These banks changed FD rates from the new year, now you will get huge interest on deposits; read details

Fixed Deposit Interest Rate: Fixed Deposit (FD) is a superb funding choice for traders as a result of it has much less threat. Despite this, as a result of restricted returns, tax on interest, penalty for breaking FD and rising inflation, individuals’s interest in it’s lowering. To preserve traders’ interest on this, three public sector banks of the nation have elevated their interest rates on fastened deposits of lower than Rs 3 crore in the first week of 2025. Here details associated to interest rates on FD of those banks are being given efficient from January 1, 2025.

Union Bank of India

From January 1, 2025, Union Bank of India has elevated the interest rates on FDs of lower than Rs 3 crore. Now the financial institution is providing 3.50 % interest for 7-45 days and 4.50 % interest for 6-90 days. Union Bank of India will give 4.80 % interest on FDs maturing in 91-120 days, whereas 5 % interest will be given on FDs maturing in 121-180 days.

The financial institution will give 6.35 % interest on home time period deposits maturing between 181 and 1 12 months, whereas 6.80 % interest will be given on deposits maturing between 1 12 months and 398 days. For extra info associated to this, you can discover out by visiting the financial institution’s web site or any of your nearest branches.

Punjab National Bank

Punjab National Bank has additionally revised the interest rates on fastened deposits of lower than Rs 3 crore. After this alteration, now the financial institution is giving 3.50 % interest on tenure of 7-45 days and 4.50 % interest on tenure of 46-90 days. The financial institution will give 5.50 % interest on FDs maturing between 91 to 179 days, whereas 6.25 % interest will be given on deposits maturing between 180 to 270 days. Whereas on deposits maturing in 271 to 299 days and 300 days, interest will be given at 6.50 and seven.05 % respectively. For extra info you can go to https://www.pnbindia.in/ or go to any of your nearest department.

Punjab and Sindh Bank

Punjab and Sindh Bank (PSB) has changed the interest rates on FDs of lower than Rs 3 crore from January 1, 2025. Under this, the financial institution is giving returns as much as 7.50 % on tenure of 555 days. In addition to the fastened interest price on deposits maturing in 180 days or extra, senior residents will get a rise of 0.50 % interest on deposits of lower than Rs 3 crore. Detailed info associated to that is accessible on the financial institution’s web site.

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