Madhyanchal Gramin Bank offers several beneficial services to the rural population of India. It has a range of products to cater to the needs of its customers. Similar to the regular fixed deposit schemes, Madhyanchal Gramin Bank fixed deposit services offer a safe place for potential customers to invest and save their hard-earned money.Read more
Save upto ₹46,800 in tax under Sec 80C
Inbuilt Life Cover
Tax Free Returns Unlike FD
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
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Get higher Returns than Fixed Deposit along with Tax Benefits
|BANKS||GENERAL CITIZENS||SENIOR CITIZEN|
|Axis Bank FD Rates||2.50% - 5.75%||2.50% - 6.50%|
|Bandhan Bank FD Rates||3.00% - 5.00%||3.75% - 5.75%|
|Bank of Baroda FD Rates||2.80% - 5.25%||3.30% - 6.25%|
|Bank of India FD Rates||2.85% - 5.05%||3.35% - 5.55%|
|Canara Bank FD Rates||2.90% - 5.40%||2.90% - 5.90%|
|Central Bank of India FD Rates||2.75% - 5.00%||2.90% - 3.25%|
|DBS Bank FD Rates||2.50% - 5.50%||3.50% - 6.00%|
|HDFC Bank FD Rates||2.50% - 5.60%||3.00% - 6.35%|
|IDFC Bank FD Rates||2.50% - 6.00%||3.00% - 6.50%|
|Indian Bank FD Rates||2.90% - 5.15%||3.40% - 5.65%|
|Indian Overseas Bank FD Rates||3.40% - 5.20%||3.90% - 5.70%|
|IndusInd Bank FD Rates||2.50% - 6.00%||3.00% - 6.50%|
|Punjab National Bank FD Rates||2.90% - 5.25%||3.50% - 5.75%|
|SBI FD Rates||5.30% - 5.40%||5.80% - 6.20%|
|UCO Bank FD Rates||2.55% - 5.05%||3.80% - 6.30%|
|Yes Bank FD Rates||3.25% - 6.25%||3.75% - 7.25%|
Madhyanchal Gramin Bank allows its customers to deposit a sum of money and select a period, often referred to as the deposit tenure. The deposited amount of money then starts to accumulate regular interest. The salient features of such account and interest are explored in the below segments.
The following tabular segment showcases the Madhyanchal Gramin Bank’s FD rates (according to the official website of the institution):
(Refer to the bank's circular number scheme /2019.20/12 dated 25.02.2020 under the same subject. The rate of interest on domestic fixed amount deposits was changed by the State Bank of India on 12.05.2020. Accordingly, the following are the approved interest rates in the bank.)
|Deposit Tenure||Effective rates for general citizens||Effective rates for senior citizens|
|Current Rate||Revised Rate||Current Rate||Revised Rate|
|Seven to Forty-five days||4.50||3.30||5.00||3.80|
|Forty-six days to One hundred and seventy-nine days||5.00||4.30||5.50||4.80|
|One hundred and eighty days to Two hundred and ten days||5.50||4.80||6.00||5.30|
|Two hundred and eleven days to lower than one year||5.50||4.80||6.00||5.30|
|Over one year but lower than two years||6.00||5.50||6.50||6.00|
|Over two but lower than three years||6.00||5.50||6.50||6.00|
|Over three but lower than five years||6.00||5.70||6.50||6.20|
|Over five years and up to ten years||6.00||5.70||6.50||6.20|
*Fixed Deposit Interest rates are subject to change.
Notes from Madhyanchal Gramin Bank:
The rate of interest under the Tax Saving Scheme will be according to the rate of interest given in the above table for the same period.
Interest at an additional rate of 1.00% p.a. will be paid to the general public on the new/renewed fixed amount deposits received. Staff rate 1.00% along with senior citizen rate 0.50% benefit will also be given on deposits.
Some of the features of Madhyanchal Gramin Bank fixed deposit are:
Madhyanchal Gramin Bank Fixed Deposit calculator is an easy-to-use, hassle-free tool that helps in quick calculation of the maturity amount and the interest earned receivable at the end of the policy tenure. By entering some basic details, you can calculate the correct FD amount. Here are the steps that an investor needs to follow to calculate Fixed Deposit rates on the FD Calculator:
The amount that is invested
The Rate of Interest offered
The tenure of the Fixed Deposit Account
The compounding period, that is, yearly, half-yearly, quarterly, or monthly
The FD Amount
Once entered the following details, an investor will come to know:
The maturity value of the FD
The total interest earned during the complete tenure
Some of the things to know about Madhyanchal Gramin Bank fixed deposit are:
The customer is advised to confirm the terms and conditions with the bank before finalizing as interest rates are subject to change. The Madhyanchal Gramin Bank FD rates are reasonable and reliable. The bank also offers its services via online mode, i.e., customers can open an FD account from the comfort of their homes.
Rate of Interest (Yearly)
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