Nainital Bank raises FD rates up to 7.10%

The interest rate on fixed deposits under Rs. 2 crore raised at Nainital Bank. On January 1, 2023, the new rates will become effective, according to the bank’s official website. The bank is now providing interest rates with tenors ranging from 7 days to 10 years and 3.25 percent to 5.35 percent as a result of the announcement. Additionally, the bank has launched the New Scheme Naini 2023 Deposit, on which it promises to offer a maximum standard rate of 7.10%.

As the year 2022 comes to a conclusion today, Nainital Bank Limited, which was established in 1922, has successfully completed its first 100 years of existence.

Nainital Bank

The bank is offering a 3.25 percent interest rate on deposits that mature in the next seven to forty-five days, and Nainital Bank is offering a 4.25 percent interest rate on deposits that mature in the next forty-six to one hundred and eighty-nine days. For tenors of 180 days or more but fewer than 270 days, Nainital Bank offers an interest rate of 4.95 percent; for tenors of 270 days or more but fewer than one year, the rate is 5.05 percent.

Currently, there is a 6.60 percent interest rate on deposits that mature in a year or more but less than or equal to 18 months, and a 6.25 percent interest rate on deposits that mature in a year or more but less than three years. On deposits maturing after three years but before five years, the bank now gives an interest rate of 5.75 percent, and Nainital Bank also offers an interest rate of 5.35 percent on deposits maturing after five years but before ten years.

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