If you’re considering investing in a fixed deposit scheme, there’s good news for you.
Bank of India, a public sector bank, has introduced a new FD scheme called the Star Dhan Vriddhi Scheme. This scheme offers the advantage of high interest rates.
Both general customers and senior citizens can benefit from interest rates higher than the usual ones.
Customers can deposit up to Rs 3 crore under this scheme.
Know what is Star Dhan Vriddhi Scheme
With the Bank of India’s Star Dhan Vriddhi Scheme, customers can enjoy high interest rates over a short period.
This scheme allows deposits for 333 days. General customers receive a 7.25 percent interest rate on this 333-day scheme.
Senior citizens benefit from an additional 0.50 percent, resulting in a higher interest rate for them.
As a result, senior citizens will receive a 7.75 percent interest rate on deposits, while super senior citizens will get a 7.90 percent interest rate.
Additionally, the bank has updated its FD interest rates, which are now effective from September 1, 2024.
Bank of India is offering this interest rate
The bank is offering a 3% interest rate on FD schemes of 7 to 45 days for general customers, and a 4.5% interest rate on FD schemes of 46 to 179 days.
The bank is offering a 6% interest rate on FD schemes of 180 days to 1 year (excluding 333 days), 7.25% on 333-day FDs, 6.80% on FD schemes of 1 to 2 years,
6.75% on schemes of 2 to 3 years, 6.5% on schemes of 3 to 5 years, and 6% on FD schemes of more than 5 years.
Additionally, the bank is offering a 0.50% extra interest rate to senior citizen customers.
You can also invest in these special FD schemes
State Bank of India has launched the Amrit Kalash Scheme, which offers a 400-day FD investment option.
Under this scheme, general citizens receive a 7.10% interest rate, while senior citizens get 7.60%. The scheme ends on September 30.
Indian Bank’s special FD scheme, Ind Super 300 Days, offers a 7.05% interest rate for general customers, 7.55% for senior citizens, and 7.80% for super senior citizens.
Punjab and Sindh Bank has introduced special FD schemes of 222 days, 333 days, and 444 days.
The interest rates are 6.30% for the 222-day scheme, 7.15% for the 333-day scheme, and 7.25% for the 444-day scheme.
