look news india
New Delhi: There is good news for those investing in Fixed Deposit (FD). Bandhan Bank has changed the interest rates on FD. This bank has increased the maximum interest on FD to 8.05 percent. This is on one-year deposits. That is, if a general investor makes a one-year FD, he will get 8.05 percent interest. Whereas for senior citizens this interest rate is 8.55 percent. Apart from this, the bank has also revised the interest rates on other FDs. Along with this, new schemes have also been started. Let us tell you that this bank gives different interest on FDs ranging from 7 days to 10 years. Senior citizens get more interest than general investors.
This FD was withdrawn
The bank has withdrawn the 8 percent interest rate scheme. Also, the bank has decided to give 8 percent interest on FDs with maturity ranging from one year one day to one year nine months. Earlier, interest was given at the rate of 7.25 percent on deposits from one year to one year nine months.
New Tax Saving Scheme Launched
The bank has also launched new schemes. This includes a 5-year tax saving FD scheme. In this, investors will get interest at the rate of 7 percent. At the same time, interest is given at the rate of 5.85 percent on normal deposits of more than five years. Senior citizens will get 7.5 percent interest for the tax saving scheme.
The bank is giving this much interest on different FDs
7 to 30 days: 3%
31 days to two months: 3.50%
2 months to one year: 4.50%
One year: 8.05%
One year 1 day to one year 9 months: 8%
One year 9 months to 5 years: 7.25%
5 years to 10 years: 5.85%
Note: This interest rate is for general investors. For senior citizens the interest rate will be slightly higher.
What is the stock status?
The share price of Bandhan Bank is currently around Rs 205. On Monday, it fell by about one percent (Rs 2.06). In the last 6 months, the stock has given investors a return of about 13 percent. On the other hand, if we talk about one-year returns, investors have suffered a loss. This loss was about 17 percent. This stock has also caused losses to investors in the long term. In 5 years, this loss was about 59 percent. That is, more than half of the investors' money has been lost in 5 years.