After the decision of the Reserve Bank of India (RBI) to keep the policy rates unchanged, two public sector banks have revised their interest rates on fixed deposits (FD). Actually, two public sector banks Central Bank of India and UCO Bank have changed the interest rates of FD. The new rates have come into effect from February 10.
After the change, the minimum interest rate of Central Bank of India is 2.75 percent and the maximum interest rate is 5.15 percent. The interest rate is 2.75 percent for 7-14 days, 2.90 percent for 15-30 days, 2.90 percent for 31-45 days, 3.25 percent for 46-90 days, 3.80 percent for 91-179 days.
At the same time, the minimum interest rate of UCO Bank is 2.80 percent and the maximum interest rate is 5.60 percent. The interest rate is 2.80 percent for 7-29 days, 3.05 percent for 30-45 days, 3.80 percent for 46-90 days, 3.95 percent for 91-180 days, 4.65 percent for 181-364 days. 5.35 per cent for 1 year, 5.60 per cent for 1-2 years, 5.60 per cent for 2-3 years, 5.80 per cent for less than 3-5 years and 5.60 per cent for more than 5 years.
There have been changes in the FD rates of many banks
It is worth noting that recently, many major banks of the country like SBI, HDFC Bank, Kotak Mahindra Bank etc. have changed the interest rates on fixed deposits.