RBI MPC has once again not allowed the scope of earnings from fixed deposits to end by not making any change in interest rates. In such a situation, all government and private banks in the country are dedicated to offering good returns on FDs. One such government bank is making huge profits with its special 400 days FD. Yes, this bank is none other than Bank of Baroda. Bank of Baroda has launched BOB Utsav deposit scheme. Whose duration is 400 days. With this special deposit system, the state bank has given the general public a return of 7.30 percent. Let us also tell you how much performance seniors and super seniors in the country get from this plan.
What profitability will older people obtain?
- Senior citizens are entitled to earn additional 0.50 per cent i.e. 7.80 per cent interest in this plan while senior citizens will earn 7.90 per cent return in this plan.
- There is no change in the interest rates of Bank of Baroda second FD. Bank of Baroda offers the highest interest rate of 7.15 per cent (except BOB Utsav deposit scheme) on deposits of duration between 2 and 3 years.
- The bank’s return on deposits over the period between 1 year and 2 years is 7 percent. The bank offers a return of 6.8 per cent on FD over 3 to 5 years.
- At the same time, investors earn 6.5 per cent on FDs over 5 to 10 years. Apart from this, the bank offers a return of 6.85 per cent to 1-year FD investors.
- Investor returns on FDs of 271 days to less than a year fall to 6.5 per cent. Investors’ returns on 211-day to 270-day FDs further reduce to 6.25 per cent.
- The bank grants 5.75 per cent interest on FDs of 181 to 210 days. While with the FD of 91 to 180 days, investors earn 5.60 percent.
- Investors earn 5.5 per cent interest on FDs for 46 to 90 days. While in FD between 15 and 45 days, this return is 4.5 percent.
- The return that investors get with 7-14 day FDs is 4.25 percent. These new interest rates go into effect on October 14, 2024. Seniors will get 0.50 percent more than these interest rates.
