Special FD: If you want to get more interest on FD in less time, then you have the opportunity only till 30 September. Many banks including SBI have announced to close their special FD.
Its deadline has also been kept till 30 September 2024. Here you will get up to 8 percent interest, that too in a period of one year.
New Delhi. Higher interest on short-term FDs, if you also want to take advantage of this scheme, then only 12 days are left. This special FD of 3 government banks including SBI will be closed on 30 September. These government banks had launched this special FD to attract customers. SBI, IDBI and Indian Bank offer interest ranging from 7.05 percent to 7.35 percent on their special FDs.
The biggest thing is that the tenure of these FDs is only 300 days to 444 days. This means that if you deposit money for about a year, you get more than 7 percent interest. Usually, one-year FDs get around 6 percent interest. So if you do not like to take more risk and want to get more interest, then you can invest in FDs of these three banks before September 30, 2024.
Interest on FDs is going to decrease.
It is being speculated that the US central bank Federal Reserve may reduce interest rates for the first time in 4.5 years after inflation and other figures come under control. After this, RBI can also decide to reduce the repo rate in India. In such a situation, there is a big expectation that banks will also reduce the interest rate on FDs in the future. Obviously, you can also get less interest on FD in the future. In such a situation, it would be better to take advantage of this special FD.
Also Read: Sahara Refund: Good news! Central govt increased the limit of refund amount for Sahara depositors
How much interest is there on IDBI FD
IDBI Bank’s Utsav FD scheme has been launched for 300, 375, 444, and 700 days. Under this scheme, senior citizens get 7.55 to 7.85 percent interest, while other general investors get 7.05 percent to 7.35 percent interest. This interest is decided on the basis of the tenure of the FD.
How much will SBI pay
SBI had also launched a special FD called Amrit Kalash. This FD of 400 days is getting 7.10% interest, while senior citizens are given 7.60% interest. The validity of this FD is also ending on 30 September. Indian Bank is also offering 7.05% interest to general citizens, 7.55% to senior citizens and 7.80% to super senior citizens on its 300-day Super FD. The interest on 400-day FD starts from 7.25% and goes up to 8%.
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