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
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. However, there is a lot of difference in the interest received on FD of 444 days. Both the banks have recently reduced the interest rate on FD 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, general citizens were being given 7.15% per annum, senior citizens 7.65% per annum, super senior citizens 7.75% per annum interest. However, the bank has now reduced the interest rate. Now the general public will get 6.60 percent interest, senior citizens 7.10 percent interest on Bank of Baroda 444 days Square Drive Deposit Scheme. In this scheme of Bank of Baroda, you can invest a maximum of 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 444 days special FD 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 444 days Amrit Varshiti FD scheme. 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 FD
- 7 days to 14 days – 3.50 percent for general public; 4.00 percent for senior citizens
- 15 days to 45 days – 3.50 percent for general public; 4 percent for senior citizens
- 46 days to 90 days – 5.00 percent 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% for Senior Citizens
- More than 400 days and upto 2 years – 6.50% for general public; 7.00% for senior citizens
- More than 2 years and upto 3 years – 6.50% for general public; 7.00% for senior citizens
- More than 3 years and upto 5 years – 6.40% for general public; 7.00% for senior citizens
- More than 5 years to 10 years – 6.00% for general public; 7.00% for senior citizens
- More than 10 years (Court Order Scheme) – 5.50% for general public; 6% for senior citizens
- 444 days – (Square Drive Deposit Scheme) – 6.60% for general public; 7.10% 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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