Personal Finance

THIS bank increases interest rates on fixed deposits: Details here | Personal Finance News

New Delhi: Nainital Bank has increased the interest rate on fixed deposits of less than Rs 2 crore. On May 25, 2022, the bank issued this declaration. The bank will continue to offer a 3.25 percent interest rate on deposits with terms of 7 to 45 days and a 4.25 percent interest rate on deposits with terms of 46 to 179 days as a result of the change. The bank will continue to pay 4.95 percent on deposits held for 180 days or more but less than 270 days, and 5.05 percent on deposits held for 270 days or more but less than one year.

The interest rate on deposits of one year or more but less than or equal to 18 months has been raised from 5.10 percent to 5.20 percent, and the interest rate on deposits of more than 18 months but less than or equal to 3 years has been raised to 5.35 percent. Fixed deposit interest rates have been raised from 5.35 percent to 5.40 percent for deposits of more than three years but less than or equal to five years. The interest rate on deposits with a maturity of more than five years but less than or equal to ten years will remain unchanged at 5.35 percent. The Naini Tax Saver Scheme will earn a 6.10 percent interest rate from the bank.

“Branches may continue to pay an additional interest of 0.50 percent on domestic term deposits of less than Rs. 2.00 crore to Senior Citizens for all tenors in terms of extant norms, except under the Naini Tax Saver Scheme,” according to the bank’s website.

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 and above but less than 270 days- 4.95%

270 days and above but less than 1 year- 5.05%

1 year and above but less than or equal to 18 months- 5.20%

Above 18 months but less than or equal to 2 years- 5.35%

Above 2 years but less than or equal to 3 years- 5.35%

Above 3 years but less than or equal to 5 years- 5.40%

Above 5 years but less than or equal to upto 10 years- 5.35%

Naini Tax Saver Scheme- 6.10%




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