Banks from time to time launch special fixed deposits (FDs) to attract general customers as well as senior citizens. If you are thinking of investing in an FD scheme, then do not miss this golden opportunity. Many banks are offering attractive rates on their special FD schemes. But they are now for a limited period.
Banks are likely to discontinue these special FD schemes from March 31. Therefore, investing before March 31, 2025 can be a wise decision.
Further, the repo rate has been cut by the Reserve Bank of India (RBI) recently, which may lead to a fall in FD interest rates in other schemes as well.
Also read: Want better return than FDs? These 7 great options can be the right bet!
Currently, many major banks are offering high interest rates under special FD schemes:
SBI – Amrit Vrishti & Amrit Kalash
Indian Bank – IND Supreme 300 Days & IND Super 400 Days
IDBI Bank – Utsav Callable FD
Bank of Baroda – Monsoon Dhamaka FD
SBI Special FD Schemes:
Amrit Vrishti (444 days) – 7.25% interest for general citizens, 7.75% interest for senior citizens
Amrit Kalash (400 days) – 7.10% interest for general citizens, 7.60% interest for senior citizens
IDBI Bank – Utsav Callable FD
For 555 days – 7.40% interest for general citizens, 7.90% for senior citizens and 8.05% interest for super senior citizens
Indian Bank Special FDs
Indian Bank – IND Supreme 300 Days & IND Super 400 Days
IND Supreme 300 Days & IND Super 400 Days – Up to 8.05% interest for super senior citizens
Bank of Baroda – Monsoon Dhamaka FD
For 333 days – 7.15% for general citizens, 7.65% for senior citizens
For 399 days – 7.25% for general citizens, 7.75% for senior citizens
Given the possible reduction in interest rates, these schemes are available for a limited period. If you want higher returns, you can invest before 31 March 2025!
Benefits of special FD schemes
If you are looking for an opportunity to earn more interest while keeping your savings safe, special FDs can be a great option.
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