Bank FD: You will get tremendous returns on Bank FD in the new year, these banks have increased the interest rates.

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Bank Fixed Deposit: In the new year, if you are also looking for an option to invest your hard-earned money in a safe place, then there is a good news for you. Four banks of the country have given New Year gifts to their customers. Banks have fixed deposits (FD) has revised the interest rates. This will directly benefit the customers.

The Reserve Bank of India has kept the repo rate fixed at 6.5 for the fifth time after the recent Monetary Policy Committee (MPC) meeting. Due to this, banks have continued increasing interest rates. Experts say that the trend of earning on FD will continue for a few months i.e. in 2024 also.

DCB Bank has increased the interest rates on FDs of less than Rs 2 crore. According to the bank, now general customers will get eight percent interest and senior citizens will get 8.60 percent interest. At the same time, general customers will get interest ranging from 3.75 percent to eight percent on deposit period of seven days to 10 years. At the same time, the bank is offering interest ranging from 4.25 percent to 8.60 percent to senior citizens.

Bank of India has revised the interest rates on its fixed deposits from December 1. The bank has increased the interest rates on FDs of more than Rs 2 crore and less than Rs 10 crore. The bank is offering its customers 5.25 percent interest on 46 days to 90 days, 6.00 percent on 91 days to 179 days, 6.25 percent on 180 days to 210 days, 6.50 percent on 211 days to less than one year.

Federal Bank has increased the interest rates on 500 days FD. Under this, now general customers will get 7.50 percent interest on fixed deposits of 500 days. At the same time, for senior citizens, 8.15 percent interest is being offered on the same period and 7.80 percent interest is being offered for the period more than 21 months to less than three years.

Kotak Mahindra Bank has increased its interest rates for its customers on FDs of three to five years. The bank is giving 2.75 percent to 7.25 percent interest to general customers on FDs which mature in 7 days to 10 years. Whereas, senior citizens are being given 3.35 percent to 7.80 percent interest.

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