The policy review of the Reserve Bank is this week, before which many banks have released new rates of their FDs. This includes HDFC Bank, IDBI Bank and IndusInd Bank etc.
Even before the policy review by the Reserve Bank, many banks have changed their fixed deposit rates. This includes HDFC Bank, Bank of India and IndusInd Bank. The meeting of the Monetary Policy Committee of the Reserve Bank has started from Wednesday and the results may come on Friday. It is estimated that this time also the rates will remain stable. Banks have decided on the rates only after keeping in view the future signals. Know what are the new FD rates of banks
HDFC Bank has decided to change the rates of its two special term deposits. These FDs are of 35 and 55 months. According to the bank, from October 1, the rates will be 6 percent for the period of 9 months to less than one year, 6.6 percent for more than one year and less than 15 months, 7.1 percent for more than 15 months but less than 18 months, 35 7 percent interest is being offered for tenures ranging from 18 months to 10 years except for 10 months and 55 months. 7.15 percent for 35 months and 7.2 percent for 55 months are being offered. Senior citizens will get additional half percent.
Bank of India
Bank of India has revised the rates for FD less than Rs 2 crore. Now the bank is offering rates of 3 to 7.25 percent between 7 days to 10 years. Senior citizens are getting half percent extra. 3 percent for less than 45 days, 4.5 percent for 46 to 179 days, 5.5 percent for 180 to 269 days, 5.75 percent for 270 to less than a year. 6.5 percent is being offered for deposits of one year to 399 days, 7.25 percent for deposits of 400 days. The ongoing rate for 400 days is the maximum rate of interest offered by the bank.
IndusInd Bank is offering the maximum interest rate of 7.85 percent from October which is for the period between one year 6 months to one year 7 months. Senior citizens are being offered maximum interest of 8.25 percent which is between one year to 2 years.