- Four banks changed interest rates on fixed deposits
- Planning to put money in FD for future money needs is considered excellent
- The requirement can be fulfilled by interest paid on FD
Money is kept in fixed deposit for saving to work in bad condition. Fixed deposits i.e., FDs are considered to be a great option. In this your money is safe to a large extent. Here you get return along with guarantee. If you are thinking of investing in an FD then this information is for you. Four banks in the country have hiked interest rates this month keeping in mind the interests of customers.
According to the information, Utkarsh Small Finance Bank, City Union Bank, RBL Bank and Capital Small Finance Bank have decided to revise their FD interest rates in May-2024. This is intended to benefit the customers who are relying on these banks to invest. This information tells you about the revised FD rates.
1. Utkarsh Small Finance Bank
Utkarsh Small Finance Bank has revised its FD interest rates for amounts below Rs 2 crore. The new rates have been implemented from 1st May 2024. In this, the bank offers interest rates between four percent to 8.50 percent for general citizens. While the interest rate for senior citizens is between 4.60 percent to 9.10 percent.
2. City Union Bank
City Union Bank has also tried to provide additional benefits to customers by researching its FD interest rates. For this, the revised interest rates have come into effect from 6 May 2024. So in this the bank will give interest rates on FD between five percent to 7.25 percent for general citizens and between five percent to 7.75 percent for senior citizens.
3. RBL Bank
RBL Bank has also changed the interest rate on fixed deposits. The new FD interest rates will be applicable from 1 May 2024. RBL Bank will offer a maximum interest rate of eight percent on EFF maturing between 18 to 24 months. A decision has been taken. In this, senior citizens will get an additional interest of 8.50 percent and those above 80 years of age will get an additional interest of 8.75 percent.
4. Capital Small Finance Bank
Capital Small Finance Bank has revised FD interest rates for less than two crore rupees. It offers interest rates between 3.5 percent to below 7.55 percent for general citizens and between four percent to 8.05 percent for senior citizens. The target of research in the interest rates of these banks is to give citizens an opportunity to earn more interest.
