Axis, PNB HFL, SBI hike FD interest rates! Check how much return you will get from fixed deposit investments
Axis Bank, Punjab National Bank (PNB), and State bank of India (SBI) have increased the interest rates on certain fixed deposits.
New Delhi: Axis Bank, Punjab National Bank (PNB), and State bank of India (SBI) have increased the interest rates on fixed deposits, offering better returns to investors planning to save their money. The move from public and private sector banks come after the Reserve Bank of India (RBI) increased the repo rate by 50 basis points or 0.50% to 4.90%. Following the RBI’s move, several banks have increased the interest rates on fixed deposits. These lenders include IDBI Bank, Central Bank of India, ICICI, Yes, and IDFC First Bank, among others.
PNB Housing Finance Hikes FD interest rates
![PNB Housing Finance Hikes FD interest rates PNB Housing Finance Hikes FD interest rates](https://english.cdn.zeenews.com/sites/default/files/2022/06/15/1054005-untitled-design-5.jpg)
PNB Housing has increased FD interest rates by 10 bps to 25 bps, depending on the tenure of the deposit. The lender said that the new rates are effective from June 15, 2022. The new rates are applicable on deposits worth up to Rs 5 crore. With the revision in FD rates, investors can now receive returns ranging from 6 per cent to 7.25 per cent, depending on the tenure of the loans.
PNB Housing Finance FD Offers For Senior Citizens
![PNB Housing Finance FD Offers For Senior Citizens PNB Housing Finance FD Offers For Senior Citizens](https://english.cdn.zeenews.com/sites/default/files/2022/06/15/1054004-untitled-design-4.jpg)
Axis Bank Raises Fixed Deposit Interest Rate
![Axis Bank Raises Fixed Deposit Interest Rate Axis Bank Raises Fixed Deposit Interest Rate](https://english.cdn.zeenews.com/sites/default/files/2022/06/15/1054003-untitled-design-3.jpg)
Axis Bank has raised interest rates on fixed deposits, following in the footsteps of other lenders. The latest interest rates are applicable on fixed deposits up to Rs 2 crore, the private sector bank said. It is offering one of the highest returns at 5.75 per cent to the general public on FDs maturing in 5 years to 10 years.
Axis Bank Hikes Interest Rates on Saving Accounts
![Axis Bank Hikes Interest Rates on Saving Accounts Axis Bank Hikes Interest Rates on Saving Accounts](https://english.cdn.zeenews.com/sites/default/files/2022/06/15/1054002-untitled-design-2.jpg)