In the second deposit scheme, 7.25% annual interest will be given on FD for 399 days. Senior citizens will be given interest at the rate of 7.75% per annum.

Bank of Maharashtra is also offering four special schemes

Bank of Maharashtra has launched four special deposit schemes for different periods. In this, one has to invest in FDs of 200 days, 400 days, 666 days and 777 days. The interest rate for 200-day deposit is 6.9%, for 400-day deposit the interest rate is 7.10%, for 666-day deposit the interest rate is 7.15% and for 777-day deposit the interest rate is 7.25%.

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BOB New FD Rates

• 7 days to 14 days – For general public: 4.25%; For senior citizens: 4.75%
• 15 days to 45 days – For general public: 6 per cent; For senior citizens: 6.50 per cent
• 46 days to 90 days – For general public: 5.50 percent; For senior citizens: 6 percent
• 91 days to 180 days – For general public: 5.60 percent; For senior citizens: 6.10 percent
• 181 days to 210 days – For general public: 5.75 per cent; For senior citizens: 6.25 per cent
• 211 days to 270 days – For general public: 6.15 percent; For senior citizens: 6.65 percent
• 271 days and above and less than 1 year – For general public: 6.25 per cent; For senior citizens: 6.75 per cent
• 333 days – (Monsoon Dhamaka Deposit Scheme) – For general public: 7.15 percent; For senior citizens: 7.65 percent
• 360 days (BOB 360) – For general public: 7.10 percent; For senior citizens: 7.60 percent
• 1 year – For general public: 6.85 percent; For senior citizens: 7.35 percent
• 399 days – (Monsoon Dhamaka Deposit Scheme) – For general public: 7.25 percent; For senior citizens: 7.75 percent
• More than 1 year to 400 days – For general public: 6.85 per cent; For senior citizens: 7.35 per cent
• Above 400 days and upto 2 years – For general public: 6.85 per cent; For senior citizens: 7.35 per cent
• Above 2 years and upto 3 years – For general public: 7.15 per cent; For senior citizens: 7.65 per cent
• Above 3 years and upto 5 years – For general public: 6.50%; For senior citizens: 7.00%
• Above 5 years to 10 years – For general public: 6.50 per cent; For senior citizens: 7.50 per cent
• Above 10 years (Court Order Scheme) – For general public: 6.25 per cent; For senior citizens: 6.75 per cent.

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BOB’s Monsoon Dhamaka Deposit Scheme

BOB Monsoon Dhamaka Deposit Scheme is available for two periods. Bank of Baroda is offering 7.25% annual interest for 399 days. At the same time, it is offering 7.15% interest on FD of 333 days. This scheme has started from 15 July 2024. These interest rates are applicable on retail deposits of less than Rs 3 crore.

According to the information released by Bank of Baroda on 15 July 2024, senior citizens will get 0.50% annual interest rate. Senior citizens will get 7.75% per annum interest for 399 days and 7.65% annually. BOB Monsoon Dhamaka FD is offering a maximum annual interest of 7.90% for 399 days.

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BOB’s new FD rates

• 7 days to 14 days – For general public: 4.25 percent; For senior citizens: 4.75 percent
• 15 days to 45 days – For general public: 6 per cent; For senior citizens: 6.50 per cent
• 46 days to 90 days – For general public: 5.50 percent; For senior citizens: 6 percent
• 91 days to 180 days – For general public: 5.60 percent; For senior citizens: 6.10 percent
• 181 days to 210 days – For general public: 5.75 per cent; For senior citizens: 6.25 per cent
• 211 days to 270 days – For general public: 6.15 per cent; For senior citizens: 6.65 per cent
• 271 days and above and less than 1 year – For general public: 6.25 per cent; For senior citizens: 6.75 per cent
• 333 days – (Monsoon Dhamaka Deposit Scheme) – For general public: 7.15 per cent; For senior citizens: 7.65 per cent
• 360 days (BOB 360) – For general public: 7.10 percent; For senior citizens: 7.60 percent
• 1 year – For general public: 6.85 percent; For senior citizens: 7.35 percent
• 399 days – (Monsoon Dhamaka Deposit Scheme) – For general public: 7.25 per cent; For senior citizens: 7.75 per cent
• More than 1 year to 400 days – For general public: 6.85 per cent; For senior citizens: 7.35 per cent
• Above 400 days and upto 2 years – For general public: 6.85 per cent; For senior citizens: 7.35 per cent
• Above 2 years and upto 3 years – For general public: 7.15 per cent; For senior citizens: 7.65 per cent
• Above 3 years and upto 5 years – For general public: 6.50%; For senior citizens: 7.00%
• Above 5 years to 10 years – For general public: 6.50 per cent; For senior citizens: 7.50 per cent
• Above 10 years (Court Order Scheme) – For general public: 6.25 per cent; For senior citizens: 6.75 per cent.

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State Bank Of India

SBI is offering 6.80% interest rate on FDs from 1 year to 2 years. Whereas, the FD rate under AMRIT KALASH is being offered at 7.10% for a period of 400 days.

HDFC bank

HDFC Bank is offering 6.60% interest rate on FDs of 1 year to less than 15 months. At the same time, it is offering 7.10% interest rate for FDs of less than 15 months to 18 months. The bank is offering the highest rate of 7.25% on FDs from 4 years 7 months to 55 months. This is a Limited Edition Bank FD.

ICICI Bank

ICICI Bank (ICICI Bank) is offering 6.70% interest rate for FDs of less than 1 year to 15 months for general citizens. The bank is offering the highest interest rate of 7.10% for FDs with tenures ranging from 15 months to less than 2 years. These rates are applicable from February 24, 2023.

Canara Bank

Canara Bank is offering the highest interest rate of 7.25% on FDs with a tenure of 444 days for general citizens. These rates are applicable from April 5, 2023.

Yes bank

Yes Bank is offering 7.50% interest rate on FDs of 1 year to less than 18 months. These rates are effective from May 2, 2023.

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By investing in which you can create a very big fund. Let us tell you that many banks in India are currently offering high-interest rates on Fixed Deposits (FDs), especially for senior citizens.

According to a media report, the increase in the repo rate by the Reserve Bank of India has led to an increase in FD interest rates, with some banks offering rates up to 9.50 per cent to senior citizens. While most major banks in the country offer interest rates on fixed deposits ranging from 3.50 per cent to 8 per cent, there are some small finance banks that offer higher rates.

Small banks are giving this much interest

For example, Utkarsh Small Finance Bank is paying the highest interest rate of 9 per cent to senior citizens for a tenure of 700 days, while 8.25 per cent is offered to ordinary citizens. Similarly, Unity Small Finance Bank offers 9 percent interest to general citizens and 9.50 percent interest to senior citizens with a tenure of 1001 days and 9.25 percent interest to senior citizens with a tenure of 501 days.

Pay special attention to this

You must keep in mind that before investing in Fixed Deposits of any bank, one should do due diligence to understand the level of safety and risk associated with the investment. It is recommended that investors take appropriate decisions only after thoroughly reviewing the financial position and credibility of the bank. Senior citizens who are planning to invest in Fixed Deposits should explore the various options available and choose the bank that offers the best returns while ensuring the safety of their investments.

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Fluctuations on Senior Citizens FD Interest Rate

Fixed Deposit (FD) is considered to be the safest investment option. Amidst high inflation and volatility in the stock market, many people are opting for Fixed Deposit (FD). You can invest in low-risk financial instruments from banks, non-banking financial institutions and post offices.

Senior citizens FD Interest Rate

Tamil Nadu Power Finance and Infrastructure Development Corporation Limited is one such government company which is offering very attractive interest rates on Fixed Deposits (FDs).

The company has decided to offer 8.5 percent interest rate to senior citizens customers. The company has currently offered two options as per the requirement of the investors. One is Non Cumulative Fixed Deposit and the other is Cumulative Fixed Deposit.

Non Cumulative Fixed Deposit

Investors can get monthly, quarterly and annual interest under this fixed deposit. When the fixed deposit matures, they can withdraw their investment. This fixed deposit can be done for tenures of 2, 3, 4 and 5 years. The interest rates on it for non-senior citizens range between 7.25 per cent to 8 per cent depending on the tenure.

At the same time, senior citizens get interest at the rate of 8.5 percent. By the way, let us tell you that only on FDs maturing in 60 months, they will get an interest rate of 8.5 percent. FDs maturing in 48 months will get 8.25 percent interest.

Cumulative fixed deposit

Cumulative fixed deposit is another product of Tamil Nadu Power Finance and Infrastructure Development Corporation Limited which can be availed by senior citizens. In this, the interest rate will be compounded quarterly, which will be paid to the investors on maturity.

The tenure of this fixed deposit is also 1, 2, 3, 4 and 5 years. The interest rate has been fixed between 7.25 percent to 8.5 percent according to the time period. People of 58 years and above can avail 8.5 per cent interest rate on fixed deposits of 60 months.

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The bank is now offering higher interest rates on FDs with maturities ranging from 7 days to 555 days with interest rates ranging from 2.75% to 5.55%. The bank will continue to offer an interest rate of 2.75% on FDs maturing in 7 to 14 days, while the Central Bank of India will continue to offer interest at the rate of 2.90% on FDs maturing in 15 to 30 days. FDs maturing in 31-45 days will continue to get 3.00% interest rate and FDs maturing in 46-90 days will continue to get 3.35% interest rate.

Central Bank of India will continue to offer 3.85% interest rate on FDs maturing in 91 to 179 days, but on FDs maturing in 180 to 364 days, the bank has increased the interest rate by 10 basis points from 4.40% to 4.50% have make. 10 bps hike Apart from this, on FDs maturing in 1 year in less than 2 years, the bank has increased the interest rate by 10 bps from 5.25% to 5.35%.

The bank has increased the interest rate by 10 bps from 5.30% to 5.40% on FDs maturing in 2 years but less than 3 years. FDs maturing in 3 years to less than 5 years will now be offered an interest rate of 5.40% as against 5.35% earlier and 5.60% for FDs maturing in 5 years and above up to 10 years will continue to offer an interest rate of Rs.

SBI also increased the interest rate

On the other hand, SBI has announced an increase in interest rates for FDs below Rs 2 crore. According to the bank’s official website, the new interest rates are effective from August 13, 2022. SBI has increased interest rates by 15 basis points over several tenors in response to the revision. SBI Fixed Deposit interest rates now range from 2.90% to 5.65% for general public and 3.40% to 6.45% for senior citizens on deposits of 7 days to 10 years.

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