SBI vs BOB: The country’s 2 big government banks, State Bank of India (SBI) and Bank of Baroda (BOB) are both offering special FDs. The special FD of both the banks is for 444 days. The name of the fixed deposit scheme of Bank of Baroda is bob Square Drive Deposit Scheme. At the same time, the name of SBI Bank’s FD is Amrit Vrishti
Senior citizens highest FD Rate: The country’s 2 big government banks, State Bank of India (SBI) and Bank of Baroda (BOB) are both offering special FDs. The special FDs of both the banks are for 444 days. The name of the fixed deposit scheme of Bank of Baroda is bob Square Drive Deposit Scheme. At the same time, the name of SBI Bank’s FD is Amrit Vrishti. However, there is a lot of difference in the interest received on FDs of 444 days. Both the banks have recently reduced the interest rate on FDs of 444 days. Know here where investing money will give more income.
Interest rate in BOB Square Drive Deposit Scheme
Now Bank of Baroda launched BOB Square Drive Deposit Scheme a few months ago. At the time of launch, 7.15% annual interest was being given to general citizens, 7.65% annual interest to senior citizens, 7.75% annual interest to super senior citizens. However, the bank has now reduced the interest rate. Now, the general public will get 6.60 percent interest and senior citizens will get 7.10 percent interest on the Bank of Baroda 444 days Square Drive Deposit Scheme. The maximum amount that can be invested in this scheme of Bank of Baroda is less than Rs 3 crore.
SBI also reduced interest on special FD
SBI Bank has also reduced interest on its special FD Amrit Vrishti. Amrit Vrishti FD scheme is a special FD of 444 days in which more interest was being given than normal FD. The bank has also reduced the interest on this from 6.85 percent to 6.60 percent. Senior citizens will get 0.50 percent extra interest. Senior citizens will get 7.10 percent interest on Amrit Vrishti FD scheme of 444 days. Earlier, general customers were getting 7.05%, senior citizens 7.55% and super senior citizens above 80 years of age were getting 7.65% annual interest. This time SBI has reduced the interest on FD by 0.20 percent.
Interest on BOB’s FD
7 days to 14 days – 3.50 percent for general public; 4.00 per cent for senior citizens
15 days to 45 days – 3.50 per cent for general public; 4 per cent for senior citizens
46 days to 90 days – 5.00 per cent for general public; 5.50 per cent for senior citizens
91 days to 180 days – 5.00 per cent for general public; 5.50 per cent for senior citizens
181 days to 210 days – 5.50 per cent for general public; 6.00 per cent for senior citizens
211 days to 270 days – 5.75 per cent for general public; 6.25 per cent for senior citizens
271 days and above and less than 1 year – 6.00 per cent for general public; 6.50 per cent for senior citizens
1 year – 6.50 per cent for general public; 7.00 per cent for Senior Citizens
More than 1 year and less than 400 days – 6.50 per cent for general public; 7.00 per cent for Senior Citizens
More than 400 days and upto 2 years – 6.50 per cent for general public; 7.00 per cent for Senior Citizens
More than 2 years and upto 3 years – 6.50 per cent for general public; 7.00 per cent for Senior Citizens
More than 3 years and upto 5 years – 6.40 per cent for general public; 7.00 per cent for Senior Citizens
More than 5 years to 10 years – 6.00 per cent for general public; 7.00 per cent for Senior Citizens
More than 10 years (Court Order Scheme) – 5.50 per cent for general public; 6 percent for senior citizens
444 days – (Square Drive Deposit Scheme) – 6.60 percent for general public; 7.10 percent for senior citizens.
SBI’s latest interest rate on FD
7 days to 45 days: General public – 3.05 percent; Senior citizens – 3.55 percent
46 days to 179 days: General public – 5.05 percent; Senior citizens – 5.55 percent
180 days to 210 days: General public – 5.80 percent; Senior citizens – 6.30 percent
211 days to less than 1 year: General public – 6.05 percent; Senior citizens – 6.55 percent
1 year to less than 2 years: General public – 6.25 percent; Senior citizens – 6.75 percent
2 years to less than 3 years: General public – 6.45 percent; Senior citizens – 6.95 percent
3 years to less than 5 years: General public – 6.30 percent; For senior citizens – 6.80 percent
5 years to 10 years: For general public – 6.05 percent; For senior citizens – 7.05 percent. (Under SBI weCare scheme, senior citizens get 0.50 percent interest extra.)
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