Business

This 100-year-old private sector bank raises fixed deposit rates

Private sector lender Nainital has raised interest rates on fixed deposits under 2 Cr. According to the bank’s official website, the new interest rate is effective as of September 3, 2022. After the amendment, the bank increased interest rates on fixed deposits with a term of 1 year or more. up but also less than or equal to 18 months. as added new term named Naini Utkrisht Term Deposit Scheme – 605 days.

Nainital Bank FD Rates

For fixed deposits with term from 7 days to 45 days, the bank will continue to apply the interest rate of 3.25% and for deposits with term from 46 days to 179 days, the bank will continue to offer an interest rate of 4.25%. Fixed deposits with a term of 180 days or more but less than 270 days will continue to receive interest at 4.95% and deposits with a term of 270 days or more but under 1 year will continue to receive interest at 5.05 %.

For fixed deposits with a term of 1 year or more but less than or equal to 18 months, Nainital Bank increased the interest rate from 5.55% to 5.75%, an increase of 20 bps and the bank added a new term called Naini Utkrisht Term Deposit Scheme. – 605 days, customers will enjoy the highest interest rate of 6.05% on their deposit. An interest rate of 5.60% will continue to be applied to fixed deposits with a term of 18 months to 5 years and an interest rate of 5.35% will be applied to deposits with a term of 5 years but less than or equal to 10 years. The bank will continue to pay 5.75% interest on the Naini Tax Savings Program for 5 years.

Nainital Bank FD Rates

See full image

Nainital Bank FD Rates (nainitalbank.co.in)

“The new program Naini Utkrisht 605 Days Deposit was introduced on wef 03.09.2022. Note: This program is only valid for 60 days and all terms and conditions will remain the same. The term deposit according to this table is non-renewable and the deposit amount will be credited to the customer’s account upon maturity,” said Nainital Bank while launching the Naini Term Deposit Program. Utkrisht.

For the benefit of the elderly, Nainital Bank mentioned on its website that “Branches may continue to pay an additional interest of 0.50% on domestic term deposits under Rs. 2.00 crore for Senior Citizens for all terms under existing guidelines, except under the Naini Tax Savings Scheme. “

“We reiterate that in the case of early payment of term deposits, the interest rate will be 1% lower than the interest rate applicable for the remaining period of the deposit with the bank in accordance with current guidelines. ,” Nainital Bank says on its website.

Catch them all Business newsletter, Market News, Hot news Events and Latest news Update on Live Mint. Download Mint News app to get Daily Market Updates.

Than
Less than

Register Mint Newsletter

* Enter a valid email

* Thank you for subscribing to our newsletter.

Post your comment

Source link

news5s

News5s: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, Sports...at the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Back to top button