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Senior Citizen Schemes: Giving nice reduction to the traders of small financial savings schemes, the federal government has elevated the curiosity of a lot of the schemes together with Senior Citizen Saving Scheme. On the opposite hand, together with the rise within the repo fee from May 2022, banks have additionally elevated the curiosity of fastened deposits a number of instances. In such a scenario, many banks are giving rate of interest much like Senior Citizen Saving Scheme for senior residents.
Under the Senior Citizen Savings Scheme, the rate of interest is revised each three months. For the quarter from April to June 2023, the federal government has elevated the curiosity below the Senior Citizen Savings Scheme from 8 per cent to eight.2 per cent. If you come below the class of senior citizen and are planning to take a position for larger returns, then tell us what could be the higher possibility for you.
Senior Citizen Saving Scheme
In Budget 2023, the federal government has elevated the funding restrict for Senior Citizen Savings Scheme from Rs 15 lakh to Rs 30 lakh. Investment in this may be executed on thirty first March, thirtieth June, thirtieth September and thirty first December. The curiosity for the April-June quarter has been 8.2 per cent.
SBI Senior Citizen FD Rates
State Bank of India is paying 7% curiosity for fastened deposits with a tenure of lower than 3 years to five years. Whereas for the tenure between 1 yr and a couple of years, 7.3 p.c curiosity is being given. Apart from this, 7.5 p.c curiosity is being given for the tenure between 2 years to three years.
HDFC Bank Senior Citizen FD Rate
HDFC Bank is providing 7.50 per cent curiosity for senior residents with a tenure of 18 months to five years and seven.60 per cent curiosity for a tenure of 15 months to 18 months.
ICICI Bank FD
For senior residents, this financial institution is paying 7.50 p.c curiosity for two years to five years tenure and seven.60 p.c curiosity for 15 to 18 months.
axis financial institution fd curiosity
This financial institution is giving curiosity starting from 7.75 p.c to eight.01 p.c to senior residents on tenure starting from 18 months to five years.
sure financial institution fd curiosity
Yes Bank is giving curiosity starting from 7.75% to eight% to senior residents on tenure starting from 15 months to five years. Under the Special Fixed Deposit, the financial institution is paying 8.25 per cent curiosity on tenure of 35 months.
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