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More exciting than bank FDs

April 3, 2009

Makrand Raina opted for bank deposits in order to save regularly.

While he was looking for banks that offered the highest rates on fixed deposits, he realised that some financial institutions have customised their deposit schemes.

For instance, the country's largest bank, State Bank of India, has about five different schemes.

Apart from tax-saving, recurring deposit and term deposit, the bank also offers a multi-option deposit scheme and a reinvestment plan.

Text: Tinesh Bhasin

Illustration: Uttam Ghosh

Also read: Interesting home loan options

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