Deposit Schemes

Non-linked policies must be availed of by that deadline to earn tax-free return without cap

Find out how governments and central banks ensure that the depositors' money is protected in case of fallout, like Silicon Valley Bank (SVB) here

The bank has also tweaked the deposit rate for 555 days

Apart from the special deposit scheme, Bank of India has raised interest rate on its existing 555-days fixed deposit scheme to 6.30 per cent

Outstanding deposits declined to $135.9 billion at the end of June 2022 from $141.5 billion a year ago.

Bank of Baroda has launched a new deposit scheme offering interest rates of up to 6 per cent on domestic retail term deposits. The 'Baroda Tiranga Deposit Scheme' marks the 75th Independence Day of India, which is a special term deposit scheme offering higher interest rates, the bank said in a release on Tuesday. The scheme, to be available till December 31, 2022, has two tenor buckets of 444 days and 555 days, offering interest rates of 5.75 per cent per annum and 6 per cent per annum, respectively. The scheme was launched on Tuesday and is applicable on retail deposits below Rs 2 crore, the bank said. Senior citizens will get additional interest rates on their deposits under the scheme.

HDFC Ltd said individuals can earn interest at 6.55 per cent on their deposits, whose period can range from 3-10 years

The new norms are applicable for deposits in all commercial banks, small finance banks, local area banks, and cooperative banks.

The State Bank of India (SBI) has introduced a special deposit scheme for senior citizens with a higher interest rate

The rules under the Act may hold the key to its implementation, say experts

Bill proposes to ban deposit takers from promoting, operating, issuing advertisements or accepting deposits in any unregulated deposit scheme.