E-Paper
These companies have hiked interest rates on fixed deposits. Details here
The rates were hiked after the RBI, on August 5, raised the repo rate. The companies have revised regular interest rates for customers, as well as those for senior citizens.
After the Reserve Bank of India (RBI), on August 5, hiked the repo rate (by 50 basis points to 5.4%), several non-financial banking companies (NFBCs) also hiked their respective interest rates on fixed deposit (FDs). These companies have raised regular rates for customers, as well as those for senior citizens.
Here's a list of some companies that have, in recent days, announced a hike in their FD interest rates:
(1.) Shriram Transport Finance: On August 10, five days after the RBI's monetary policy announcement, Shriram Transport Finance revised its fixed deposit rates. The company is now offering FD at a regular rate of 8.25%, while, for senior citizens, the rate is 8.75%. However, these rates are being offered on FDs that will mature after 5 years.
(2.) Utkarsh Small Finance Bank: A week after the central bank's announcement, Utkarsh Small Finance Bank hiked interest rate on fixed deposits. The revised regular rate is 7.50%, while the rate for senior citizens is 8.25%.
These are applicable to deposits with maturity account of up to ₹2 crore, and period of 700 days to five years.
(3.) Jana Small Finance Bank: For FDs with a tenure of 3 days to 5 years, Jana Small Finance Bank is offering interest at a regular rate of 7.35% and at 8.15% for senior citizens.
