The interest rate on term deposits below ₹2 crore was raised by Nainital Bank. The bank issued this statement on May 25, 2022. Following the change, the bank will continue to offer an interest rate of 3.25% on deposits with terms of 7 to 45 days and an interest rate 4.25% on deposits with a term of 46 to 179 days. The bank will continue to pay an interest rate of 4.95% on deposits of 180 days or more but less than 270 days, and an interest rate of 5.05% on deposits of 270 days or more but less than a year.
The bank increased the interest rate on deposits of one year or more but less than or equal to 18 months from 5.10% to 5.20%, and the interest rate on deposits of more than 18 months but less than or equal to 3 years will be 5.35%. The interest rate on term deposits of more than 3 years but less than or equal to 5 years has been raised from 5.35% to 5.40%. The interest rate on deposits older than 5 years but less than or equal to 10 years will remain at 5.35%. The bank will offer an interest rate of 6.10% on the Naini Tax Saver program.
For the benefit of the elderly, the bank mentioned on its website that “Branches may continue to pay an additional 0.50% interest on domestic term deposits below Rs. 2.00 crore to the elderly for all tenors in terms of existing guidelines, except under the Naini tax savings scheme. »
Nainital Bank FD Rates
7 days to 14 days – 3.25%
15 days to 30 days – 3.25%
31 days to 45 days – 3.25%
46 days to 90 days – 4.25%
91 days to 179 days – 4.25%
180 days or more but less than 270 days – 4.95%
270 days or more but less than 1 year – 5.05%
1 year and over but less than or equal to 18 months – 5.20%
More than 18 months but less than or equal to 2 years – 5.35%
More than 2 years but less than or equal to 3 years – 5.35%
More than 3 years but less than or equal to 5 years – 5.40%
More than 5 years but less than or equal to 10 years – 5.35%
Naini Tax Savings Program – 6.10%
Source: Bank website. Wed May 25, 2022
