FD Interest Rate: Numerous banks in the nation are providing attractive interest rates for fixed deposits. Fixed deposits are the optimal choice for individuals seeking to invest with no risk. Fixed deposits provide higher interest rates when compared to savings accounts. Because of decreased risk, there is also reduced worry about potential losses. Before you invest, make sure to check which banks in the country have revised their interest rates for this month.
Yes Bank has revised interest rate
Yes Bank has recently revised the interest rates for deposits below 3 crore, starting from November 5th. The interest rate for deposits over 18 months has been lowered from 8% to 7.75%. Fixed deposit interest rates vary from 3.25% to 7.75% starting November 5th. At the same time, elderly individuals will earn interest rates between 3.75% and 8.25%. During a span of 18 months, the bank will provide a 7.75% interest rate, with senior citizens getting 8.25%.
Punjab and Sindh Bank also has revised
Punjab and Sindh Bank has revised its fixed deposit interest rates, which will come into effect from November 14 and will be applicable until December 31, 2024. The deposit amount must be at least 100,000 rupees. You can earn as much as 8.25% in interest on this.
SBI Amrit Kalash FD scheme
The SBI Amrit Kalash FD scheme is a unique fixed deposit scheme lasting 400 days, providing customers with an interest rate of up to 7.10%. This plan is especially advantageous for elderly individuals since they get a better interest rate than typical clients. Elderly customers receive an extra 50 basis points, equating to an interest rate of up to 7.60%. Customers are allowed to deposit a maximum amount of 2 crore rupees under this plan.
How to apply?
It is also very easy to invest in this scheme. Visit your closest SBI branch with required documents like Aadhaar card, PAN card, passport-sized photo, mobile number, and email ID. You can pick up a form for the Amrit Kalash scheme at the branch, complete and hand it in to open your account right away.