There is good news for those who feel that the interest rates on fixed deposits are too low. Some renowned banks are offering 8.10% interest on investments made until 31 December 2024. If you’ve been receiving only 7% or 7.5% interest, this is a golden opportunity to invest your money at a better rate. Below, we provide details about the fixed deposit schemes of these banks, along with other useful information.
1. IDBI Bank FD Scheme
IDBI Bank is offering an interest rate of 8.10% on fixed deposits for 300 days, 375 days, 444 days, and 700 days. This offer is available only for investments made until 31 December 2024, under the UTSAV FD scheme. In comparison, other banks are offering returns of only 7.35% and 7.20% on FDs for 300 days, 375 days, 444 days, and 700 days, while senior citizens receive rates of 7.55%, 7.75%, 7.85%, and 7.70%, respectively.
2. Punjab and Sind Bank FD Schemes
Punjab and Sind Bank offer several special FD schemes with varying tenures. According to the bank’s website, the last date to invest in these FDs is 31 December 2024. Special FDs with a tenure of 222 days offer a high interest rate of 6.30%. The bank offers an interest rate of 7.20% on special deposits with a tenure of 333 days.
The Atal Pension Yojana is a government-sponsored savings instrument for individuals over the age of 60. It secures your post-retirement age with fixed income and tax-free benefits.
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— Punjab & Sind Bank (@PSBIndOfficial) December 17, 2024
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For a tenure of 444 days, the bank provides an interest rate of 7.30% for general citizens. For 555-day (callable) deposits, the bank offers an interest rate of 7.45%. Special deposits with a tenure of 777 days yield 7.25%, and 999-day (callable) deposits earn 6.65%.
FD Rates for Senior Citizens
Senior citizens will receive an additional interest rate of 0.50% on FDs of amounts less than Rs 3 crore, provided the tenure is 180 days or more. The bank offers interest rates ranging from 4% to 7.95% for callable deposits with tenures of up to 555 days.