In recent years, banks have significantly increased interest rates on Fixed Deposits (FDs).
Special FD schemes with higher returns have become popular, especially among senior citizens.
These limited-time schemes offer better interest rates than regular FDs.
One of the key reasons behind this increase is the rise in repo rates by the Reserve Bank of India (RBI) after the COVID-19 pandemic.
Invest Now Before Interest Rates Drop
Recently, the RBI has reduced interest rates, which may cause banks to lower their FD interest rates soon. There is also a chance that banks might discontinue their special FD schemes.
If you are looking for higher returns, it is a good idea to invest in these schemes before they expire.
Attractive FD Schemes from Top Banks
Several leading banks are currently offering high-interest FD schemes:
SBI Amrit Vrishti & Amrit Kalash Yojana
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
Provides competitive interest rates for tenures ranging from 300 to 700 days.
Indian Bank IND Supreme & IND Super FD
IND Supreme (300 days) and IND Super (400 days) offer 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 special FD schemes are available for investment until March 31, 2025. If you want a safe investment with high returns, now is the perfect time to invest.
