SBI vs Bob: 2 major government banks of the country, State Bank of India (SBI) and Bank of Baroda (BOB) are offering special FDs. The special FD of both banks is 444 days. Bank of Baroda’s fixed deposit scheme is named 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 on 444 days FD. The banks of both have recently reduced the interest rate on 444 days FD. Learn here where there will be more income to invest money.
Interest rate in BOB Square Drive Deposit Scheme
Now Bank of Baroda launched the BOB Square Drive Deposit Scheme a few months ago. At the time of launch, ordinary citizens were being given 7.15% per annum, 7.65% per annum to senior citizens, 7.75% annual interest to super senior citizens. However, the bank has now reduced the interest rate. Now the general public will get 6.60 percent interest on the Square Drive Deposit Scheme of 444 days, 7.10 percent interest to the senior citizen. Bank of Baroda can invest less than a maximum of Rs 3 crore in this scheme.
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 special FD of 444 days in which more interest was being paid than normal FD. The bank has also reduced interest from 6.85 per cent to 6.60 per cent. Senior citizens will get 0.50 percent extra interest. Senior citizens will get 7.10 percent interest on 444 days Amrit Vrishti FD scheme. Earlier, normal customers were getting 7.05%, senior citizens 7.55% and super senior citizens above 80 years of age were getting 7.65% annual interest. SBI has reduced 0.20 percent interest on FD this time.
BOB’s interest on 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 the general public; 5.50 percent for Senior Citizen
91 days to 180 days – 5.00 percent for the general public; 5.50 percent for Senior Citizen
181 days to 210 days – 5.50 percent for the general public; 6.00 percent for Senior Citizen
211 days to 270 days – 5.75 percent for the general public; 6.25 percent for Senior Citizen
271 days and above and less than 1 year – 6.00 percent for the general public; 6.50 percent for Senior Citizen
1 year – 6.50 percent for the general public; 7.00 percent for Senior Citizen
More than 1 year and less than 400 days – 6.50 percent for the general public; 7.00 percent for Senior Citizen
More than 400 days and up to 2 years – 6.50 percent for the general public; 7.00 percent for Senior Citizen
More than 2 years and up to 3 years – 6.50 percent for the general public; 7.00 percent for Senior Citizen
More than 3 years and up to 5 years – 6.40 percent for the general public; 7.00 percent for Senior Citizen
From more than 5 years to 10 years – 6.00 percent for the general public; 7.00 percent for Senior Citizen
More than 10 years (Court Order Scheme) – 5.50 percent for the general public; 6 percent for senior citizens
444 days – (Square Drive Deposit Scheme) – 6.60 percent for the general public; 7.10 percent for Senior Citizen.
Latest interest rate on SBI’s FD
7 days to 45 days: for general public – 3.05 percent; For Senior Citizen – 3.55 percent
46 days to 179 days: for general public – 5.05 percent; For Senior Citizen – 5.55 percent
180 days to 210 days: for general public – 5.80 percent; For Senior Citizen – 6.30 percent
211 days to less than 1 year: for general public – 6.05 percent; For Senior Citizen – 6.55 percent
Less than 1 year to 2 years: for general public – 6.25 percent; For Senior Citizen – 6.75 percent
Less than 2 years to 3 years: for general public – 6.45 percent; For Senior Citizen – 6.95 percent
Less than 3 years to 5 years: For general public – 6.30 percent; For Senior Citizen – 6.80 percent
From 5 years to 10 years: for general public – 6.05 percent; For Senior Citizen – 7.05 percent. (Senior citizens get 0.50 % interest extra under SBI WeCare scheme.)
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