Banks are rushing to raise interest rates on fixed deposits to woo investors with the repo rate hike. However, on the occasion of India’s 76th Independence Day, several banks including State Bank of India (SBI), Bank of Baroda (BOB), Axis Bank and Karnataka Bank have recently launched special fixed deposit schemes with higher interest rates for a is unveiled. Limited Time. These plans should be discussed quickly with those who are unaware of them before they expire.
SBI Utsav Deposit
country’s largest lender State Bank Of India (SBI)has launched a unique “Utsav Jama” program to commemorate the 75th anniversary of India’s independence. This Fixed deposit Offers an interest rate of 6.10% per annum with an additional rate of 0.50% for older persons, and comes with a tenure of 1000 days.
The deal is valid for 75 days or till October 30, 2022, and the interest rates will be effective from August 15, 2022. “Let your finances do the hard work for you. introduction ‘festival’ deposit With higher interest rates on your fixed deposits!,” SBI said via a tweet.
“A delightful proposition especially for our customers to celebrate 75 years or independence. With ‘Utsav’ deposits, get higher interest rates on fixed deposits,” SBI said through a tweet.
Karnataka Bank
Karnataka Bank has launched a new fixed deposit program named KBL Amrit Samridhi under ACC and Fixed Deposits for a period of 75 weeks (525 days) to honor the 75th anniversary of Independence as Amrit Mahotsav of Independence. The interest rate of this deposit scheme is 6.10% p.a. Karnataka Bank has mentioned on its website that “the new deposit scheme has been introduced with effect from 15.08.2022 at an interest rate of 6.10% p.a. for a fixed tenor of 75 weeks (525 days), valid for a limited period only.”
Launching this special Fixed Deposit Scheme, Mr. Mahabaleshwar MS, MD & CEO, Bank said, “India is celebrating the glorious history, culture and achievements of its people with gusto. Depicting rich patriotic tradition and values, Karnataka Bank has always been ready to fulfill the aspirations and dreams of its valued patrons. With the new product KBL Amrit Samridhi, the Bank offers our customers the benefit of increased interest rates. I request all of you to make use of this opportunity, which will be available for a limited time.”
Bank Of Baroda
By whom was the Baroda Tiranga Deposit Scheme launched? Bank Of Baroda To celebrate the 75th anniversary of the country’s independence. The applicable interest rates under Baroda Tricolor Deposit are 5.75 per cent for 444 days and 6.00 per cent for 555 days. Senior citizens will get an additional rate of 0.50% and 0.15% on non-callable deposits. The scheme was launched on 16 August 2022 and will be active till 31 December 2022.
“Keep up the spirit of Independence Day with the Baroda Tricolor deposit. Open the world of Bob World and start FD with some great interest rates!” said Bob via a tweet.
axis Bank
On the occasion of 75th Independence Day of the country, axis Bank Introduced a fixed deposit with a tenure of 75-weeks. This special fixed deposit scheme for general public offers an interest rate of 6.05%, while elderly people get a special rate of 6.80%. This scheme will be available only from August 11 to August 25, 2022.
“A special rate for a special occasion! On our 75th Independence Day, invite senior citizens to open FD with us at 6.80% for 75 weeks,” Axis Bank said via a tweet.
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