Business News Desk – People prefer to invest in Fixed Deposit (FD) for safe returns. For the last few months, the Reserve Bank has kept the repo rate stable, while banks have increased the interest rate of FD. The interest rate of some special period FDs is higher than normal FDs. This is the reason why special period FDs have attracted investors. However, now the time limit of special FD schemes is about to expire.
The deadline is expiring
In fact, the last date to invest in the special FD scheme of three major banks – State Bank of India (SBI), IDBI and Indian Bank is 30 September. Such schemes offer interest rates of up to 7.05-7.35 percent per annum in a period of 300-444 days. If you are a risk-averse person and want safe returns, then you have to decide to invest in this scheme before the deadline of 30 September expires.
What is the interest rate of which scheme
IDBI Bank’s Utsav FD scheme offers special FDs with tenures of 300, 375, 444 and 700 days. In this scheme, senior citizens can earn 7.55 to 7.85 percent annual interest. At the same time, investors in the general, NRE and NRO (non-resident ordinary) category can earn 7.05 to 7.35 percent annual interest. Similarly, SBI’s Amrit Kalash FD scheme with a tenure of 400 days also offers 7.10 and 7.60 percent interest rates to general and senior citizens respectively.
Apart from this, Indian Bank has special FD schemes IND Supreme and IND Super. The IND Supreme scheme with a tenure of 300 days offers an interest rate of 7.05 per cent, while the IND Super scheme with a tenure of 400 days offers an interest rate of 7.25 per cent. These rates apply to both normal and NRO investors.
