Fixed Deposit (FD): Numerous individuals utilize fixed deposits as a means of saving money. Various government and private banks provide specialized FD schemes for their customers, which come with a range of benefits. At present, many banks are promoting unique term deposit schemes, with five specific offerings available until March 31, 2025, after which they may be discontinued in April.
The maximum investment limit for all these FD schemes is set at Rs 3 crore, with interest rates exceeding 7%. Notable banks included in this list are SBI, IDBI Bank, and Indian Bank. Interested investors have a window of 15 days to make their investments.
SBI FD Schemes
SBI is currently offering two distinct FD schemes, which may be terminated after March 31. The Amrit Vrishti scheme provides an interest rate of 7.25% for general citizens and 7.75% for senior citizens over a tenure of 444 days. Meanwhile, the Amrit Kalash scheme offers 7.10% interest to general citizens and 7.60% to senior citizens for a tenure of 400 days.
Indian Bank’s Special FD Scheme
Under the Super 400 Day FD Schemes, Indian Bank is offering an interest rate of 7.30% for general citizens, 7.80% for senior citizens, and 8.05% for super senior citizens. Additionally, the Ind Supreme 300 Day Scheme provides 7.05% interest for general citizens, 7.50% for senior citizens, and 7.80% for super senior citizens.
IDBI Bank’s Special Scheme
IDBI Bank, a private sector institution, is also presenting a special FD scheme that may conclude after March 31. This scheme, known as IDBI Utsav FD, offers various tenure options including 300 days, 375 days, 444 days, 555 days, and 700 days. For a tenure of 300 days, the bank offers 7.05% interest to general citizens and 7.50% to senior citizens. For a tenure of 375 days, general citizens receive 7.25% interest, while senior citizens earn 7.75%, and super senior citizens receive 7.90% interest.