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Tuesday, July 5, 2022

FD Rates Hike: Big news for the customers of this private bank, hike in FD interest rates

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City Union Bank FD Rate Hike: Reserve Bank of India has increased the repo rate twice in the month of May and June. Since then, all the banks have continuously made their loans expensive. Now all types of loans have become expensive for people like Home Loan, Car Loan, Business Loan etc. Along with this, banks have also increased the interest rate available on their savings bank account. Along with this, banks have also increased the interest rates on their FD accounts. The country’s big banks State Bank of India, Punjab National Bank, HDFC Bank etc. Many banks have increased their FD interest rates. Along with this, recently City Union Bank has also increased the interest rate of its FD.

City Union Bank FD Rate Hike has announced to increase the interest rates on its FDs below Rs 2 crore. These new rates have been implemented on 20 June 2022. The bank is offering an interest rate of 4 percent to 5.25 percent to the general public. At the same time, the bank is also offering higher interest rate to senior citizens than the common people. So let’s know the latest rates-

City Union Bank gets this interest on FD of less than 2 crores
7 to 14 days-4.00%
15 days to 45 days-4.10%
46 days to 180 days -4.20%
181 days to 270 days-4.25%
271 days to 1 year -4.75%
365 days to 399 days – 5.25%
400 days-5.40%
From 401 days to 699 days – 5.35%
up to 700 days-5.55%
701 days to 3 years – 5.30%
3 years to 10 years – 5.25%

These banks increased FD interest rate
Let us tell you that apart from City Union Bank, many banks have decided to increase their interest rates here. In this, many banks including State Bank of India, Punjab National Bank, Federal Bank, IndusInd Bank, Kotak Mahindra Bank have increased FD interest rates.

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