In recent years, banks have rapidly increased interest rates on Fixed Deposits (FDs). Special FD schemes offering higher interest rates have become attractive to investors, especially senior citizens.
These limited-period schemes provide better returns than regular FDs. The rise in repo rates by the Reserve Bank of India (RBI) after the COVID-19 pandemic has influenced these higher bank interest rates.
Invest in Special FD Schemes for Higher Returns
Recently, the RBI has reduced interest rates, which may lead banks to lower their FD interest rates in the future. There is also a possibility that banks might discontinue special FD schemes.
Therefore, investors looking for higher returns should consider investing before these schemes expire.
Attractive FD Schemes from Leading Banks
Currently, several major banks offer high-interest FD schemes:
SBI Amrit Vrishti & Amrit Kalash Yojana – Popular among investors, these schemes provide:
Amrit Vrishti (444 days): 7.25% for general citizens, 7.75% for senior citizens.
Amrit Kalash (400 days): 7.10% for general citizens, 7.60% for senior citizens.
IDBI Bank Utsav Callable FD – Offers attractive interest rates for tenures ranging from 300 to 700 days.
Indian Bank IND Supreme & IND Super FD Schemes –
IND Supreme (300 days) and IND Super (400 days) provide high returns, with super senior citizens earning up to 8.05% interest.
Bank of Baroda Monsoon Dhamaka FD (July 2024) –
333 days: 7.15% for general citizens, 7.65% for senior citizens.
399 days: 7.25% for general citizens, 7.40% for non-callable deposits, and up to 7.75% for senior citizens.
These FD schemes are available for investment until March 31, 2025. If you are looking for a safe and high-return investment, now is the right time to invest in these special FD schemes.