Better than SBI, HDFC Bank: New Modi Govt scheme offers better interest in 2 years

Jul 05, 2023 Rajeev Kumar

Planning to invest in fixed deposit for 2 years? You can get better interest in a new scheme launched by the Central Govt than SBI or HDFC Bank.

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The scheme named Mahila Samman Savings Certiticate (MSSC) is offering 7.5% interest to depositors for a term of two years.

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However, an MSSC account can be opened only in the name of a woman or a girl.

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While MSSC offers 7.5% interest, SBI fixed deposit offers 6.8% interest to customers on deposits of 1 year to less than 2 years.

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For deposits of 2 years, SBI offers 7% interest.

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Similarly, HDFC Bank is also offering 7% interest on deposits of 21 months to 2 years.

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The MSSC interest rate is also higher than the 7% interest offered on 2-year Post Office Time Deposits.

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You can read more details about the MSSC scheme by clicking on the link given below.

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