Last Updated : May 22, 2020 01:38 PM IST | Source: Moneycontrol.com
In pics | RBI cuts repo rates: See these high FD rates before banks cut them
The move came in the wake of COVID-19 related relief measure. Banks all set to drop FD rates as RBI cuts interest rates. (Disclaimer: For each year range, the maximum offered interest rate is considered; interest rate is for a normal fixed deposit amount below Rs. 1 crore. Only main entity of the merged banks are taken. Banks which merged with its main entity are removed from the table.)
On May 22, RBI Governor Shaktikanta Das announced 40 basis points cut in repo rate to 4 percent. It is the rate at which the RBI lends funds to commercial banks. The move came in the wake of COVID-19-related relief measures. Banks all set to drop FD rates as the RBI has cut interest rates. Here are some banks with high FD rates compiled by BankBazaar.com. (Image: PTI)
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Ujjivan Small Finance Bank | 2 to 3 years: 7.5 percent | 3 to 5 years: 6.75 percent | Rates with effect from May 2. (Image: Moneycontrol)
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Suryoday Small Finance Bank | 2 to 3 years: 7.5 percent | 3 to 5 years: 9 percent | Rates with effect from May 1. (Image: suryodaybank.com)
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Jana Small Finance Bank | 2 to 3 years: 8 percent | 3 to 5 years: 7.5 percent | Rates with effect from May 15. (Image: Moneycontrol)
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Fincare Small Finance Bank | 2 to 3 years: 8.5 percent | 3 to 5 years: 9 percent | Rates with effect from April 27. (Image: fincarebank.com)
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AU Small Finance Bank | 2 to 3 years: 7.53 percent | 3 to 5 years: 7.25 percent | Rates with effect from April 15. (Image: Wikipedia)
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RBL Bank | 2 to 3 years: 7.25 percent | 3 to 5 years: 7.5 percent | Rates with effect from May 16. (Image: PTI)
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IDFC First Bank | 2 to 3 years: 7.25 percent | 3 to 5 years: 7.25 percent | Rates with effect from May 1. (Image: Moneycontrol)
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DCB Bank | 2 to 3 years: 7.35 percent | 3 to 5 years: 7.35 percent | Rates with effect from May 7. (Image: Moneycontrol)
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IndusInd Bank | 2 to 3 years: 6.75 percent | 3 to 5 years: 6.75 percent | Rates with effect from March 24. (Image: Reuters)
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Yes Bank | 2 to 3 years: 7.25 percent | 3 to 5 years: 7 percent | Rates with effect from May 1. (Image: Reuters)
