The Reserve Bank of India (RBI) chose to keep the repo and switch repo rates unaltered once more in its every other month money-related arrangement meeting on April 8, 2022. Therefore, banks have expanded loan costs on fixed stores (FDs). Banks like State Bank of India (SBI), HDFC Endlessly bank of Baroda have as of late climbed FD rates.
Kotak Mahindra Bank hikes FD rates
Kotak Mahindra Bank has climbed FD paces of different residencies for sums under ₹2 crore. The new rates are compelling from April 12, 2022, as indicated by the Kotak Mahindra Bank site. After the most recent climb, the bank is giving loan costs going from 2.50% to 5.60% on stores developing in 7 days to 10 years.
| Time Period | Interest |
| 7 – 14 days | 2.50% |
| 15 – 30 days | 2.50% |
| 31 – 45 days | 2.75% |
| 46 – 90 days | 2.75% |
| 91 – 120 days | 3% |
| 121 – 179 days | 3.50% |
| 180 days | 4.50% |
| 181 days to 269 days | 4.50% |
| 270 days | 4.50% |
| 271 days to 363 days | 4.50% |
| 364 days | 4.75% |
| 365 days to 389 days | 5.10% |
| 390 days (12 months 25 days) | 5.2% |
| 391 days – Less than 23 months | 5.2% |
| 23 months | 5.25% |
| 23 months 1 day- less than 2 years | 5.25% |
| 2 years- less than 3 years | 5.3% |
| 3 years and above but less than 4 years | 5.45% |
| 4 years and above but less than 5 years | 5.50% |
| 5 years and above up to and inclusive of 10 years | 5.60% |
HDFC Bank hikes FD rates
Private moneylender HDFC Bank has expanded the loan fees on fixed stores of under ₹2 crores on certain residencies, as indicated by the bank’s site. The new fixed store (FD) rates are impacted from 6 April 2022. HDFC Bank offers 2.50 percent to 5.60 percent loan costs on stores developing in 7 days to a decade for the overall population.
| Time Period | Interest |
| 7 – 14 days | 2.50% |
| 15 – 29 days | 2.50% |
| 30 – 45 days | 3% |
| 61 – 90 days | 3% |
| 91 days – 6 months | 3.5% |
| 6 months 1 day – 9 months | 4.4% |
| 9 months 1 day < 1 Year | 4.4% |
| 1 year – | 5.10% |
| 1 year 1 day – 2 years | 5.10% |
| 2 years 1 day – 3 years | 5.20% |
| 3 years 1 day- 5 years | 5.45% |
| 5 years 1 day – 10 years | 5.60% |
Bank of Baroda hikes FD rates
Bank of Baroda (BoB) has raised loan costs on fixed stores (FDs) with an impact from March 22 for stores of under ₹2 crores. After this correction, the Bank of Baroda’s most recent FD loan fees go from 2.80 percent to 5.55 percent for developments between 7 days and 10 years.
| Time Period | Interest |
| 7 days to 14 days | 2.80% |
| 15 days to 45 days | 2.80% |
| 46 days to 90 days | 3.70% |
| 91 days to 180 days | 3.70% |
| 181 days to 270 days | 4.30% |
| 271 days & above and less than 1 year | 4.40% |
| 1 year | 5.00% |
| Above 1 year to 400 days | 5.20% |
| Above 400 days and up to 2 Years | 5.20% |
| Above 2 Years and up to 3 Years | 5.20% |
| Above 3 Years and up to 5 Years | 5.35% |
| Above 5 Years and up to 10 Years | 5.35% |
| Above 10 years (for MACT/MACAD% Court Order schemes only) | 5.10% |
Disclaimer:- Whatever information is given is for educational purposes only and all the information given is taken from the entire official website.