FD Interest Rates Hike: This Government Bank increased Interest Rates on Fixed Deposit, Check Name

Bank FD rates hike: The Indian bank has decided to increase the interest rates on FDs of less than Rs 2 crore. In such a situation, Indian Bank customers will get more returns.

Last month, the Reserve Bank of India raised the repo rate. Since then, both the government (Public Sector Banks) and private sector banks have continued to raise fixed deposit rates. Customers of the country’s public sector bank and Indian Bank can rejoice in this.

The bank has decided to raise interest rates on short-term deposits of less than Rs 2 crore (Indian Bank FD Rate of Interest). Customers of Indian Bank will receive higher returns in this case. These higher interest rates will take effect on June 1, 2022, according to information published on the official bank website.

Bank’s latest rate of interest (for amount less than 2 crores)

Advantages are more being given to senior citizens;

Indian Bank is providing significant benefits to older persons in terms of FD interest rates. On FD’s up to 10 crores, the bank is offering  0.50 percent higher interest rate, to the senior citizen . This restriction applies to all three types of deposit accounts i.e. FDs, Money Multiplier Deposit Accounts and Short Term Deposit Accounts.