Interest rates

This Private Sector Bank Is Raising Interest Rates On Term Deposits: Check The Details

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

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