New Delhi, Business Desk. The increase in the interest rates by RBI has increased the burden of the borrowers on one hand, while on the other hand, the interest rates of FD have increased. After increasing the RBI repo rate, many finance companies are paying more interest on FD than the major banks of India. The interest rates of corporate FDs are higher from 1.75 per cent to 3 per cent. So let’s know where the percentage of interest is getting higher.
The hike in interest rates by corporate finance companies will benefit more people who save their money. Fixed deposits (FDs) from various finance companies like HDFC, PNB Housing Finance and Bajaj Finance are quite popular because of their good interest rates. Their rates are higher by 1.75 to 3 percent as compared to big banks. After increasing the repo rate, HDFC, PNB Housing Finance and Bajaj Finance have increased the deposit rate by 0.1 to 0.25 percent for different time periods.
HDFC, PNB Housing Finance and Bajaj Finance
Let us tell you that HDFC has increased the deposit rate by 0.2 percent for 12 to 36 months. It has also increased by 0.1 percent for 36 to 120 months. Bajaj Finance has increased the deposit rate by 0.25 percent for a period of one to five years. At the same time, PNB Housing Finance has increased the rate by 0.25 percent for all time periods except the maturity time period of 48 to 59 months. At the same time, Bajaj Finance is giving 7.20 percent interest for a time period of five years up to Rs 5 crore. Apart from this, the interest rate on HDFC with a tenure of 5 to 10 years on FDs less than 2 crores is 5.75 percent.
Credit: www.jagran.com /