Yes Bank has launched a special fixed deposit scheme for investors. Under this, where retail investors will get 7.25 percent interest, while senior citizens will get 7.75 percent interest. The bank said that this special FD scheme has come into effect from 12 October 2022 and interested investors can take advantage of it.
Yes Bank’s special FD scheme is for investment of less than 2 crores. The tenure of this scheme ranges from 20 months to 22 months. Retail investors will get an annual interest rate of 7.25 percent on investment in this scheme.
On the other hand, senior citizens will get an interest of 7.75 percent on investing under this scheme, which is going to beat the current rate of inflation. Let us tell you that at present, there are very few FD schemes, which are offering inflation-beating returns to their investors.
Meanwhile, the shares of Yes Bank closed at Rs 16.00, down 0.93 per cent on the NSE today i.e. on Wednesday, October 12. The company’s shares have gained about 13.88 percent since the beginning of the year 2022. At the same time, its price has increased by about 20.75 percent in the last one year.
HDFC Bank also increased the interest rate on FD
Private sector lender HDFC Bank has increased interest rates on fixed deposits (FDs) of less than Rs 2 crore. According to the information available on the official website of the bank, the new rates have come into effect from October 11.
The bank has increased the interest rates on fixed deposits (FDs) by up to 0.75 percent. This is the second time in the last two months that the bank has increased the rates of FDs. Now investors making fixed deposits in HDFC Bank for tenures ranging from 7 days to 10 years will get interest between 3 to 6 percent. At the same time, this interest rate for senior citizens will be 3.50% to 6.75%.
