According to the bank, this special FD scheme will be for 400 days. In this, common people will get interest at the rate of 7.30%.
In the festive season , Bank of Baroda (BOB) has come up with a special FD scheme for its investors. This scheme has been named ‘Utsav Deposit Scheme’. According to the bank, this special FD scheme will be for 400 days. In this, common people will get interest at the rate of 7.30%. At the same time, senior citizens will be given interest at the rate of 7.80% i.e. an additional 50 basis points on this scheme. Super senior citizens have the opportunity to get interest at the rate of 7.90%.
How much interest is being received on other schemes
Interest rates on other tenures will remain the same. Bank of Baroda offers the highest interest rate of 7.15 per cent on deposits with tenures between 2 to 3 years (except for BOB Utsav Deposit Scheme). The bank offers 7 per cent interest on deposits with tenures between 1 year to 2 years. When the tenure is between 3-5 years, the bank offers 6.8 per cent interest on fixed deposits. When it is between 5-10 years, the bank offers 6.5 per cent interest. Apart from this, depositors get 6.85 per cent interest on 1-year FDs.
Also Read- EPF Balance Check: You can know your bank account balance while sitting at home, know how here
Know these things before making an FD
If you are thinking of making an FD, then compare the interest rates offered by the banks. Then choose the period according to your financial goal. Make an FD in the bank that gives higher interest. By doing this you will be able to get higher returns on FD. If possible, do not invest the entire amount in a single FD. Invest the money in two or three FDs for different tenures.
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