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Central Bank of India and UCO Bank have revised interest rates on fixed deposits (FD). The revision in the interest rates came after the Reserve Bank of India (RBI), which kept the repo and reverse repo rates unchanged in its bi-monthly monetary policy review announced on February 10. As a result, the repo and reverse rates remain at 4% and 3.35 per cent, respectively.

The revised interest rates are applicable on fixed deposit investments worth up to 2 crore. The rates are effective from 10 February 2022.

Central Bank of India latest FD interest rates

Investors can earn an interest rate of 2.75 per cent for FDs with a tenure between 7-14 days. On the other, investors can earn interest at a 2.90 per cent rate for term deposits between 13-45.

Meanwhile, the Central Bank of India’s fixed deposits with tenures between 45-90 days will fetch investors interest at a 3.25 per cent rate while deposits with tenure between 91-179 days will get an interest of 3.80 per cent, Deposits maturing in 180 to 364 days will now earn 4.25 per cent interest. The Central Bank of India is now offering interest rates of 5% on deposits maturing in 1 year to less than 2 years and 5.10% on 2 years to less than 5 years. 

UCO Bank FD rates

FDs maturing in 1 to 3 years will give a maximum return of 5.10 per cent, the bank noted. For tenures above 3 Years and less than 5 Years, the interest rate offered is 5.30%

 

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