On FDs of 91 days to 119 days and 120 days to 180 days, the bank is offering 3.5 percent and 3.75 percent interest respectively.
4 percent interest will be available on deposits of 181-270 days. Similarly, the rate of interest on FDs with maturities of 271-364 days and up to 1 year is 4.25 per cent and 5 per cent. The bank will now give 4.9 percent interest on FDs from 1 year to 5 years.
Half percent more interest
to senior citizens 0.5 percent more interest is being offered by Bank of Maharashtra to senior citizens on deposits of up to Rs 2 crore for 91 days and above. Earlier, the bank had announced an increase in the interest rates of the loan, which has become effective from May 10.
DA Hike latest news: Government employees can get good news soon. The government may increase the Dearness Allowance (DA) of the employees in July. At present, the employees are getting 34% dearness allowance. After the increase in the All India Consumer Price Index (AICPI Index), it is expected that the government will increase the dearness allowance significantly.
It is worth noting that the government gives dearness allowance twice a year. The government had recently increased the dearness allowance. It has been increased by 3 per cent to 34 per cent. Now once again it has to be increased. It is expected that this time it will be increased by 4 percent instead of 3 due to increase in inflation.
DA is available twice a year,
dearness allowance is given to central employees twice. First in the month of January and second in July. In the last few days, the inflation rate has jumped a lot. There was a slight fall in the All India Consumer Price Index (AICPI Index) in January and February.
In January it was at 125.1 points, which came down to 125 in February. But, in March, the All India Consumer Price Index increased and it has reached 126. If this index increases even further, then the government will also have to increase the DA of the employees.
50 lakh employees will be benefited
At the beginning of this year, the government has increased the DA once. Presently DA is 34 per cent. If the government increases this by 4 percent, then it will become 38 percent. This decision of the government will benefit more than 50 lakh government employees and 65 lakh pensioners.
Salary will increase so much
the employees whose basic salary is Rs 56,900, they will get DA of Rs 21,622 if there is 38 percent dearness allowance. At present, Rs 19,346 is being received at the rate of 34 percent. The increase in DA by 4 percent will increase the salary by Rs 2,276. That is, about Rs 27,312 will get more as salary annually.
