Fixed Deposits: Giving money to outside interests and having trouble collecting them. Sometimes those who took money put IP. etc. the hard earned money is not coming to the needy.. Due to this, some people are troubled because they don't know where to put their hard earned money. If you put it in a fixed deposit, even if the interest is low, the money will not go anywhere. So this is good. This is a better opportunity especially for senior citizens. Some of the interest is also high for them so some of it comes together. Several public sector banks (PSB) in India have revised their fixed deposit interest rates in the last two months. PSU banks are banking institutions where the government holds more than 50 % of the capital. Union Bank, Bank of India, Punjab National Bank and other banks revised their fixed deposit interest rates in August. Among scheduled public sector banks, Union Bank of India offers the highest fixed deposit interest rates, offering up to 7.40% pa for a period of 333 days. Senior citizens (60 years and above) can earn an additional 0.50% pa. But super senior citizens can earn higher rates of 0.75%.
Check this table..
Bank of India has introduced a special deposit scheme with quoted interest rates where general citizens can get 7.30% interest while senior citizens can get 7.80% interest. Super Senior Citizens Rs. 7.95% up to Rs. 666 for 2 crores with due date.
Bank of Baroda has launched 'Bank of Baroda Monsoon Dhamaka Deposit Scheme' which offers interest rates of 7.25% per annum for 399 days and 7.15% for 333 days. Rs. The scheme, applicable to retail deposits below Rs 3 crore, started on July 15, 2024. It is very attractive and trending well.
State Bank of India (SBI) has introduced a new term limited – term deposit scheme called 'Amrit Vrishti'. This FD scheme offers high interest rates. Available to both domestic and non-resident Indian customers. This scheme is available from July 15, 2024. It can also be booked through branches, internet banking, Yono channels
