Mumbai: Three leading banks in the country have revised fixed deposit intrest rates. These lenders took this decision as the Reserve Bank of India (RBI) decided paused the repo rate hikes.
Leading private lender, Kotak Mahindra Bank has revised the interest rate on fixed deposits (FD). After the latest revision, Kotak Bank is offering an interest rate of 2.75% to 7.25% for general customers on deposits maturing in 7 days to 10 years. Senior citizens will earn an interest rate of 3.25% to 7.75% on these FDs.
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Another private lender, Axis Bank has also revised interest rates on its term deposits. Axis Bank offers an interest rate of 3 % to 7.10% to general citizens, and 3% to 7.75% to elderly people.
IDBI Bank has revised interest rates on its term deposits. IDBI Bank offers an interest rate ranging from 3% to 6.8% on FDs maturing in 7 days to 5 years to general customers, and 3.5% to 7.3% to elderly people.
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