IndusInd Bank, DCB Bank, Federal Bank hike FD interest rates
Many banks have raised the interest rates on fixed deposits (FDs) over the past two months. The interest rates on fixed deposits have changed at IndusInd Bank, DCB Bank, and Federal Bank.
IndusInd Bank IndusInd Bank has hiked interest rates on fixed deposits of less Rs. 2 Cr with effect from June 21, 2022. After the modification, the bank raised the interest rates on a number of deposit tenors, offering the general public a maximum rate of 6.50 percent and senior citizens a maximum rate of 7 percent. On term deposits lasting 61 months or longer, the bank gives an interest rate of 6%. The bank offers a 6.50 percent interest rate for terms of two years to 61 months.
IndusInd Bank latest FD interest rate
According to the bank website, “Interest is compounded quarterly. Simple interest will be paid on maturity for deposit wherever the tenure is upto 180 days.”
DCB DCB Bank has revised the interest rates on fixed deposits under Rs 2 crore for tenure higher than 18 months. The new rates are effective June 22, 2022. On deposits maturing in 18 months to less than 120 months will now offer 6.60 percent after the revision.
DCB latest FD interest rates
Federal Bank Federal bank has revised fixed deposit rates on deposits under Rs 2 crore. The bank's revised interest rates will take effect on June 22, 2022, and they will be valid for loan terms ranging from 7 days to 2223 days. The bank offers interest rate between 2.75 percent to 5.95 interest rate.
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