Interest rates hike on FD: The Reserve Bank of India (RBI) is steadily boosting interest rates in order to curb the country’s inflation. In this scenario, it has a direct impact on the bank’s interest rates on savings accounts, RDs, and fixed deposit rates. In addition, banks are constantly upping the interest rates on their loans. Two national banks have decided to increase the interest rate on deposits of less than Rs. 2 crore. RBL Bank and Union Bank of India are the names of these institutions. Union Bank of India is a public sector bank, whereas RBL Bank is a commercial bank. Both banks’ revised interest rates went into effect on Friday, November 25, 2022.
These banks offer their regular customers a fixed-rate deposit scheme with a maximum interest rate of 7.55 percent.
RBL Bank’s new FD rates:
RBL Bank FD Rates, on the other hand, give regular people interest rates ranging from 3.25 percent to 6.55 percent on FDs lasting anywhere from 7 days to 10 years. Fixed-rate deposits with a term of 725 days are also available at the maximum interest rate of 7.55 percent.
The bank offers a 3.25 percent interest rate on FDs with durations ranging from 7 to 14 days. offers a 3.75 percent interest rate on term deposits of 15 to 45 days and a maximum interest rate of 4% on term deposits of 46 to 90 days.
Furthermore, the bank is giving a 7.55 percent interest rate on FDs from 15 months to 725 days, a 5.00 percent interest rate on FDs from 181 days to 240 days, a 5.85 percent interest rate on FDs from 241 days to 364 days, and a 7.00 percent interest rate on FDs from 365 days to 452 days. It used to be. On the other hand, the bank offers interest rates of 7.00% on fixed-rate deposits (FDs) with maturities ranging from 726 days to 36 months, 6.55% on FDs with terms ranging from 36 months to 60 months, 6.25% on FDs with terms ranging from 60 months to 240 months, and 6.55% on tax-savings plans.
Union Bank of India offers new FD rates:
Union Bank of India (Union Bank of India FD Rates) offers regular clientele interest rates ranging from 3.00% to 6.70% on FDs of less than Rs 2 crore. These rates are offered for term deposits ranging from seven days to ten years. At the same time, the maximum interest rate is 7.30 percent. This interest rate is offered on a fixed-rate loan for 800 days.
Union Bank offers a 3% interest rate on FDs with durations ranging from 7 to 45 days. Furthermore, Union Bank is offering 4.05 percent interest on FDs with terms of 46 to 90 days, 4.40 percent interest on FDs with terms of 121 to 180 days, 5.25 percent interest on FDs with terms of 181 to 1 year, 6.30 percent interest on FDs with terms of 1 year to 589 days, and 7.00 percent interest on FDs with terms of 599 days. It also offers 6.30 percent interest on FDs with periods ranging from 600 to 699 days, and 7.25 percent interest on FDs with terms ranging from 700 to 700 days.
The bank offers FDs with an interest rate of 6.70% and FDs with an interest rate ranging from 5.70% to 10.70% to its regular customers.