Banks are luring customers for deposits with higher interest rates and offers for boosting digital transactions through UPI.
State-run Bank Of India has introduced a ‘super special fixed deposit’ at an interest rate of 7.5% for deposits between ₹2 core and ₹50 crore, while DCB Bank has launched a savings account that offers cashback for digital transactions.
The super special fixed deposit at the Bank Of India is for a limited period and gives 7.5% for 175 days, according to a release.
DCB’s savings account holders may get cashback rewards for UPI debit transactions, with a minimum transaction amount of ₹500. “Customers will make the most of their everyday banking, with…
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Source: https://b2bchief.com/boi-hikes-rates-for-big-deposits-dcb-offers-rewards-on-upi-spends/