in the last two months Many public sector banks (PSUs) have changed their fixed deposit (FD) interest rates. Union Bank, Bank of India, Punjab National Bank and many other banks are among the banks that changed the interest rates of fixed deposits in the month of August. After the change in interest rates, Union Bank of India is offering the highest interest rate of up to 7.40% per annum on FDs of 333 days. At the same time, senior citizens (aged 60 years and above) are being given 0.50% and super senior citizens i.e. persons above 80 years of age are being given 0.75% more interest on FDs.
Interest rates available on FD in banks
Interest Rates on FD in Public Sector Banks
SBI Special FD
State Bank of India (SBI) has launched a new limited term FD scheme called “Amrit Vrishti”. Amrit Vrishti scheme offers an attractive interest rate of 7.25% per annum on FDs of 444 days. Investment in this special FD can be made through bank branch, internet banking and YONO app.
Bank of India Special FD
Under the special deposit, Bank of India is giving 7.30% interest to ordinary citizens, 7.80% to senior citizens and 7.95% to super senior citizens. Senior citizens will get interest at the rate of 7.80 percent on depositing Rs 2 crore for 666 days.
Bank of Baroda Special FD
Bank of Baroda has come up with Monsoon Dhamaka Deposit Scheme. In this special FD scheme, interest is being given at the rate of 7.25% per annum for 399 days and 7.15% for 333 days.
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