Axis Bank, Canara Bank and City Union Bank have hiked their fixed deposit rates effective from 5th April 2023
Fixed deposits (FDs) are a popular investment choice as they offer capital protection along with guaranteed returns. The following banks hiked the interest rates on selective FD just ahead of RBI Monetary policy meet which happened today (April 6)
Axis Bank has altered the interest rates on fixed deposits under ₹2 crore. Interest rates on deposits maturing in 7 days to 10 years
General Citizens - 3.50% to 7.00%
Senior Citizens - 6.00% to 7.75%
Canara Bank has hiked interest rates on fixed deposits under Rs 2 crore.
Interest rates on deposits maturing in 7 days to 10 years
General Citizens - 4% to 7.25%
Senior Citizens - 4% to 7.75%
City Union Bank has hiked its interest rates on fixed deposits of less than ₹2 Cr.
Interest rates on deposits maturing in 7 days to 10 years
General Citizens - 5% to 6.25%
Senior Citizens - 5% to 7.50%