Union Finance Minister Nirmala Sitharaman launched Mahila Samman Saving Certificate during the budget presented for this business year (2023-2024). Canara Bank said in an official tweet that as your trusted banking partner, we are committed to supporting the financial growth and empowerment of women.

It is known that Mahila Samman Saving Certificate, 2023 (MSSC) provides a safe investment option to a woman for herself or by a guardian on behalf of a minor girl child. Let us know in detail about the Mahila Samman Saving Certificate Scheme.

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Aviva India Life Insurance has launched one such new pension plan, which will give you the retirement solution of a guaranteed lumpsum along with a fixed income. Life Insurance Company has launched Aviva New Innings Pension Plan on March 16, 2023.

What is Aviva New Innings Pension Plan offering? (Aviva New Innings Pension Plan Details)

Aviva’s New Innings Pension Plan is a non-linked, non-participating individual pension plan. This plan is designed to accumulate wealth by paying a lump sum or by paying regular premiums, which can create a secure and stable source of income in the form of annuity after retirement.

Aviva New Innings Pension Plan will give the subscribers a corpus of up to 336 percent of the premium paid at maturity. Apart from this, it will also give better returns to policyholders of 51 years or more. The plan will enable customers to customize their retirement plan as per their needs and financial goals, while bringing flexibility in the age of entry and premium payment options.

Mr. Vineet Kapahi, Marketing Head, said, “At Aviva India, we understand the power of compounding and the importance of timely retirement planning for a financially sound future. Aviva New Innings Pension Plan aims to encourage early planning of pension wealth and help the subscribers to ensure financial security during their golden years. With multiple premium paying options and high return potential, our policyholders can be confident that their investments will help them meet their financial objectives for retirement.”

Aviva New Innings Pension Plan Features

• You can easily buy this pension plan without any medical checkup.
• On maturity, you get up to 336% of the premiums paid till then.
• There is an option to align the retirement corpus as per the different stages of your life.
• And you also get tax benefits according to the tax exemption available under the current Income Tax Act.

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The name of this scheme launched after the increase in repo rate by RBI is ‘IND SUPER 400 DAYS’. The maturity period in this special FD scheme will be 400 days.

According to the website of Indian Bank, the special retail term deposit product ‘IND Super 400 Days’ has been launched from 6 March. The maturity period in this special FD scheme will be 400 days. An amount ranging from Rs 10,000 to less than Rs 2 crore can be invested in this. The scheme is available to women investors and is open to others as well. Under this scheme, the bank offers 0.05 per cent higher interest rate to women investors. This scheme is valid till April 30, 2023.

Recently Indian Bank has increased FD rates

Recently Indian Bank has increased the interest rates on FDs of less than Rs 2 crore. After this increase, the bank is giving up to 6.70 percent interest to its customers. Increased new interest rates of the bank on 4 March. Applicable from 2023.

Many banks have increased FD rates.

It is noteworthy that on February 8, RBI had increased the repo rate by 0.25 percent. After the increase in the repo rate, many government and private banks of the country have increased their FD rates. Many banks like SBI, ICICI Bank, HDFC Bank, Yes Bank have increased interest on FDs in recent times.

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The bank’s new interest rates on Fixed Deposit (FD) are applicable from 15 February 2023.Unity Small Finance Bank will now give 9.50% interest on 1001 days fixed deposits to senior citizens. At the same time, common customers will get 9% interest on FD of 1001 days.

9.25% interest on fixed deposits of this time period

Unity Small Finance Bank (Unity Bank) is giving 9.25% interest to senior citizens and 8.75% to general customers on 181-201 days and 501 days fixed deposits. Small Finance Bank is paying 7.50% interest to senior citizens and 7% to general customers on fixed deposits ranging from 5 years to 10 years.

Fixed Deposit Rates of Unity Small Finance Bank

The bank is now offering 4.50% interest on 7-14 day fixed deposits. At the same time, Unity Small Finance Bank is paying 4.75% interest on FDs of 15 days to 45 days. Unity Bank is offering 5.25% interest on fixed deposits with maturity of 46 days to 60 days. At the same time, interest of 5.50% is being paid on fixed deposits of 61 days to 90 days.

Bank’s interest rates for different periods

Unity Small Finance Bank is offering an interest rate of 5.75% on fixed deposits of 91 days to 180 days. While on fixed deposits of 181 days to 201 days, the bank will pay interest of 8.75 percent. The bank is paying 6.75% interest on FDs with maturity of 202 days to 364 days. Unity Small Finance Bank will pay 7.35% interest on FDs of 365 days to 500 days. The bank will pay an interest of 7.65% on fixed deposits with maturity ranging from 1002 days to 5 years.

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This scheme has come into effect from 1st November. This includes interest rate of 0.5 per cent on deposits for senior citizens and 0.25 per cent for non-callable deposits. This scheme is for retail term deposits of less than Rs 2 crore. Bank of Baroda has increased the premium on non-callable retail term deposits from 0.15% p.a. to 0.25% p.a.

Hence, non-callable deposits will now get 0.25% additional interest per annum. Ajay K Khurana, Executive Director, Bank of Baroda said, “In an environment of rising interest rates, we are happy to offer our customers a higher rate of interest so that they can earn higher returns on their savings. Baroda Tiranga Plus Deposit Scheme offers high interest rates and assured returns.

On non-callable deposits, the Bank has also decided to increase the non-callable premium on retail term deposits from 0.15% to 0.25%, providing further benefits to the customers.

IDBI Bank: Amrit Mahotsav Deposit Scheme

Private sector lender IDBI Bank has introduced Amrit Mahotsav FD (Amrit Mahotsav Deposits) scheme for its customers. The bank is offering increased interest rates on deposits under this scheme. Under this scheme, customers will be able to make deposits for 700 days and they will get interest at the rate of 7.50 per cent. This offer is for a limited time.

Unity Small Finance Bank introduced Shagun 366 Meanwhile, Unity Small Finance Bank is now offering 8.30% interest on deposits of 366 days to senior citizens. The bank recently launched a new scheme – Shagun 366, i.e. 1 year, 1 day fixed deposit. The scheme offers a return of 7.80% p.a. while senior citizens will get 8.30% interest over a period of 366 days. However, this offer will be available only for deposits booked up to November 30, 2022.

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SBI started the scheme during the Corona period

It is worth mentioning that the State Bank started this scheme in the difficult times of Corona. SBI started this scheme in September 2020. In the year 2021 also, SBI had extended the term of this scheme. And now once again the State Bank is extending the duration of this scheme. Let us tell you, under the SBI We Care scheme, 30 basis points interest is given to senior citizens on fixed deposits.

Senior citizens get more interest

Under this special scheme of SBI, senior citizens get more interest on bank FD deposits. Under the SBI We Care scheme, an additional interest of 30 basis points is given on the fixed deposits of senior citizens. Under this scheme, senior citizens have to deposit FD for 5 years.

How much interest does it get

Let us tell you, SBI gives 5.65 percent interest to its customers on FD for a period of 5 years on normal fixed deposits. But under this special scheme to senior citizens, it gives an interest of 6.45 percent on FD of 5 years.

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