Fixed deposits that have long been a safe bet for most of the traditional investors have in today's arena lost much of their sheen due to other safer investment bets providing far better returns.
Few of the banks that have made the revision with FD rates are provided here:
|Bank||FD Amount||Tenure||Old FD rate||New FD rate|
|Bank of Baorda||1 year||7%||6.90%|
|Bank of Baorda||3 years to less than 5 year||6.50%||6.75%|
|SBI||2 years to less than 3 yrs||6.75%||6.25%|
|SBI||3 years to 10 yrs||6.50%||6.25%|
|Kotak Mahindra||1 year to 3 year||6.25%||6.50%|
|Axis Bank||1 year to 1.5 yr||6.25%||6.50%|
How upward revision in FD rates can profit you?
Though it is a time when interest rates are constantly falling, ideally you shouldn't be making an FD investment. Nevertheless if FDs interests you as a safe instrument, make a better choice in respect of the return as to which maturity term fetches you higher returns. Alternatively, without compromising on the standing and overall worthiness of the bank, you can also look for FD offerings by new banks with higher rate of interest.