Pradhan Mantri Mudra Yojana is also a scheme of this category. Under the scheme, banks give loans up to Rs 20 lakh to people at a cheap interest rate. The important thing is that this loan is collateral-free. Let us tell you that Finance Minister Nirmala Sitharaman announced to increase the loan limit to ₹ 20 lakh during the Union Budget 2024-25 on July 23, 2024. This new limit became effective on October 24, 2024.

Four category plans

Mudra loan scheme is in four categories- ‘Shishu’, ‘Kishore’, ‘Tarun’ and ‘Tarun Plus’. The loan amount is different for each category.

Shishu: Loans up to Rs 50,000/- are available.

Kishor: Loans available from Rs 50,000/- to Rs 5 lakh.

Tarun: Covers loans from Rs 5 lakh to Rs 10 lakh.

Tarun Plus: Loans ranging from Rs 10 lakh to Rs 20 lakh are available.

Which banks provide loans?

Under the Mudra Scheme, collateral free loans up to Rs 20 lakh are provided by Member Lending Institutions (MLIs) such as scheduled commercial banks, Regional Rural Banks (RRBs), Small Finance Banks (SFBs), Non-Banking Financial Companies (NBFCs), Micro Finance Institutions (MFIs) etc.

10 years old plan

Let us tell you that this scheme is from ten years ago. Mudra Yojana has helped in opening more than 52 crore loan accounts, which shows a steady increase in entrepreneurial activities. The share of teen loans has increased from 5.9 percent in FY 2016 to 44.7 percent in FY 2025. 68 percent of the total beneficiaries of Mudra Yojana are women. Between FY 2016 and FY 2025, the disbursement amount of Pradhan Mantri Mudra Yojana per woman increased by 13 percent year on year to Rs 62,679.

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The new interest rates of the bank have come into effect from September 1, 2023. The bank is offering 3.75 percent to 7.75 percent interest to general customers and 4.25 percent to 8.50 percent interest to senior citizens on Fixed Deposit for a period of 7 days to 120 months. DCB Bank is giving maximum interest of 8.50 percent to senior citizens.

The bank is now offering a maximum interest rate of 7.75 percent to general customers and 8.50 percent to senior citizens on FDs with tenure of 25 months and 37 months. The bank is giving 50 basis points i.e. 0.50 percent extra interest to senior citizens as compared to regular customers.

DCB Bank is giving this much interest on FD

The bank is now offering 3.75 percent interest on FDs with a period of 7 days to 45 days.

The bank is now offering 4.00 percent interest on FDs with a period of 46 days to 90 days.

The bank is now offering 4.75 percent interest on FDs with a tenure of less than 91 days to six months.

The bank is now offering 6.25 percent interest on FDs with a period of 6 months to 10 months.

The bank is now offering 6.90 percent interest on FDs with a period of 10 months to 12 months.

The bank is now offering 7.15 percent interest on FDs with a period of 12 months to 12 months and 10 days.

The bank is now offering 7.25 percent interest on FDs with a period of 12 months and 10 days.

The bank is now offering 7.15 percent interest on FDs with a period of 12 months 11 days to 18 months 5 days.

The bank is now offering 7.50 percent interest on FDs with a period of 18 months, six days to 700 days.

The bank is now offering 7.55 percent interest on FDs with a period of 700 days to 25 months.

The bank is now offering 7.75 percent interest on FD with a period of 25 months.

The bank is now offering 7.60 percent interest on FDs with a period of 25 months to 37 months.

The bank is now offering 7.75 percent interest on FD with a period of 37 months.

The bank is now offering 7.40 percent interest on FDs with a period of 37 months to 61 months.

The bank is now offering 7.65 percent interest on FD with a period of 61 months.

The bank is now offering 7.25 percent interest on FDs with a period of 61 months to 120 months.

The post FD Rate: This bank is giving 8.50% interest on FD to senior citizens, check interest rate first appeared on Rightsofemployees.com.

After repeatedly increasing the interest rates of the banks, the interest rates of FD are also attracting the customers to invest. Mostly all these banks are offering FDs ranging from 7 days to 10 years.

The bank is offering interest ranging from 3 per cent to 7.50 per cent to the general public. At the same time, banks are offering interest ranging from 3.50 per cent to 7.85 per cent to senior citizens.

Bank fd interest rate

Axis Bank is paying interest ranging from 3.5 per cent to 7.85 per cent on FD. Punjab National Bank is offering interest ranging from 3.50 per cent to 7.50 per cent on FD. ICICI Bank is offering interest ranging from 3 per cent to 7.6 per cent. Here you are telling the interest rate of top 10 banks.

The post Top 10 banks of the country are giving highest interest on FD, check interest rate first appeared on Rightsofemployees.com.