Special FDs: Earn up to 8% interest on fixed deposits with THESE 5 banks till March 31
Special FDs: As the Reserve Bank of India (RBI) has reeatedly hiked the repo rate, various public and private sector banks have increased the interest rate on fixed deposits (FD) as well. There are also numerous banks that are providing customers with Special FD schemes which are offering interest on the fixed deposits on a daily basis. The last date to avail the benefit of these special FD schemes is March 31.
SBI Special Fixed Deposit
Public sector bank, SBI has launched a special FD scheme for 400 days — Amrit Kalash. In this scheme, senior citizens will get a guaranteed 7.1 per cent interest on FD. According to SBI's website, people can invest in this FD only till March 31, 2023.
HDFC Bank Special Fixed Deposit
On 18 March 2020, HDFC Bank had launched – Senior Citizen Care FD scheme. According to the scheme, senior citizens can get up to 7.75 percent interest on FD, and the last date to do so is March 31.
Indian Bank Special FD
The bank launched a special FD scheme– Ind Shakti 555 Days on December 19, 2022. According to the scheme, the general public will get 7.1 per cent interest on FD and senior citizens will get up to 7.6 per cent interest on FD and super senior citizens will get 7.85 per cent. One can invest in this special FD only till March 31, 2023.
IDBI Bank Special FD
IDBI Bank launched a special fixed deposit scheme– IDBI Naman Senior Citizen Deposit. According to the bank's website, senior citizens will get 75 basis points (bps) more interest than the current interest rates. One can invest in this scheme till March 31, 2023.
Punjab and Sind Bank Special FD
Punjab and Sind Bank is providing investors with 4 special FD schemes. These include schemes like PSB Fabulous 300 Days, PSB Fabulous Plus 601 Days, PSB e-Advantage Fixed Deposit, and PSB-Utkarsh 222 Days. These schemes offer the general public interest rates ranging from 7 per cent to 8 per cent. Apart from this, the rate of interest provided to senior citizens ranges from 7.5 per cent to 8.5 per cent. Meanwhile, super senior citizens will get the benefit of interest ranging from 7.5 per cent to 8.85 per cent.