Fixed Deposit: Investors can get 7 to 7.25 percent interest by doing FD in these government banks. For senior citizens, interest can be taken from 7.5 to 7.75 percent on FD scheme.
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Fixed Deposit Benefits: If you invest, you can get double benefit by making fixed deposits in these government banks. The Fixed Deposit (FD) scheme run in public sector banks in the country is getting more returns than before. After the increase in the repo rate, the FD rate also continues to increase. State Bank of India, the country’s largest public sector bankState Bank of India) had announced an increase in FD rate a few days ago. In the new SBI rates applicable from October 22, customers are getting 80 basis points more interest on FDs. In this way State Bank gives 6.25% on FDs of 2 to 3 years to the general public and 6.25% to senior citizens (senior citizens) is paying a maximum of 6.90% interest on FDs of 5 to 10 years. Along with this, tax exemption is also being given for investment up to Rs 1.5 lakh. Due to which you can get double benefit.
FDs in public sector banks are still considered the most popular investment option in the country. This is because there is no risk involved with fixed returns. The country’s largest public sector bank SBI (SBI) increased 80 basis points on FDs in October. Similarly, Bank of Baroda (BOB), Punjab National Bank (PNB) and Canara Bank have started Special FD Schemes with attractive interest rates. Along with this, he is also giving tax exemption on investment of Rs 1.5 lakh. From which you can earn well.
Investors can get 7 to 7.25 percent interest by doing FD in these government banks. For senior citizens, interest can be taken from 7.5 to 7.75 percent on FD scheme. Interest rates on FD keep changing frequently, so it would be better to compare the interest rates of different banks. After this, earn good profit by investing.
Bank of Maharashtra is giving so much interest
Let us tell you that Bank of Maharashtra (BoM) has revised its interest rates on retail FDs of less than 2 crores and implemented new rates. After the revision in interest rates, the interest rate on FDs maturing in a period of 7 days to 5 years ranges from 2.75% to 5.75%. Apart from this, Bank of Maharashtra is now giving maximum interest rate of 6.30% on 400 days in ‘Maha Dhanvarsha Deposit Scheme’. The bank is paying 2.75% interest on FDs maturing in 7 days to 30 days.
Interest may increase again
Banks have not yet given the full benefit of the increase in interest rates to the customers. Experts say that interest rates on FDs may increase further in the coming days. Inflation still remains at a high level. To prevent this, Central Banks around the world can further increase the interest rates. If this happens, FD interest rates may increase. The Central Bank of America and England have increased the interest rates. In the coming days, banks of many other countries can also do this.
English News Headline : Double benefit on Fixed Deposit of these government banks.
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