Fixed Deposit Rates comparison for plans with tenors of 399 days, 333 days: Which banks offer higher interest rates on their fixed deposit schemes of 399 days, 333 days tenors? In this article, we will compare two special fixed deposit schemes of 399 days and 333 days tenors of Bank of Baroda with those of other banks. These FD plans are part of Bank of Baroda’s Monsoon Dhamaka Deposit Scheme.
Bank of Baroda Monsson Dhamaka Deposit Scheme
Bank of Baroda last month launched the Monsoon Dhamaka Deposit Scheme, a special term deposit product offering higher interest rates. The scheme is available in two tenor buckets – offering interest rates of 7.25% p.a. for 399 days and 7.15% p.a. for 333 days. The scheme is applicable on retail deposits below Rs 3 crore. For senior citizens, the interest rate is 7.65% for 333 days FD scheme and 7.75% for 444 days tenure.
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What are other banks’ offerings on special FD schemes with these tenors?
Let us compare the fixed deposit rates offered by major PSU banks like SBI, PNB, Union Bank of India, Punjab and Sindh Bank and Canara Bank. FD data has been sourced from Paisabazaar.
State Bank of India is offering 6.50% interest rate to general FD customers on schemes maturing in 211 days to less than 1 year, while senior citizens get 7% on the same tenure deposit. SBI’s special FD scheme of 444 days tenure Amrit Vrishti offers 7.25% rate to general customers and 7.75% to senior citizens.
Punjab National Bank (PNB) FD rates
Punjab National Bank offers general citizens an interest rate of 6.25% to general citizens for FDs of 301 days to less than 1 year tenure. Senior citizens get an additional 50 bps on the same tenure FD. Fixed deposits of 400-day tenure fetch a rate of 7.25% for general FD subscribers and 7.75% for senior citizens.
Union Bank of India FD rates
Union Bank of India is offering an interest rate of 7.40% to general customers on its 333 days FD and 7.90% interest rate to seniors. Its FD schemes of 400 days to 2 years tenures offer 6.60% rate to non-senior citizens and 7.10% to senior citizens.
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Punjab & Sindh Bank is offering the interest rate of 7.15% interest to general citizens on its 333 days tenure FD and 50 bps addition to senior citizens. On its 444 days FD plan, the bank is offering 7.25% and 7.75% to general citizens and senior citizens, respectively. This special FD scheme of the bank is available for subscription till September 30, 2024.
Canara Bank FD rates
Canara Bank is offering 6.25% rate to general subscribers and 6.75% to senior citizens on its 270 days to less than 1 year tenure FD scheme. On its 444 days fixed deposits, Canara Bank is offering customers same interest rates what SBI is offering – 7.25% for general citizens and 7.75% for senior citizens.
