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On March 21, 2024, the new FD interest rates go into effect. After the change, the bank now gives regular residents interest rates on deposits maturing in seven days to ten years, ranging from 3% to 8%. The bank gives an additional spread of 0.50% p.a. over the aforesaid rate to elderly citizens; the interest rate ranges from 3.50% to 8.50%.
There are two methods of calculating interest on a fixed deposit, and they are: Simple Interest Method. Under this method, you multiply the principal amount, interest rate and tenure to get the result. The formula is: Simple Interest (SI) = P (Principal amount) x R (Rate of interest) x T (Tenure) divided by 100 or P x R x T/100.
Jan 24, 2022 · ICICI Bank has recently updated its interest rates on deposits of less than Rs. 2 crore, effective January 20, 2022. The modified rates are shown below. Tenors. Regular. Senior Citizens. 7 days to ...
Jul 4, 2023 · The bank now offers a 3.50% interest rate on fixed deposits maturing in 7 to 29 days, while IDFC FIRST Bank also offers a 4.00% interest rate on deposits maturing in 30 to 45 days. A deposit tenor of 46 to 90 days will now earn interest at a rate of 4.50% from IDFC FIRST Bank, and a fixed deposit with tenor of 91 to 180 days will now earn ...
Jul 2, 2022 · IDFC First Bank has revised its fixed deposit interest rates across various tenures on deposits below Rs.2 crore. The new rates are applicable from July 1, 2022. Interest rates on fixed deposits maturing in 7 days to 10 years will now be in the range of 3.50 percent to 6.50 percent after the revision. Senior citizens will receive a special perk ...
Jul 18, 2022 · Interest rates on fixed deposits of less than ₹ 2 Cr have increased thanks to a private sector lender, IDFC First Bank. As of today, July 18, 2022, the new rates are in effect, according to the ...
Mar 22, 2024 · The interest rate on deposits at IDFC First Bank that mature in 1 year, 1 day to 499 days will now be 7.50%, while the highest rate of return on deposits that mature in 500 days will be 8%. On FDs ...
