With the Reserve Bank of India frequently changing repo rates, several Indian banks have hiked interest rates on FDs for their customers. If you are also interested in taking advantage of attractive rates, we are here to help you. Here is a list of some banks that have announced special FD or limited-period FD schemes for their customers. You must remember that these special and limited offers are all ending on March 31, 2023.
State Bank of India (SBI) unveiled a new Fixed Deposit (FD) scheme with attractive interest rates and a 400-day term for domestic and NRI clients. Senior customers will receive 7.60 per cent interest on their FDs under the SBI Amrit Kalash Deposit FD Scheme. The SBI Amrit Kalash Deposit, however, is only good for a short investment tenure.
Indian Bank introduced the “IND SHAKTI 555 DAYS” special retail term deposit product. The scheme offers a higher rate of interest for investments between Rs 5,000 and less than 2 crore for 555 days.
Punjab And Sind Bank, Special FD Schemes PSB Fabulous 300 Days, PSB Fabulous Plus 601 Days, PSB e-Advantage Fixed Deposit and PSB-Utkarsh 222 Days, are a few examples of schemes ending on March 31. These are the schemes a customer can invest in for higher returns than usual.
IDBI Bank has come up with the IDBI Bank Naman Senior Citizen Fixed Deposit program. Senior citizens are eligible for up to 0.75 per cent extra interest on this scheme. A minimum deposit of Rs 10,000 is required. The plan also allows for premature withdrawals. The IDBI Bank will impose a 1% charge on any early withdrawals, including sweep-ins and partial withdrawals.
For senior citizens who want to take advantage of an appealing rate of interest on FDs, the HDFC Bank Senior Citizen Care FD offers a 0.75% extra interest rate. HDFC Senior Citizen Care scheme is offering an interest rate of 7.75 per cent per annum to senior citizens on FD. This FD is for a period of 5 years and 1 day to 10 years.
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