Fixed deposit rates are expected to remain high for some more time as experts believe that the Reserve Bank might leave the key interest rate or repo rate unchanged yet again on December 6, when it announces its last bi-monthly monetary policy review decision of 2024. Thanks to high interest rate regime in the country, banks and NBFCs have kept FD rates attractive for customers. Also, there are banks which have either extended the deadline for special FD schemes or revised upwards the rates on some of their plans.
Indian Bank extends deadline for high-interest special FD schemes
The PSU bank has extended the deadline for its high-interest special fixed deposit schemes, IND Supreme 300 Days and IND Super 400 Days, to March 31, 2025. Offering interest rates as high as 8.05% for super senior citizens, these schemes provide an excellent opportunity for investors to lock in attractive returns.
Also read: Senior Citizen Fixed Deposits: Check top private sector banks offering highest FD interest rates – Full list
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IND Super 400 Days:
This scheme is available for deposits ranging from Rs 10,000 to less than Rs 3 crore, with a tenure of 400 days.
General public: 7.30%
Senior citizens: 7.80%
Super senior citizens: 8.05%
IND Supreme 300 Days:
This scheme applies to deposits from Rs 5,000 to less than Rs 3 crore for 300 days.
General public: 7.30%
Senior citizens: 7.80%
Super senior citizens: 8.05%
Current FD interest rates:
For regular fixed deposits, Indian Bank offers interest rates ranging from 2.80% to 7.10% (excluding special FDs), effective June 12, 2024.
Why invest now?
The extension provides investors more time to secure higher returns amidst fluctuating market conditions. Don’t miss this opportunity to maximize your savings with Indian Bank’s special FDs!
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