Public sector Bank of India has introduced a super special fixed deposit scheme in the new year. Both existing customers and new customers can take advantage of this scheme. The special thing is that the bank is offering up to 7.50 percent annual interest rate on this scheme.
This scheme is only for deposits between Rs 2 crore and Rs 50 crore. The maturity of this scheme is 175 days. According to the news of Livemint, the scheme has started from January 1, 2024.
The most attractive option for short-term investment
According to the news, the Super Special Fixed Deposit Scheme is a great opportunity for high net worth individuals (HNIs) and corporates to invest their money in a short period of time. With high returns of 7.50% per annum for maturity of 175 days, this fixed deposit is one of the most attractive options for short-term investments. This is better than other fixed deposit options of similar tenure.
Available only for a certain period of time
This special FD scheme is limited and available only for a fixed period. Senior citizens aged 60 years and above but below 80 years can avail an additional interest rate of 0.50% on their retail fixed deposits (less than Rs 2 crore) for tenures of 6 months and above, up to 3 years. Will happen. Very senior citizens aged 80 years and above will be eligible for an additional interest rate of 0.65% on similar retail fixed deposits for the same tenure limit.
A few days ago, SBI had increased the interest rates on FD. This interest rate is applicable on FDs of less than Rs 2 crore. Apart from this, last December, Federal Bank, Kotak Mahindra Bank and DCB Bank had also increased the interest rates on their FD (fixed deposits).
