FD Rates Hike: Up to 9.5 percent interest is being received on Bank FD these days...


Bank FD interest rates have increased in the last few months. Along with this, special FDs have also been launched by banks to attract investors. In such a situation, if you are planning to invest in FD, then this opportunity can prove to be good for you.


The bank interest rate on special FD
On behalf of Kotak Mahindra Bank, 7.2 percent interest is being given on FD for 390 days and 6.2 percent interest is being given on FD for 364 days. 7.10 percent interest is being given on SBI's 400 days FD, while 5.75 percent interest is being given on FDs of less than one year. Utkarsh Small Finance Bank is offering 9.25 percent interest on 700 days of special FD and up to 9.5 percent interest on 1001 days of FD to senior citizens.

How to decide the investment period in FD?
It is often seen that FD investors are quite confused about the tenure for which they should invest. Before deciding on the tenure of FD, an investor should know the reason for his investment. If the investor is investing with a long-term perspective, then he should opt for more years. On the other hand, if you are investing for higher returns, then you should invest in special FDs.


Why are banks increasing the interest rate?
RBI is continuously increasing the repo rate from May 2022 onwards. Since then, the repo rate has increased by 2.50 percent. For this reason, all the banks are increasing the interest rate on FDs and loans etc.

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