Union Financial institution, Financial institution of India, Punjab Nationwide Financial institution, and different banks have revised their fastened deposit rates of interest in August.Among the many scheduled public sector banks, Union Financial institution of India gives the best fastened deposit rates of interest, providing as much as 7.40% p.a. on a tenure of 333 days. Senior residents (aged 60 years and above) can earn a further 0.50% p.a., whereas tremendous senior residents can earn 0.75% increased charges, in accordance with an ET report.
Supply: Paisabazaar; rates of interest as on August 7, 2024 as quoted by ET
Financial institution of India has launched a particular deposit scheme the place common residents can earn 7.30% curiosity, senior residents can get 7.80%, and tremendous senior residents can obtain 7.95% for deposits as much as Rs 2 crore with a tenure of 666 days.
Financial institution of Baroda has launched the “BoB Monsoon Dhamaka Deposit Scheme,” which gives rates of interest of seven.25% every year for 399 days and seven.15% for 333 days. This scheme, relevant to retail deposits beneath Rs 3 crore, commenced on July 15, 2024.
“Amrit Vrishti,” a brand new time period limited-period deposit scheme, has been launched by the State Financial institution of India (SBI). This FD scheme gives increased rates of interest and is obtainable to each home and non-resident Indian prospects.
The scheme grew to become efficient on July 15, 2024, and might be booked via branches, web banking, and YONO Channels.