Funding
oi-Renu Baliyan
Lately, 5 main non-public and public sector banks revised their rates of interest on mounted deposits (FDs). These banks are IndusInd Financial institution, Financial institution of Baroda, UCO Financial institution, DCB Financial institution, and Kotak Mahindra Financial institution. Test rates of interest that these banks now supply on FDs after the revision:
1. IndusInd Financial institution: The main non-public sector financial institution up to date its mounted deposit rates of interest on March 18, 2023. After the revision, the financial institution gives senior residents most rate of interest of 8.25% on mounted deposits for the tenure of 1 yr 6 months to under 1 yr 7 months. For a similar tenure, common residents can fetch an rate of interest of 7.75%. These rates of interest are relevant for deposits of lower than Rs 2 crore.
2. Financial institution of Baroda: The general public sector financial institution carried out new FD rates of interest from March 17, 2023 for deposits under Rs 2 crores. Senior residents can fetch most 7.55% for 399 days tenure whereas common residents can fetch 7.05% for a similar tenure often called Baroda Tiranga Plus Deposit Scheme. For 1-year FD, the financial institution is providing common residents an rate of interest of 6.75% and for senior residents, the rate of interest is 7.25%.
3. UCO Financial institution: The main PSU financial institution revised its FD rates of interest on March 15, 2023. After the revision, the financial institution is providing most 7.20% rates of interest to senior residents and 7.15% rates of interest to common residents for FDs for the tenure of 666 days. In the meantime, for FDs for the tenure of 444 days, common residents can get 7.00% rate of interest and senior residents can get 7.05% rate of interest. These rates of interest are relevant for time period deposits lower than Rs 2 crores.
4. DCB Financial institution: The financial institution revised its FD rates of interest on March 10, 2023 for deposits lower than Rs 2 crores. Now it’s providing most 8.50% rate of interest to senior residents and eight.00% rate of interest to common residents for FDs for the tenure of 15 months to lower than 18 months.
5: Kotak Mahindra Financial institution: The financial institution revised its FD rates of interest immediately for deposits of lower than Rs 2 crore. Now senior residents can get most 7.70% rate of interest for FDs for the tenure of 390 days. In the meantime, common residents can get most 7.20% rate of interest for 390 days tenure FDs.
Story first revealed: Wednesday, March 22, 2023, 0:11 [IST]
