Fixed Deposit Interest charges By Top Banks: Following the shock repo price hike announcement by the reserve financial institution of India lately, a number of banks have introduced a change of their Fixed Deposit charges. Most of the banks have elevated charges by a couple of factors specifically for fastened deposits of small tenors.
Banks like SBI has elevated fastened deposit charges for some tenors on deposits above Rs 2 crore. With anticipated repo price hikes within the upcoming coverage meets, it’s anticipated that banks might additional announce elevated FD charges.
Here’s a take a look at the Fixed Deposit Interest charges supplied by SBI, HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank and Punjab National Bank on deposits above Rs 2-5 crores.
Fixed Deposit Rates by Banks
State Bank of India
SBI is providing 3.75% curiosity on deposit of Rs 2-5 crore for as much as 1 12 months. The highest rate of interest supplied by this financial institution for such giant deposits is 4.5 p.c on 5 and 10 12 months tenors.
HDFC Bank
HDFC Bank is providing 4% curiosity on deposit of Rs 2-5 crore for as much as 1 12 months. The highest rate of interest supplied by this financial institution for such giant deposits is 4.8 p.c on 5 and 10 12 months tenors.
Kotak Mahindra Bank
Kotak Mahindra Bank is providing 4.75% curiosity on deposit of Rs 2-5 crore for as much as 1 12 months. The highest rate of interest supplied by this financial institution for such giant deposits is 5.75 p.c on 5 and 10 12 months tenors.
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Axis Bank
Axis Bank is providing 4.5% curiosity on deposit of Rs 2-5 crore for as much as 1 12 months. The highest rate of interest supplied by this financial institution for such giant deposits is 5.25 p.c on 2, 3, 5 and 10 12 months tenors.
Punjab National Bank
PNB is providing 4% curiosity on deposit of Rs 2-5 crore for as much as 1 12 months. The highest rate of interest supplied by this financial institution for such giant deposits is 4 p.c throughout 1,2,3,5,10 12 months tenors.
Source: www.financialexpress.com”