Interest rates on bank fixed deposits, which have been slow to rise compared to lending rates, are now going up through special schemes.
While banks are now bettering the returns offered under small savings schemes like Kisan Vikas Patra and PPF, which range from 6.9% to 7.1%, small saving schemes still have an edge for taxpayers. Bank of India, for instance, has announced a limited-time offer where depositors can earn an interest rate of 7.25% (7.75% for senior citizens) on a deposit for 777 days.
Banks give higher FD returns through special offers
Mumbai: Interest bank fixed deposits have been slow to rise compared to lending rates, are now going up through special schemes.
While banks are now bettering the returns offered under small savings schemes like Kisan Vikas Patra and public provident fund (PPF), which range from 6.9% to 7.1%. However, small saving schemes still have an edge for taxpayers.
This story is from the November 03, 2022 edition of The Times of India Mumbai.
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This story is from the November 03, 2022 edition of The Times of India Mumbai.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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