Nainital Bank raises FD rates up to 7.10%, celebrates 100 years of existence

Nainital Bank increased interest rates on fixed deposits under Rs. 2 crore. The new rates will go into effect on January 1, 2023, according to the bank's official website. After the announcement, the bank is now promising interest rates with tenors ranging from 7 days to 10 years and 3.25 per cent to 5.35 per cent. The bank has additionally introduced the New Scheme Naini 2023 Deposit, on which it guarantees to provide a maximum standard rate of 7.10 per cent.

Nainital Bank Limited was founded in 1922, and as the year 2022 comes to an end today, the bank has successfully completed its 100-year history.

On deposits that mature in the next 7 days to 45 days, the bank is offering an interest rate of 3.25 per cent, and Nainital Bank is offering an interest rate of 4.25 per cent on deposits that mature in the next 46 days to 179 days. Nainital Bank is giving an interest rate of 4.95 per cent for tenors of 180 days or more but less than 270 days, and a rate of 5.05 per cent for tenors of 270 days or more but less than one year.

The interest rate on deposits that mature in one year or more but less than or equal to 18 months is currently 6.60 per cent, while the interest rate on deposits that mature in more than 18 months but less than three years is currently 6.25 per cent. The bank now offers an interest rate of 5.75 per cent on deposits maturing after 3 years but before 5 years, and Nainital Bank now offers an interest rate of 5.35 per cent on deposits maturing after 5 years but before 10 years.