Super Special FD Scheme: This Bank has launched Super Special FD Scheme. In this, additional 0.50 percent more interest will be given for senior citizens.
Bank Of India Fixed Deposit Scheme: Bank Of India has introduced a scheme for super special fixed deposits with an attractive interest rate of 7.50% per annum. This offer is available to both existing customers and general public, but only for deposits between Rs 2 crore and less than Rs 50 crore. The specific maturity period of fixed deposit is 175 days, which has started from January 1, 2024.
Super Special Fixed Deposit provides an excellent opportunity for high net worth individuals (HNIs) and corporates to invest their extra money for short-term.
With a higher yield of 7.50% per annum for a tenure of 175 days, this fixed deposit is one of the most attractive options for investment. This is better than other fixed deposit options of similar tenure.
Let us tell you, this special fixed deposit is exclusively for domestic rupee fixed deposits. It is also worth noting that this offer is limited and is available only for a certain period.
Senior citizens aged 60 years and above but below 80 years will get an additional interest of 0.50% on their retail fixed deposits (less than Rs 2 crore) for a tenure of 6 months and above, up to 3 years.
On the other hand, very senior citizens aged 80 years and above will be eligible for an additional interest rate of 0.65% on the same retail fixed deposits for the same tenure limit.
Recently SBI has increased the interest rates on fixed deposits and this interest rate is applicable on FDs of less than Rs 2 crore. With this, Federal Bank, Kotak Mahindra Bank and DCB Bank increased the interest rates on their fixed deposits in December 2023.
According to the information given on the website, Axis Bank has also revised its fixed deposit interest rates for amounts less than Rs 2 crore.
The rate hike has come despite the Reserve Bank of India (RBI) keeping the key repo rate unchanged at 6.5% for the fifth consecutive time in the MPC meeting on December 8.
