Special FD Schemes: The effect of the 25 basis point cut in the repo rate by RBI can also be seen on the interest rates of banks in the coming time. Meanwhile, some banks are giving bumper interest rates on FD till March 31.
Special FD Schemes: In the last few years, the interest rate given by banks on FD has been increased rapidly. The special fixed deposit (FD) scheme with higher interest rate by banks has attracted a lot of investors. The offers available for limited time period in these FD schemes give more interest to the depositors, especially senior citizens, than normal FD. The effect of the increase in repo rate by RBI after the Kovid epidemic is seen on the interest rates of banks.
Investing in special FD schemes is advised for more profit
Reserve Bank of India (RBI) has cut the interest rate in the past few days. Usually, the interest rates of banks run according to the policy of RBI. Therefore, in the coming time, banks can cut the interest rate of FD. It is possible that in the coming time, the special FD scheme may also be closed by the banks. Therefore, people who want more profit are advised to invest before the last date of the special FD scheme.
Attractive FD schemes of banks
Nowadays, many big banks are offering high interest FD schemes. State Bank of India (SBI) Amrit Vrishti and Amrit Kalash Yojana are being liked by the people. Apart from this, Indian Bank has IND Supreme 300 days and IND Super 400 days FD scheme. IDBI Bank has Utsav Callable FD scheme. You can invest in all these FD schemes till 31 March 2025. Let us know about all these FD schemes in detail-
SBI Amrit Vrishti
SBI’s Amrit Vrishti (444 days) scheme gives 7.25% interest rate for common citizens and 7.75% for senior citizens. Similarly, in SBI’s Amrit Kalash (400 days) scheme, common citizens get 7.10% and senior citizens get 7.60% interest. In simple words, in both these schemes of SBI, senior citizens get slightly more interest than common citizens.
IDBI Bank
IDBI Bank’s Utsav Callable FD scheme gives interest rates for different periods ranging from 300 to 700 days. Apart from this, Indian Bank’s IND Supreme 300 days and IND Super 400 days FD schemes also offer good interest rates. In this, super senior citizens get interest up to 8.05%.
Bank of Baroda has launched a fixed deposit (FD) scheme named Monsoon Dhamaka in July 2024. Common people will get 7.15% interest on FD up to 333 days. Senior citizens are given 7.65% interest on this. Common investors will get 7.25% interest on FD of 399 days. 7.40% interest will be given on non-callable deposits. Senior citizens can get interest up to 7.75%.
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