festive season Bank of Baroda (BOB) has come up with a special FD scheme for its investors. This scheme has been named ‘Utsav Deposit Scheme’. According to the bank, this special FD scheme will be for 400 days. In this, common people will get interest at the rate of 7.30%. At the same time, senior citizens will be given additional interest on this scheme at the rate of 50 basis points i.e. 7.80%. Super senior citizens have the opportunity to get interest at the rate of 7.90%.
How much interest is being received on other schemes
Interest rates on other tenures will remain the same. Bank of Baroda offers the highest interest rate (except BoB Utsav Deposit Scheme) of 7.15 per cent on deposits with a tenure of 2 to 3 years. The bank offers 7 percent interest on deposits with tenure between 1 year and 2 years. When the tenure is between 3-5 years, the bank offers 6.8 percent interest on fixed deposits. If the tenure is between 5-10 years, the bank gives 6.5 percent interest. Apart from this, depositors get 6.85 percent interest on 1 year FD.
Know these things before getting FD
If you are thinking of getting an FD, then compare the interest rates offered by banks. Then choose the tenure as per your financial goal. Make FD only in the bank which gives higher interest. By doing this you will be able to get higher returns on FD. If possible, do not put the entire money in a single FD. Put the money in two or three FDs of different tenures.
