NEW DELHI: State-owned lender Bank of India has launched its -- 666 Days Fixed Deposit -- which offers interest rate at 7.95% per annum for Super Senior Citizens. The tenure of the FD is 666 days for deposit amount of less than R2 crore.
The scheme offers 7.8% per annum interest for senior citizens and 7.3% for others. The revised interest rates which are effective from 1 June 2024 are applicable for domestic, NRO and NRE rupee term deposits. Under the scheme, loan against fixed deposit and premature withdrawal facilities are also available, the bank said.
Recently, largest lender State Bank of India also increased the pricing on short-term retail fixed deposits by 25-75 basis points, taking the peak offering to 6.25%, a move other banks also likely to follow amidst rising credit demand and falling liquidity.