased its interest rates on fixed deposits of less than ₹2 crore. The bank is providing interest rates between 2.65% to 6.00% to the general public and 3.15% to 6.50% to senior citizens on FDs maturing in 7 days and 10 years. On the other hand, non-senior citizens will get a maximum return of 7.40% on the deposit period of 500 days (SIB 94 Plus). On the other hand, senior citizens will now get a maximum return of 7.50% on the deposit period of 1 year and 1 day. The latest fixed deposit interest rates of South Indian Bank will be effective from January 29, 2023.

The bank is now offering an interest rate of 2.65% on deposits of 30 days from the next 7 days. Deposits maturing in 31 days to 90 days will earn an interest rate of 3.25%. Currently, South Indian Bank is offering an interest rate of 4.25% on deposits for 91 to 99 days and 5.50% on deposits for 100 days.

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South Indian Bank FD Rates
Deposits maturing in 101 days to 180 days fetch 4.25% interest while deposits maturing in 181 days to less than a year fetch 4.60% interest. On deposits maturing in 1 year, the bank is now offering an interest rate of 6.60% and on deposits maturing in 1 year and 1 day, South Indian Bank will now offer an interest rate of 7.00%. South Indian Bank is now offering an interest rate of 6.50% on deposits of 1 year 2 days to 499 days and 7.40% on special deposits of 500 days (SIB 94 Plus).

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Deposits maturing in 501 days to less than 30 months will fetch an interest rate of 6.50% and those maturing in 30 months will fetch an interest rate of 7.00%. On deposits with a tenure of more than 30 months to less than 5 years, the bank is now offering an interest rate of 6.50%. While deposits maturing in less than 5 years to 66 months have an interest rate of 6.00%. South Indian Bank will now offer an interest rate of 6.50% on deposits of up to 66 months (Green Deposit) and 6.00% on deposits of more than 66 months and up to 10 years.

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Tags: Bank FD, business news in hindi, FD Rates, Fixed, Fixed deposits