Fixed deposits i.e. FD schemes have always been a popular medium of investment in the country. FD schemes guarantee security with fixed returns. At present, different banks are offering attractive interest rates on their FD schemes. In this matter, the interest rates available in government and private banks are always compared.
In this comparison, private banks come out ahead. However, government banks also offer very good interest to their customers. Along with this, they keep changing the interest rates from time to time. In this context, Bank of India has now made changes in its FD dates.
New rates updated
Bank of India has updated its fixed deposit interest rates for deposits less than Rs 2 crore. After this update, the bank is now offering interests ranging from 3 percent to 7.25 percent for deposit periods ranging from 7 days to 10 years. These updated interest rates are applicable from the beginning of this month i.e. 1st April.
The bank is offering extra 50 basic points to senior citizens on tenure of 6 months and above. Whereas super senior citizens get 65 basic points extra. Apart from this, for deposits less than Rs 2 crore and tenure of 3 years or more, the bank gives 25 basic points extra premium to senior citizens and super senior citizens.
Latest interest rates on fixed deposits of different banks-
Bank of India
Bank of India 3 percent on deposits maturing between 7 days to 45 days, 4.50 percent on deposits maturing between 46 days to 179 days, 5.50 percent on deposits maturing between 180 days to 269 days and 270 days Offers an interest rate of 5.75 percent on deposits maturing in less than 1 year.
Apart from this, the bank is offering 6.80 percent on deposits maturing between 1 year to 2 years, 7.25 percent on deposits maturing between 3 years to 5 years and 6.50 percent on deposits maturing between 5 years to 5 years. Offers an interest rate of 6 percent on deposits maturing within 10 years.
State Bank of India
State Bank of India offers interest rates ranging from 3.5 percent to 7 percent to general customers on fixed deposits maturing between 7 days to 10 years. Whereas for the same period, the bank is giving interest rates ranging from 4 percent to 7.5 percent to senior citizens. These updated rates are applicable from December 27 last year.
HDFC bank
HDFC Bank is offering interest ranging from 3 percent to 7.25 percent to its general customers on fixed deposits maturing between 7 days to 10 years. Whereas for senior citizens these interest rates range from 3.5 percent to 7.75 percent. These updated rates are applicable from February 9 this year.
ICICI Bank
ICICI Bank is also offering interest ranging from 3 percent to 7.25 percent to its general customers on fixed deposits maturing between 7 days to 10 years. Whereas for the same period, the bank is giving interest rates ranging from 3.5 percent to 7.75 percent to senior citizens. These updated rates are applicable from February 17 this year.
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