FD Interest Rates Plunge! Which banks are aware of this notification?

FD Interest Rates: Some banks have now started reducing interest rates on their FD schemes. If you want to invest in FD, you need to know which banks have reduced their interest rates.

RBI has been steadily raising interest rates for the past few months. As a part of this, interest rates on FD schemes known as Fixed Deposits have increased significantly.

Axis Bank Axis Bank has implemented a reduction of 20 basis points on the interest rate for its Single-tenure Fixed Deposit schemes. Axis Bank will now range from 3.5% to 7.10% depending on the tenure of 7 days to 10 years.

Punjab National Bank Punjab National Bank has reduced interest rates on its single tenures fixed deposit schemes, especially for schemes below Rs 2 crore. As a result, the interest rate on fixed deposits with 1-year tenure has been reduced by 0.05% to 6.75%.

Union Bank of India In November 2022, the bank offered higher interest rates of 7.30% for the general public, 7.80% for senior citizens, and 8.05% for super seniors on FD schemes.

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