The bank is offering 8 percent interest to the general public under this special scheme. An additional 0.50 percent interest is paid to senior citizens. Subscription of this special FD plan can be taken till November 30.

Here is the revised FD rates

The bank has announced the revision saying that FDs maturing in 7 to 14 days from November 1 will get an interest of 4 per cent. 4.50 interest will be available on FD of 15 to 59 days. 5 percent interest will be given on FDs maturing in 15 to 59 days. Interest of 5.25 percent will be given on FDs maturing in 91 to 182 days.

Here are the new rates

The bank is offering 5.50 percent interest on FDs ranging from 183 days to one year. 6.60 per cent interest is being offered on FDs maturing in less than 2 years from 1 year and 1 day. Interest of 7.25 percent is being given on FDs maturing in 2 years to 998 days. Now 8 percent interest is being given on FDs maturing in 999 days. Apart from this, an interest of 7.25 percent is being given on FDs maturing in 1000 days or less than 3 years. 5.75 percent interest will be available on FDs of 3 years to less than 5 years. Interest of 5.25 percent is being given on FDs of 5 to 10 years.

Senior citizens will get extra interest

The bank is giving an extra 0.50 percent interest from the normal rates to the senior citizen FD account holder. These rates will be applicable for all FDs of Rs 2 crore or less. ESAF Small Finance Bank has told on its official website that all these rates will be applicable on FDs less than 2 crores. These revised rates of FD will be available to new FDs and renewing FDs only.

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This is the lowest level in four decades. For the financial year 2020-21, the rate of interest on EPF was 8.5 percent. The impact of this decision of the government will be on 65 million subscribers i.e. 6.5 crore jobseekers. In order to keep it attractive amid the declining interest rate, the government is considering increasing the limit of investment in the stock market from the EPFO ​​fund. An important meeting of the EPFO ​​Central Body of Trustees is going to be held at the end of this month, in which a decision can be taken on this idea.

At present, a maximum of 15 percent of the EPFO ​​fund can be invested in the stock market. According to the report published in the Economic Times, it has been proposed by the EPFO ​​to increase this limit to 25 percent. In fact, debt funds are not getting the required returns, in such a situation, efforts are being made to get the targeted return by increasing investment in equities.

Decision will be taken in the meeting of Central Body of Trustees

An important meeting of the Finance Investment and Audit Committee was held two weeks ago to consider this proposal. The proposal which will be presented by this committee will be presented before the EPFO ​​Central Body of Trustees. A meeting of the Central Body of Trustees is proposed in the last month of June. After the discussion on the proposal in this meeting, it will be sent to the Labor and Finance Ministry for final approval.

The idea is to increase it in two phases

According to the report, the investment committee has decided to increase it in two phases. It has been suggested to increase the limit of 15 per cent to 20 per cent first and then to 25 per cent. Explain that Employee Provident Fund Organization invests in the stock market with the help of ETFs.

The rate of interest was reduced to 8.1 percent

In the month of March, the Central Board of Trustees decided to reduce the rate of interest on EPFO ​​to 8.1 percent for the financial year 2021-22. Its effect will be on 65 million subscribers. This interest rate is the lowest since 1977-78. At that time the interest rate was 8 percent. The interest earned on Provident Fund is still higher than any other fixed income scheme.

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