Special FD Schemes: SBI and IDBI FDs are giving highest interest, invest by March 31 for more benefits

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Jyoti
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Special FD Schemes: In the last few years, the interest rate given by banks on FDs has been increased rapidly. The special fixed deposit (FD) scheme with higher interest rate from the banks has attracted a lot of investors. 

The offers available for limited time period in these FD schemes give higher interest to the depositors, especially senior citizens, than normal FDs. The effect of the increase in repo rate by RBI after the Covid epidemic is seen on the interest rates of banks.

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Advice to invest in special FD schemes for higher profits

The Reserve Bank of India (RBI) has cut the interest rate in the past few days. Usually, the interest rates of banks are determined by the RBI policy. Therefore, in the coming time, banks may cut the interest rate on FDs. It is possible that in the coming time, banks may also discontinue the special FD scheme. Therefore, people who want more profits are advised to invest before the last date of the special FD scheme.

Attractive FD schemes of banks

Nowadays, many big banks are offering high interest FD schemes. State Bank of India (SBI) Amrit Vrishti and Amrit Kalash Yojana are being liked by the people. Apart from this, Indian Bank has IND Supreme 300 days and IND Super 400 days FD scheme. IDBI Bank has Utsav Callable FD scheme. You can invest in all these FD schemes till 31 March 2025. Let us know about all these FD schemes in detail-

SBI Amrit Vrishti

SBI’s Amrit Vrishti (444 days) scheme offers an interest rate of 7.25% for general citizens and 7.75% for senior citizens. Similarly, in SBI’s Amrit Kalash (400 days) scheme, general citizens get 7.10% interest and senior citizens get 7.60% interest. In simple words, in both these schemes of SBI, senior citizens get slightly more interest than general citizens.

IDBI Bank

IDBI Bank’s Utsav Callable FD scheme offers interest rates for different tenures ranging from 300 to 700 days. Apart from this, Indian Bank’s IND Supreme 300 days and IND Super 400 days FD schemes also offer good interest rates. In this, super senior citizens get interest up to 8.05%.

Bank of Baroda has launched a Fixed Deposit (FD) scheme named Monsoon Dhamaka in July 2024. Common people will get 7.15% interest on FDs up to 333 days. Senior citizens are given 7.65% interest on this. Common investors will get 7.25% interest on FDs of 399 days. 7.40% interest will be given on non-callable deposits. Senior citizens can get interest up to 7.75%.

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