New Delhi: The State Bank of India and Bank of Baroda are among the leading public sector banks in India in which customers repose their trust. In line with the RBI’s directive to lenders to raise funds through retail deposits instead of risky alternative products, these lenders have been making their term deposit offerings sweeter by hiking FD rates. SBI has introduced some special FDs while Bank of Baroda is also offering special interest rates on certain long tenure FDs.
SBI vs BoB FD returns on 400-day tenure
If we compare SBI and the Bank of Baroda’s special FD rates, then the State Bank of India offers a 7.25 per cent interest rate on 444-day tenure FDs called SBI Amrit Vrishti. BoB offers 7.25 per cent interest rate on 399-day FDs. Here’s how much will earn on a Rs 5 lakh investment in these FDs.
If you invest Rs 5 lakh in SBI Amrit Vrishti FD at 7.25 per cent interest rate for 444 days, your maturity value will be Rs 5,44,435.51, indicating an interest worth Rs 44,435.51.
A Rs 5 lakh investment in BoB’s 399-day Special FD at 7.25 per cent interest rate will eanr Rs 40,390 interest taking the maturity value to Rs 5,40,930.
SBI FD rates
Tenors
General Public
Senior Citizen
7 days to 45 days
3.5
4
46 days to 179 days
5.5
6
180 days to 210 days
6.25
6.75
211 days to less than 1 year
6.5
7
1 Year to less than 2 years
6.8
7.3
2 years to less than 3 years
7
7.5
3 years to less than 5 years
6.75
7.25
5 years and up to 10 years
6.5
7.50*
Bank of Baroda FD rates
Tenors
Residents / General Public
Resident Indian Sr. Citizen
7 days to 14 days
4.25
4.75*
15 days to 45 days
6
6.50*
46 days to 90 days
5.5
6.00*
91 days to 180 days
5.6
6.10*
181 days to 210 days
5.75
6.25*
211 days to 270 days
6.15
6.65*
271 days & above and less than 1 year (except 333Days and 360 Days)
6.25
6.75*
333 Days (bob Monsoon Dhamaka Deposit Scheme)
7.15
7.65*
360 Days (bob360)
7.1
7.60*
1 year
6.85
7.35*
399 Days (bob Monsoon Dhamaka Deposit Scheme)
7.25
7.75*
Above 1 year to 400 days (Except 399 Days)
6.85
7.35*
Above 400 days and upto 2 Years
6.85
7.35*
Above 2 Years and upto 3 Years
7.15
7.65*
Above 3 Years and upto 5 Years
6.5
7.15 #
Above 5 Years and upto 10 Years
6.5
7.50**
Above 10 years (MACT/MACAD
Court Order schemes only)
6.25
6.75*
SBI vs BoB FD rates: Know how much you will earn on a Rs 5 lakh lakh investment for longer tenures FDs. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
