The Federal Bank has increased its FD interest rates. They have increased the interest rates on deposits less than Rs 2 crore for all tenures. Since the announcement of the RBI repo rate hike, many Indian banks have been raising their FD interest rates.
The rates were kept low before to increase the liquidity in the economy. For this, the RBI also increased the printing of new currency. Also, due to the Russia Ukraine war, inflation is touching new heights across the globe. With the pandemic almost behind us, the central banks have been hinting at higher interest rates to fight inflation.
Federal Bank FD Rates
|7-29 Days||2.65 per cent|
|30-45 Days||3.25 per cent|
|46-60 Days||3.65 per cent|
|61-90 Days||3.75 per cent|
|91-119 Days||4 per cent|
|120-180 Days||4.25 per cent|
|181-270 Days||4.5 per cent|
|271 Days-1 Year||4.75 per cent|
|1 Year-549 Days||5.4 per cent|
|550 Days||5.5 per cent|
Recently, ICICI Bank increased the FD interest rates for certain tenures, Know all about it here.
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