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This 102-year-old private sector bank revises fixed deposit interest rates

Following the revision, the CSB Bank now offers an interest rate ranging from 3.00% to 6.00% on deposits maturing in 7 days to 10 years, but will only give a maximum interest rate of 7% on deposits that mature in 555 days.Premium
Following the revision, the CSB Bank now offers an interest rate ranging from 3.00% to 6.00% on deposits maturing in 7 days to 10 years, but will only give a maximum interest rate of 7% on deposits that mature in 555 days.

  • The oldest private sector bank in Kerala, CSB Bank Limited, which was founded in 1920 as The Catholic Syrian Bank Limited, has been in operation since November 1920.

The oldest private sector bank in Kerala, CSB Bank Limited, which was founded in 1920 as The Catholic Syrian Bank Limited, has been in operation since November 1920. The interest rates on fixed deposits under 2 Cr have been changed by this private sector bank with a 102-year existence. According to the bank's official website, the new interest rates are effective as of October 3, 2022. Following the revision, the bank now offers an interest rate ranging from 3.00% to 6.00% on deposits maturing in 7 days to 10 years, but will only give a maximum interest rate of 7% on deposits that mature in 555 days.

CSB Bank FD Rates

The bank will now give an interest rate of 3.00% on fixed deposits maturing in the next 7 days to 90 days, while CSB Bank is also offering an interest rate of 3.50% on fixed deposits maturing in the next 91 days to 179 days. A fresh interest rate of 4.25% will be offered on deposits maturing in 180 days to less than a year, and a new interest rate of 5.00% will be offered on deposits maturing in a year. CSB Bank will now offer an interest rate of 5.50% on deposits that mature in above 1 year to less than 400 days and deposits that mature in 400 days will now fetch an interest rate of 6.00% at CSB Bank. 

The bank will now pay an interest rate of 5.50% on fixed deposits maturing in 400 days or more but less than 555 days, while CSB Bank will now pay a maximum interest rate of 7% on deposits maturing in 555 days. Fixed deposits with maturities of more than 555 days to two years will now pay 5.50% interest, while those with maturities of more than two years to five years will now pay 5.75% interest. The bank will now provide fixed deposits maturing in excess of five years and up to ten years at an interest rate of 6.00%.

CSB Bank FD Rates
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CSB Bank FD Rates (csb.co.in)

For older individuals who are residents of India, CSB Bank offers Acharya Deposits, on which the bank provides a higher interest rate benefit. CSB Bank offers senior citizens interest rates ranging from 4.75% to 6.50% on deposits maturing in 180 days to 10 years. The bank will now provide elderly people with a maximum interest rate of 7% on Acharya Deposits maturing in 555 days.\

CSB Bank FD Rates
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CSB Bank FD Rates (csb.co.in)
ABOUT THE AUTHOR

Vipul Das

Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).
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