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Tuesday, July 5, 2022

FD Rates Hike: After the increase in the repo rate, the customers of this bank will get a big benefit! Will get more interest on FD

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FD Rate of Interest Hike: Reserve Bank of India has increased the repo rate twice in a span of a few days. Since then, different banks have also decided to increase the interest rates of their FDs. Now another private bank DBS Bank has given good news to its customers. The bank has decided to increase the interest rates available on its FD (DBS Bank FD Rate Hike). In such a situation, investors will now get higher returns.

The bank has informed that the new interest rates have been implemented on June 9, 2022. In such a situation, investors will now get higher returns on their FDs. The bank has increased by 10 to 50 basis points on FDs up to Rs 2 crore. So let us tell you about the interest rates available to the customers of DBS Bank on different tenures-

This is the interest rate available on FD of Rs 2 crore of DBS Bank-

  • 7 days FD- 4.50%
  • FD of 8 to 14 days – 2.75%
  • FD of 15 to 45 days – 2.75%
  • FD of 46 to 60 days – 2.75%
  • FD from 61 to 90 days – 3.00%
  • FD of 91 to 180 days – 3.00%
  • FD from 181 days to 269 days – 3.25%
  • FDs from 270 days to 1 year – 3.75%
  • FD from 1 year to 375 days – 5.30%
  • FDs from 376 days to less than 2 years – 5.50%
  • FD from 2 years to 2 years 6 months – 5.60%
  • 2 years 6 months – 5.80%
  • 2 Years Above 6 Months & Below 3 Years- 5.80%
  • 3 years to 4 years – 6.00%
  • 4 years to 5 years – 6.00%
  • Above 5 years- 6.00%

These banks also increased the interest rates of FD-
Let us tell you that apart from DBS Bank, many other banks have also decided to increase their interest rates. In this, RBL Bank and Kotak Mahindra Bank have also increased their FDs by 15 basis points. The interest rates of RBL Bank have come into effect from June 8, 2022. At the same time, Kotak Mahindra Bank has implemented its interest rates from June 10.

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