Small Savings Scheme: These 3 schemes are giving more than 8% return in 2 years, who can avail and how

 | 
a

8.05 percent interest is being given to senior citizens on RDs of Jana Small Finance Bank maturing in two years. The rate of RD is higher than the current inflation rate of 6.71 percent. If the RD is broken prematurely, there will be a penalty of 0.5% on the interest.

A recurring deposit is such a means of investment in which if an equal amount is deposited then it can be easily found later. A recurring deposit i.e. RD is invested every month, on which the benefit of a pre-determined rate of interest is available. Investing in RD is done in the same way as investing in SIP of mutual funds. The most important thing is that the investor chooses the tenor according to him, for how many months or for how many years he has to run the account. RD account can be operated from 6 months to 10 years. In this episode, three RD schemes are giving more than 8 percent return to the customers in 2 years. These schemes are for senior citizens. Let us know about them.

1-Jan Small Finance Bank

The RD rate of Jana Small Finance Bank is effective from June 15, 2022. The tenure of this scheme is a minimum of 6 months and a maximum of 120 months. RD account has to be opened in Jan Small Finance Bank with a minimum of Rs 100. After this, the deposit will have to be started from Rs 100 every month. 8.05 percent interest is being given to senior citizens on RD maturing in two years of this bank. The rate of RD is higher than the current inflation rate of 6.71 percent. If the RD of Jana Small Finance Bank is broken prematurely, there will be a penalty of 0.5 percent on the interest.

2-Utkarsh Small Finance Bank

The new rates of RD of Utkarsh Small Finance Bank are applicable from August 12, 2022. To open an RD account with this bank, a scheme of at least six months and a maximum of 10 years will have to be taken. Senior citizens are getting 8% interest on RDs of more than 21 months but less than 24 months. According to Utkarsh Small Finance Bank, if the RD account is closed prematurely or the money is withdrawn, then 1% less interest will be given from the fixed interest rate.

3-North East Small Finance Bank

The new RD rates of North East Small Finance Bank are applicable from April 1, 2022. This bank offers 8% interest on RD of 2 years to senior citizen customers. This rate is higher than the inflation rate, as well as getting more benefits from the Small Savings Scheme. This bank is giving 4.25 percent interest to the general public and 4.75 percent to senior citizens on RD of 3 months. 4.50 on 6 months RD and 5 percent interest is being given to senior citizens. 5.50 on 9 months RD and 6% interest is being given to senior citizens. 5.50 on 1 year RD and 6% interest is being given to senior citizens.

North East Small Finance Bank is giving 7.50 interest to common people and 8% to senior citizens on 2-year RD. 7 percent interest is being given on 3-year RD and 7.50 percent to senior citizens, 7 percent on 4-year RD, and 7.50 percent to senior citizens. On RD of 5 years, 6.50 interest is being given to common people and 7% to senior citizens, 6.50 to the common depositor, and 7% to senior citizens on RD of more than 5 years and less than 10 years.