Bank of India FD Rates: Bank of India keeps issuing various types of savings schemes for the common people, while in these schemes it offers better benefits to the common people. On the other hand, at present, Bank of India has increased the interest rates on its Fixed Deposit Scheme, in such a situation, you can get better returns by investing in the FD scheme of this bank. Today we are going to tell you about the increased interest rates in the Fixed Deposit Scheme of Bank of India, let us know about it-
Interest rates have increased in this FD scheme
Explain that the increase in the interest rates of FD scheme by Bank of India will be effective from April 1, 2023. Secondly Bank of India has increased the interest rates on 501 days Shubh Aarambh Deposit Scheme where you can invest less than Rs 2 crore in this scheme.
Shubh Aarambh Deposit Scheme New Interest Rates
Explain that Bank of India is giving 7.65% interest to senior citizens, 7.8% interest to very senior citizens and 7.15% interest to common citizens through Shubh Aarambh Deposit Scheme. Apart from this, the bank is offering an additional interest of 0.15% to very senior citizens in the bucket of 6 months to 10 years. In such a situation, you can get better returns by investing here.
This is how you will get better returns
If you invest 7 days to 45 days in Shubh Aarambh Deposit Scheme, you will get a better interest of 3%. Along with this, if you invest for 46 to 179 days, then you will get 4.50% interest, as well as investing more than 1 year, you will get 6% interest in this scheme. Apart from this, Bank of India is providing 6.75% interest on deposits of less than 3 years, as well as if the period is 3 to 5 years, then you will get a better interest of 6.50% on the deposit amount.
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