The festive season is going to start soon and in such a situation, many types of special fixed deposit schemes will also be launched by banks. Recently Special 400-Day Retail Term Deposit has been announced by Bank of India (BOI). It is starting from 27 September 2024.
What is this retail term deposit?
Customers are being given the benefit of excellent interest rates on this retail term deposit. This will be applicable on amounts less than Rs 3 crore. Its tenure is 400 days i.e. money has to be deposited for 400 days. On this term deposit, interest rates of 8.10% are being given to Super Senior Citizens, 7.95% to Senior Citizens and 7.45% to general citizens.
Whereas on pre-withdrawal, the benefit of interest rates is being given to Super Senior Citizens at 7.95%, to Senior Citizens at 7.80% and to ordinary citizens at 7.30%. Customers can invest in this scheme from today. Application can be made through both online and offline modes.
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