PNB Update: 5 banks including PNB made customers happy, and increased interest on FD by this much..

The Reserve Bank of India revises the repo rate once a year. The last time the RBI announced the repo rate was on 7 June 2024. Since then, the current repo rate is 6.50 percent. There has been no significant change in the repo rate for the last several years, it has remained stable.

Now a decision on repo rates will be taken in the meeting of the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) on February 7. Before this meeting of RBI, many banks in the country have updated their fixed deposit interest rates. If you are planning to invest in FD, then this can prove to be the right opportunity for you. Before making an FD in any bank, compare the interest rates of FDs of other banks.

These banks changed the interest rates of FD -

Let us tell you that in January, Union Bank, PNB, Axis Bank, Shivalik Small Finance Bank, Karnataka Bank and Federal Bank have implemented new rates on fixed deposits. This new change will be applicable on FD of general customers.

Punjab National Bank

Punjab National Bank (PNB FD Rate) has launched a new FD of 303 days for its crores of customers, in which a 7 percent interest rate is being given. At the same time, general customers are being given a 6.7 percent interest rate on FD of 506 days duration. This new interest rate has come into effect from January 1. PNB Bank is offering interest ranging from 3.50 percent to 7.25 percent on FDs with tenures ranging from 7 days to 10 years to its general customers. The highest interest of 7.25 percent is being given on FD of 400 days.

Union Bank of India

Union Bank of India has updated the interest rates on FDs of less than Rs 3 crore (Union Bank of India FD Rate). Now FDs with tenures ranging from seven days to ten years are being given interest ranging from 3.5 percent to 7.30 percent. At the same time, the bank is giving the highest interest of 7.30 percent to general customers on FDs of 456 days. These new rates have come into effect from January 1.

Karnataka Bank

Karnataka Bank has changed the interest rates of its fixed deposit (Karnataka Bank FD). The bank is now giving interest ranging from 3.50 percent to 7.50 percent to common citizens for FD tenures ranging from 7 days to 10 years. This bank is offering the highest interest of 7.50 percent on FDs of 375 days. These new rates have come into effect from January 2.

Shivalik Small Finance Bank

Shivalik Small Finance Bank (SFB) has updated its fixed deposit (FD) interest rates, which have come into effect from January 22. For general customers, the interest rate on FD will range from 3.50 percent to 8.80 percent, while for senior citizens this rate will be from 4 percent to 9.30 percent.

Axis Bank

Axis Bank has revised the fixed deposit (Axis Bank FD Rates) interest rates for funds less than Rs 3 crore. Now the bank is offering interest rates ranging from 3 percent to 7.25 percent on FDs ranging from 7 days to 10 years to general customers. These new rates are effective from January 27.

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