Fd rates: Given the RBI’s possible interest rate deduction, this is the right opportunity to invest in these special FD schemes soon. If banks reduce the interest rates, investors will get less interest on FDs in future. If you want to take advantage of higher interest rates, they can invest in these schemes before 31 March 2025. In recent years, banks have offered special fixed deposits (FD) to attract investors. These include more interest than traditional FDs. Especially senior citizens get better returns from these schemes.
However, the recent policy rates of the Reserve Bank of India (RBI) have increased the possibility that FD’s interest rates may also decrease. Since interest rates usually change as per RBI’s monetary policy, it is also likely that banks may soon discontinue these special FD schemes. For this reason, investors are advised to take advantage of these special schemes by investing before the time limit of 31 March 2025.
Major FD schemes of banks and their interest rates
1. State Bank of India (SBI) – Amrit Vrishti & Amrit Kalash
2. Indian Bank – IND SUPREME 300 Days & Ind Super 400 Days
3. IDBI Bank – Festive Callable FD
4. Bank of Baroda – monsoon explosion FD
SBI’s Amrit Vrishti and Amrit Kalash FD
Amrit Vrishti (444 days)
7.25% interest for ordinary citizens
7.75% interest for senior citizens
Amrit Kalash (400 days)
7.10% interest for ordinary citizens
7.60% interest for senior citizens
IDBI Bank’s festive callable FD
In this scheme, different interest rates are given for different maturity periods of 300 to 700 days.
Indian Bank’s special FD schemes
Ind Supreme 300 Days & Ind Super 400 Days
Maximum 8.05% interest for super senior citizens
General investors are also getting more interest.
Bank of Baroda’s monsoon explosion FD
333 days FD – 7.15% for ordinary citizens and 7.65% interest for senior citizens.
399 days FD-7.25% for ordinary citizens, 7.40% on non-callable deposits and 7.75% for senior citizens.
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