Fixed Deposit Rates Hike: Inflation in the whole world including India is increasing very fast. In such a situation, to control the inflation rate, central banks around the world are increasing their interest rates. In India also common people are very worried about inflation. In such a situation, to control the inflation rate, the Reserve Bank is continuously increasing its repo rate. In the last 7 months, the bank has increased its repo rate from 4.00 percent to 5.90 percent. In such a situation, its effect is clearly visible on the bank’s deposit rates and loan interest rates.
In the recent past, many banks including SBI, PNB, Axis Bank, ICICI Bank have increased their FD and loan interest rates. Now along with these banks, the name of other big banks of the country has been included in this list. These banks are Central Bank of India and Karur Vysya Bank. Both these banks have recently increased their FD rates. If you want to open FD account by these two banks, then we are giving you information about their latest interest rate.
FD rates of Central Bank of India-
Central Bank of India has increased its FD rates by 75 basis points. This increase has been made on deposits of less than Rs 2 crore. After this increase, the bank is offering the highest interest rate of 6.50 percent on 555 days and 6.25 percent interest rate on 999 days FD. These are both special FD schemes. The new interest rates will be applicable from 15 November 2022.
Apart from this, the bank is offering interest rates ranging from 3.00 percent to 6.15 percent on FDs of 7 days to 10 years to ordinary citizens. The bank is offering 3.00 percent interest rate on FDs of 7 to 14 days. At the same time, 3.25 percent on FDs of 15 to 45 days, 4.25 percent on FDs of 46 to 90 days, 4.50 percent on FDs of 91 to 179 days, 5.25 percent on FDs of 180 to 364 days, 6.15 percent from 1 to 2 years, 2 The bank is offering an interest rate of 6.00 percent for 3 years to 6.00 percent and 5.75 percent interest rate on FDs from 3 to 10 years. Apart from FD, the Central Bank of India has also decided to increase the interest rate on the savings account. The bank is offering an interest rate of 2.90 per cent on deposits of less than 10 crores and 3.00 per cent on deposits of more than 10 crores.
Karur Vysya Bank FD Rates-
Karur Vysya Bank FD Rates has also decided to increase its FD rates below Rs 2 crore. These rates will be applicable from 10 November 2022. The bank is offering 4.00 percent interest rate to ordinary citizens on FDs of 7 days to 30 days. At the same time, the bank is offering 5.25 percent interest rate on FDs of 31 to 120 days.
At the same time, 6.00 percent interest rate on FDs from 181 days to 1 year, 6.50 percent on FDs of 1 year to 554 days, 7.25 percent on FDs of 555 days, 6.50 percent on FDs from 556 days to 2 years, from 2. 7.00 percent for 3 years, for more than 3 years the bank is offering you 6.25 percent interest rate. In such a situation, this bank is offering the maximum interest rate of 7.25 percent to its ordinary citizens. On the other hand, senior citizens are getting a return of 7.65 percent.
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