Before the Diwali festival, many banks are trying to attract investors with exciting offers.
Some banks have extended the deadline for their special fixed deposit (FD) schemes, while others have revised interest rates.
One of the key players, Bank of Baroda (BOB), has introduced a new FD scheme called Bob Utsav, offering high returns.
Additionally, the bank has updated its interest rates, effective from October 14, 2024.
Bob Utsav FD Scheme
Bank of Baroda’s new Bob Utsav FD scheme offers competitive interest rates.
General customers can earn an annual return of 7.30%, while senior citizens are offered 7.80%. For super senior citizens, the interest rate is even higher at 7.90%.
Revised Interest Rates
Along with the new scheme, Bank of Baroda has revised the interest rates for its regular fixed deposits.
For FDs maturing between 7 to 10 years, general customers can earn between 4.25% and 7.30%, including special schemes.
Senior citizens will receive returns between 4.75% and 7.80%. These rates apply to investments below Rs 3 crore.
SBI Extends Special FD Scheme
Last month, State Bank of India (SBI) extended the investment period for its special FD scheme, ‘SBI Amrit Kalash.’
Initially, the scheme was set to end on September 30, 2024, but it has now been extended until March 31, 2025.
The scheme offers 7.10% interest for general customers and 7.60% for senior citizens on FDs maturing in 400 days.
