Aha, five banks will now give more interest on FD, huge increase, new rates have come into effect from July 1

Fixed Deposit: Private sector Axis Bank will now give its customers 7.20 percent interest on deposits of Rs 3 crore for a period of 17-18 months. For senior citizens, this rate is 7.75 percent. 7.10 percent interest will be given on FD for two years.

The bank is offering interest ranging from 3 to 7.2 percent on FDs to common citizens. For senior citizens – the rate is between 3.50 percent to 7.75 percent. From July 1, the bank is offering its customers interest ranging from 3.75 to 6.50 percent on FDs up to Rs 3 crore. The interest rate for senior citizens is the highest at 8.75 percent, which is 0.50 percent higher.

According to the bank's website, it has also implemented changes in interest rates on FDs from July 1. Under this, the bank will give its customers up to 7.20 percent interest on deposits of less than Rs 3 crore for a period of 15 months to two years. It is giving 6.7 percent interest on deposits for a period of one year. The lowest interest rate is 3.50 percent. The bank will give up to 7.75 percent interest to senior citizens.

The new rates of Bank of India have come into effect from June 30. It is offering senior citizens up to 7.80 percent interest on deposits for a period of 666 days. Ordinary citizens are getting 7.3 percent interest. On the other hand, Punjab and Sindh Bank said that its revised interest rates have also come into effect from July 1. It is offering 7.80 percent interest to its customers and senior citizens on deposits of 666 days. It is offering interest rates ranging from 2.80 to 6.65 percent to ordinary citizens.