FD Interest Rate: These government banks are offering interest up to 8.40% on FD.

 

FD Interest Rate: These government banks are offering interest up to 8.40% on FD.

Some banks have also extended the last date of their special FD. During this period, PNB, BOB, Federal Bank and IDBI Bank have changed the interest rates of their FDs in January 2024.



Bank FD Interest Rates: Since the beginning of the new year, many banks have changed their FD interest rates. Apart from this, some banks have also extended the last date of their special FD. During this period, PNB, BOB, Federal Bank and IDBI Bank have changed the interest rates of their FDs in January 2024. Let us know which banks have increased the interest rates in January 2024?

PNB Bank FD Interest Rates:

Punjab National Bank (PNB) has changed the interest rate on FD twice in January. The bank increased the rate by 80 basis points on the same tenure. The bank increased the interest rate on 300 day FD by 80 bps from 6.25% to 7.05% for general customers. Senior citizens are being given 7.55% interest and super senior citizens are being given 7.85% interest. After the change, the bank is offering interest rates between 3.50% to 7.25% for regular customers. For senior citizens, the bank is offering interest between 4% to 7.75%.

Federal Bank FD Interest Rates:

Federal Bank has increased the interest rate for 500 days to 7.75% and for senior citizens to 8.25%. Federal Bank is now giving a maximum return of 8.40% to senior citizens for a period of 500 days. The interest rate for non-withdrawable FDs for amounts between Rs 1 crore and Rs 2 crore has been increased to 7.90%. After the change, Federal Bank is offering FD interest rates between 3% to 7.75% for normal customers for tenures ranging from 7 days to 10 years. For senior citizens, the bank offers interest rates between 3.50% to 8.25%.

IDBI Bank FD Interest Rates:

IDBI Bank has also changed the interest rate of FD. After the change, the bank is offering FD interest rates between 3% to 7% for normal customers for tenures ranging from 7 days to 10 years. For senior citizens, the bank gives interest between 3.50% to 7.50%. These rates have been implemented from January 17, 2024.

Bank of BarodaFD Interest Rates:

Bank of Baroda has launched special short term FD with new maturity period. In this, customers get higher interest rates. The new rates are applicable for deposits of less than Rs 2 crore and have been made effective from January 15, 2024. The bank has offered a new maturity FD named 360D (bob360), which gives an interest of 7.10% to the general citizens. Apart from this, it offers 7.60% interest rate to senior citizens. After the change, the bank is giving interest between 4.45% to 7.25% to normal customers for a period ranging from 7 days to 10 years. Senior citizens are being offered 50 basis points higher interest rates.


Comments

Post a Comment

Popular posts from this blog

Senior Citizen Train Ticket Discount: Government has issued a new statement regarding giving discount to senior citizens on train tickets, know the details here

Image
  Senior Citizen Train Ticket Discount: Once again a demand has been made in the Lok Sabha to give discount to senior citizens on train tickets. Senior Citizen Train Ticket Discount:  Railways has withdrawn the discount given to senior citizens on train tickets since the Corona period. However, from time to time there has been a demand to restore this concession given to senior citizens in trains. Even in the winter session of the Lok Sabha, some members raised the demand for increasing fare concessions and facilities for senior citizens traveling in trains. However, even before this, Railway Minister Ashwini Vaishnav has told in the Lok Sabha that during the train journey, every passenger is given an average subsidy of 53 percent on the train ticket. Apart from this, he also told who gets discount on tickets while traveling by train. Demand for discount in train tickets raised again During Zero Hour in the House, Janata Dal (United) MP Kaushalendra Kumar said that before the ...
Read more

Cash Transaction Rules: Income tax rules on cash transaction between Husband-Wife and Son-Father, know rules

Image
  Cash Transaction Rules: Income tax keeps an eye on our every transaction. But is there any tax on cash transactions or can Income Tax send a notice? Or how much cash transaction can take place between you and your wife or between father and son? If you also have these questions in your mind, then let us know their answers… If you also transact money between father and son or between husband and wife, then this news is useful for you. Actually, every transaction of ours has an eye on income. In such a situation, a question arises in the minds of many people whether income tax notice can be received even on cash transactions? Let us know how much cash transaction you can do in your family. Income tax sends notice? According to tax experts, if you give money every month for household expenses or give money as a gift, then the wife is not liable for income tax. Both these types of amounts will be considered as the income of the husband. The wife will not receive any notice from the I...
Read more

Have a Current/Savings Bank Account? Know the Cash Deposit Limits under Income Tax Act to avoid Penalties and Notices

Image
  Adhering to cash deposit and withdrawal limits is crucial to remain compliant with the Income Tax Act in India. This article aims to elucidate the various facets of cash-related regulations, encompassing savings and current accounts, fixed deposits, credit card bill payments, real estate transactions, and more.  Cash Deposit Limits in Savings and Current Accounts The Indian Income Tax Act imposes specific regulations on significant cash deposits in savings accounts. Individuals accumulating INR 10 lakh or more during a fiscal year must notify tax authorities.  For current accounts, this threshold is set higher at INR 50 lakh. Although not immediately taxed, financial institutions report transactions exceeding these limits.  Cash Withdrawal and TDS under Section 194N  Section 194N outlines TDS rules for cash withdrawals. A 2% TDS is levied on withdrawals exceeding INR 1 crore within a fiscal year. Non-filers face a 2% TDS on withdrawals over INR 20 lakh and a 5...
Read more