Many lenders in the country are offering better offers on deposits. There are different interest rates for different tenures depending on the deposit product. Recently the country’s top lender State Bank of India (SBI) and housing finance company HDFC have launched new fixed deposit products.
On one hand SBI started Platinum Term Deposit scheme, while on the other hand, Green deposit has been launched by HDFC. Know who is better for investment…
SBI Platinum Deposit
The country’s largest public sector bank has launched a special deposit scheme on the occasion of 75th Independence Day. Under Platinum Term Deposit, customers can avail additional interest benefit of up to 15bps on Fixed Deposits for tenures of 75 days, 75 weeks, and 75 months from 15 August 2021 to 14 September 2021. Talking about the interest rate, SBI is offering 3.90 percent interest for the general public on 75 days term deposit, while it is proposed to give 3.95 percent interest on platinum deposit.
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For a period of 525 days, 5% interest is available now. But platinum will get 5.10 percent interest. At the same time, it is proposed to pay 5.55 percent interest on 2250 days term deposit instead of 5.40 percent.
Fixed interest rate for senior citizens
At present, it is proposed to pay 4.45 percent interest instead of 4.40 percent interest, 5.60 percent interest instead of 5.50 percent for 525 days and 6.20 percent interest for 2250 days.
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HDFC Green Deposit
Housing Development Finance Corporation Limited (HDFC Ltd) has launched the Green & Sustainable Deposits scheme. Let’s know some special things related to this scheme
Any Indian can invest in it. The time limit for making deposits in this scheme is from 36 months to 120 months. Senior citizens will get an additional 0.25 per cent on deposits of Rs 2 crore.
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