Public sector lender Bank of India (BoI) on Tuesday introduced a new bulk deposit scheme. In this, 7.50 percent interest will be given on deposits of Rs 2 crore and above for 175 days.
Bank of India FD: Public sector lender Bank of India (BoI) on Tuesday introduced a new bulk deposit scheme. In this, 7.50 percent interest will be given on deposits of Rs 2 crore and above for 175 days. Till now BOI was giving six percent interest on depositing the same amount for 174 days. The new rate has come into effect from January 1.
what did the bank say
The bank said in the statement that the new interest rates range from Rs 2 crore to deposits of less than Rs 50 crore. The special fixed deposit is only for deposits in Rs. This offer is for a limited period. The new rate has come into effect from January 1. Meanwhile, private sector DCB Bank has announced ‘Happy Savings Account’.
For senior citizens
Senior citizens will get an additional 0.50 per cent interest rate on the scheme for retail fixed deposits of less than Rs 2 crore. The minimum period for this is 6 months or more, maximum 3 years. Senior citizens aged 80 years and above will get an additional 0.65 per cent for the same retail fixed deposit in the same period. Recently, State Bank of India (SBI) has increased deposit rates by up to 50 basis points (bps), effective from December 27, 2023. The increase of 50 bps is for deposits with maturity period of 7 to 45 days.
Recently, Bank of Baroda has given a big gift to crores of its customers. Bank of Baroda has launched a zero balance savings account ‘Bob BRO Saving account’ for its customers aged between 16 years to 25 years. There is no need to maintain minimum balance in this account. This is said to be a big step by Bank of Baroda to connect with its young customers. Customers who open an account in this savings account will also get many facilities.
