FD Rates Update: Central Bank of India FD Rates: Public sector Bank of Baroda is one of the banks that offers clients with the greatest rates on FDs with terms ranging from two to three years. The information obtained through the bank’s official website states that the higher new interest rates will take effect on January 10, 2024.
When considering savings, the term “fixed deposit” (FD) is automatically mentioned. Fixed deposit investments are secure and yield guaranteed returns. This is good news if you wish to invest in FDs as well. In actuality, after 113 years of operation, the large public sector lender Central Bank of India has adjusted the interest rates on fixed deposits (FD) of less than Rs 2 crore.
The bank will offer 3.5 percent to 7 percent interest to its regular clients on FDs with terms ranging from 7 days to 10 years following this interest rate changes. In addition, the bank will pay senior citizen clients interest rates ranging from 4% to 7.50% during the same time frame.
On January 10, new interest rates went to effect.
Following this interest rate adaptation, the Central Bank of India will provide its regular customers FDs with terms ranging from two to less than three years at a maximum interest rate of 7%, while senior citizen customers would receive interest at a rate of 7.50 percent over the same time frame. The information obtained from the bank’s official website states that the higher new interest rates will take effect on January 10, 2024.
FD rates of the Central Bank of India
After this modification in interest rates, the bank is offering 3.5 percent to its general clients on FD of 7 days to 14 days, 3.75 percent on FD of 15 days to 45 days, 4.50 percent on FD of 46 days to 59 days and 4.50 percent on FD of 60 days to 90 days. Will give 4.75 percent interest on FD. Yet, for FDs ranging from 91 to 179 days, the bank will pay 5.50 percent interest, and for FDs running from 180 to 270 days, it will pay 6 percent interest.
Highest interest rate for two to three-year deposits
The Central Bank of India is currently offering deposits maturing in less than a year or two a 6.75 percent interest rate. The interest rates that the bank is currently offering are 7.00 percent for deposits that are between 2 and 3 years and 6.50 percent for deposits that are less than 3 to 5 years. Deposits maturing during the next five to ten years will now receive interest at a rate of 6.25 percent.