With only a few days remaining for 2024, Punjab and Sindh Bank and IDBI Bank are offering special fixed deposit (FD) schemes.
These offers allow you to invest in FD schemes with higher interest rates.
The last date to invest in these schemes is December 31, 2024, although IDBI Bank has extended the deadline until February 2025.
This presents a great opportunity for those seeking higher interest on their investments in a short period.
IDBI Bank Special FD Scheme
IDBI Bank has introduced FDs with various tenures under the ‘Utsav FD’ scheme. The available tenures are 300, 375, 444, and 700 days, offering attractive interest rates.
Customers also have the flexibility to close the FD early or withdraw money before maturity. The interest rates for these FDs are:
300 days: 7.05% for general customers and 7.55% for senior citizens.
375 days: 7.25% for general customers and 7.75% for senior citizens.
444 days: 7.35% for general customers and 7.85% for senior citizens.
700 days: 7.20% for general customers and 7.70% for senior citizens.
Punjab and Sind Bank Special FD Scheme
Punjab and Sind Bank also offers special FD schemes with tenures of 222, 333, 444, 555, 777, and 999 days.
The original deadline for investment was December 31, 2024, but the bank has already extended the deadline.
It is possible that the bank may extend the deadline again. The interest rates for these FDs are:
222 days: 6.30%
333 days: 7.20%
444 days: 7.30%
555 days: 7.45%
777 days: 7.25%
999 days: 6.65%
Right Time to Invest
Both banks are offering limited-time FD schemes, with the last date to invest being December 31, 2024.
If you are looking for safer investments with higher returns, these FD schemes could be a good option.
When considering investment in FD schemes, keep in mind the duration that suits your needs and the rules regarding early withdrawals or penalties.
