FD Interest Rates: For deposits of more than one year, the interest rate has been increased by 0.25 percent to 6.25 percent. The bank said in the statement that senior citizens will get additional interest of 0.5 percent on FD.
FD Interest Rate: Public sector Bank of Maharashtra (BOM) has given a gift to the customers making fixed deposits. The bank has increased the interest rate on FD by 1.25 percent. In a statement from Bank of Maharashtra, it was said that the new rates will be applicable from today i.e. October 12. The bank said that the increase in interest rate will be applicable on FD and special schemes of the bank. The bank said that the interest rate on deposits of 46 to 90 days has been increased by 1.25 percent. This will encourage individuals and business sectors to save more.
6.50 percent interest on one year deposit
The bank will give 6.50 percent interest on one year deposits. For deposits of more than one year, the interest rate has been increased by 0.25 percent to 6.25 percent. The bank said in the statement that senior citizens will get additional interest of 0.5 percent on FD. They will be given an attractive interest of 7.5 percent on special savings of 200 to 400 days. The bank said that the attractive interest rates provide a great option to both short-term and long-term saving customers.
Apart from this, Bank of Baroda (BoB) has increased the FD rate with five maturity periods up to one year by 50 bps. This public sector bank is offering a maximum interest of 7.25 percent (earlier 7.05 percent) on deposits of more than two years but less than three years. The new FD rates of the bank have become effective from October 9. Bank of Baroda has reduced the interest rate on ‘Tiranga Plus – 399 Days’ deposit to 7.15 percent.
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