For empowering the women race of India, Bharatiya Mahila Bank has provided with three FD schemes with amazing returns. However, the interest rates offered may change according to the different FD schemes. You can stay updates with the bank's FD rates India and best fixed deposit rates at loanbaba.com.
The short-term FDs earn lower returns when compared to long-term FDs. The short-term fixed deposit ranges from 7-364 days where the returns hover around 5%-7.50% on a yearly basis. The tenures of one, two and three months can enjoy the return of 5%, whereas the tenure of four months can earn 7%. Moreover, the tenures of six and nine months can earn you 7.50% easy returns.
The bank provides higher returns on the long-term deposits which are generally for over one year. For the tenure of one year, it offers FD rates of 7.90% per annum, and it eventually drops by 0.15% when the tenure exceeds to one to three years, making it 7.75% per annum. On the other hand, the returns will continue depleting when the tenure is of three to ten years, making it 7.50% per year.
The bank provides with special offers on FD interest rates for the senior citizens with FDs. Those having FDs with BMB are eligible for the schemes, and a senior citizen can earn 0.5% extra on his/her tenure. Therefore, the tenures of one two and three months can make them 5.50% returns per annum and for the holding of six-month will get them 7.50% interest.
With the increasing tenure, the Bharatiya Mahila Bank FD rates will also increase and therefore, the tenures of six or nine months will avail 8% return. 8.25% interest rate per annum is for the tenure of one to three years, and it becomes 8.50% per annum for the tenure of 3-10years. The FD India scheme for the bank for long-term holding of one year can provide you with 8.40% returns.