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Vaccinated against Covid-19? Now, you can earn higher interest on fixed deposit

Under the Central Bank of India's Immune India Deposit Scheme, all citizens who have received Covid-19 vaccine will get higher interest on fixed deposits. Vaccinated senior citizens are eligible for an additional 25 bps. Here is all you need to know:

UPDATED: April 13, 2021 12:13 IST

Eligible individuals who have been vaccinated against Covid-19 can now earn extra interest on fixed deposit. The Central Bank of India has started a special deposit scheme where vaccinated citizens will get an additional interest rate of 25 basis points (bps) above the original rate.

Under the public sector bank’s Immune India Deposit Scheme, senior citizens will get an additional 25 bps of interest on bank FDs. The limited period special deposit scheme matures in 1,111 days.

The offer has been launched by the Central Bank of India to encourage eligible citizens to get vaccinated against Covid-19.

In a tweet, the bank said, “To encourage Vaccination under Covid-19, Central Bank of India launches Special Deposit Product “Immune India Deposit Scheme” for 1111 days at an attractive extra Interest rate of 25 basis points above the applicable card rate for Citizens who got Vaccinated.”

The scheme has been launched at a time when India is witnessing a sharp rise in Covid-19 cases. On Tuesday, India reported a daily spike of over 1.6 lakh cases for the second straight day.

ALL ABOUT THE SCHEME

The eligibility is only limited to people who have got vaccinated against Covid-19.

All individuals who have got vaccinated will get 25 bps additional interest on bank deposits under the scheme. Senior citizens who have got vaccinated will get 50 bps.

Here are the latest FD rates offered by the Central Bank of India:

7-14 days: 2.75 per cent

15-30 days: 2.90%

31-45 days: 2.90%

46-59 days: 3.25%

60-90 days: 3.25%

91-179 days: 3.90%

180-270 days: 4.25%

271-364 days: 4.25%

1 year to less than 2 years: 4.90%

2 yr to less than 3 years: 5.00%

3 yr to less than 5 years: 5.10%

5 years to up to 10 years: 5.10%

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