Leading banks hike the interest rates on fixed deposits

Mumbai: Leading private sector lenders in the country,  Kotak Mahindra Bank, ICICI Bank, and Yes Bank have raised the interest rates on fixed deposits (FD). Customers will now  get an interest up to 7.50% on fixed deposits.

Yes Bank is now offering interest rates between 3.25% to 7.75% to general citizens, and 3.75% to 8.25% to senior citizens on FDs maturing in seven days to ten years. The private sector bank will be paying a 7.25% rate on FDs maturing in one year , 7.50% on one year to less than 18 months, and 7.75% on deposits maturing in 18 months to 24 months.

Also Read: Mahzooz Draw: 23 participants win Dh150,000 

Yes Bank FD rate hike: Check new interest rates

7 days to 14 days – 3.25%

15 days to 45 days – 3.70%

46 days to 90 days – 4.10%

91 days to 120 days – 4.75%

121 days to 180 days – 5.00%

181 days to 271 days – 6.10%

272 days to < 1 year – 6.35%

1 year – 7.25%

1 year 1 day to < 18 months – 7.50%

18 month < 24 months – 7.75%

24 months to < 36 months – 7.25%

36 months to < 60 months – 7.25%

60 months – 7.25%

60 months 1 day to <= 120 months – 7%

Duration      ICICI        Yes Bank         Kotak Mahindra     

1 year               6.70%          7.25%                     7.10%

2 years             7.10%          7.25%                     7.10%

3 years             7%               7.25%                     6.50%

5 years             7%               7.25%                     6.20%                                 7