New Delhi: State Bank of India (SBI) has recently launched a new Fixed Deposit (FD) scheme named Amrit Vrishti. This scheme aims to provide competitive interest rate. However, before considering SBI’s Amrit Vrishti Scheme, it’s important to compare it with other bank FD options. PNB, Indian Bank, Bank of Baroda, and Canara Bank all offer competitive interest rates in shorter durations, which may be advantageous depending on your investment goals and timeline. Additionally, special benefits for senior and super senior citizens should be taken into account when making your decision.
Each bank’s FD scheme varies in terms of interest rates, deposit limits, and tenure, so it’s advisable to review these details carefully before investing to ensure you make the most informed choice for your financial planning needs.
State Bank of India (SBI) – Amrit Vrishti Scheme
SBI’s Amrit Vrishti Scheme offers an attractive interest rate of 7.25 per cent per annum for 444 days to general citizens. Senior citizens enjoy an additional 0.50 per cent, totaling 7.75 per cent. Investments are accepted until March 31, 2025.
Punjab National Bank (PNB) – 400 Days FD
PNB offers a 400-day term deposit with an interest rate of 7.25 per cent for regular customers. Senior citizens get 7.75 per cent, and super senior citizens (80 years and above) receive 8.05 per cent. The maximum deposit allowed is Rs 3 crore.
Indian Bank – IND SUPER 400 DAYS FD
Indian Bank’s IND SUPER 400 DAYS FD offers flexibility with a callable option for premature withdrawal. Interest rates are 7.25 per cent for general customers, 7.75 per cent for senior citizens, and 8 per cent for super senior citizens. Investments are open until September 30, 2024.
Bank of Baroda (BOB) – Monsoon Dhamaka Deposit Scheme
BOB’s Monsoon Dhamaka Deposit Scheme runs for 399 days, offering 7.25 per cent interest for general customers and 7.75 per cent for senior citizens.
Canara Bank – 444 Days FD
Similar to SBI’s Amrit Vrishti Scheme, Canara Bank offers a 444-day term deposit. It offers an interest rate of 7.25 per cent for regular customers and 7.75 per cent for senior citizens, with deposits up to Rs 3 crore.
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Each bank’s FD scheme varies in terms of interest rates, deposit limits, and tenure, so it’s advisable to review these details carefully before investing to ensure you make the most informed choice for your financial planning needs. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
