look news india
Money is kept in fixed deposits for saving to tide over bad situations. Fixed deposit i.e. FD is considered a great solution. In this your money remains safe to a great extent. Here you also get guaranteed returns. If you are thinking of investing in FD then this information is for you. This month, four banks of the country have increased the interest rates keeping in mind the interests of the 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. Its objective is to benefit the customers who depend on these banks for investments. 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 less than Rs 2 crore. The new rates have come into effect from May 1, 2024. In this, the bank offers interest rates between four percent to 8.50 percent for ordinary citizens. Whereas for senior citizens the interest rate 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 been implemented from May 6, 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 May 1, 2024. RBL Bank will offer a maximum interest rate of eight per cent on EFFs maturing between 18 and 24 months. A decision has been taken. In this, senior citizens will get additional interest of 8.50 percent and those above 80 years of age will get 8.75 percent additional interest.
4. Capital Small Finance Bank
Capital Small Finance Bank has revised the FD interest rates of less than Rs 2 crore. It offers interest rates between 3.5 percent to 7.55 percent for general citizens and between four percent to 8.05 percent for senior citizens. The aim of research into the interest rates of these banks is to give citizens the opportunity to earn more interest.