Just a day after the Reserve Bank of India (RBI) decided to keep the repo and reverse repo rates unchanged, two banks have revised their interest rates being offered on Fixed Deposits.
On Friday, Central Bank of India and UCO bank tweaked the Fixed Deposit (FD) interest rates for amounts below Rs 2 crore. The new rates will be effective from February 10, 2022.
The Central Bank of India website states that the new rates will apply to FD accounts having an amount less than Rs 2 crore. As per the revised rates, these FDs will now earn interest at the rates of 2.75 per cent to 5.15 per cent across different tenures.
Central Bank of India revised FD rates
An FD with a tenure between 7-14 days will get 2.75 per cent, between 13-45 days will fetch 2.90 per cent. FDs with tenures between 45-90 days will fetch 3.25 per cent. Deposits maturing in 91-179 days will receive an interest of 3.80 per cent. Deposits maturing in 180 to 364 days will get 4.25 per cent interest. The
For deposits maturing in 1 year to less than 2 years, the bank will offer 5 per cent interest rate while 5.10 per cent rate FDs between 2 years to less than 5 years. Meanwhile, deposits maturing between 5 years and 10 years will now earn an interest rate of 5.15 per cent.
UCO Bank revised FD rates
Under the revised rates by UCO bank, term deposits of less than Rs 2 crore maturing between 1 -3 years will fetch a maximum interest rate of 5.10 per cent. Senior citizens will receive 5.60 per cent for the same tenure and amount. For tenures more than 3 years and less than 5 years, the rate offered will be 5.30 per cent. FDs of more than 5 years will earn 5.10 per cent interest rate.
