SBI FD Investment: People prefer to invest in fixed deposits (FDs) for secure returns. For the past few months, the Reserve Bank has kept the repo rate stable, while banks have increased the interest rate on FDs. The interest rate of some special tenure FDs is higher than normal FDs. This is the reason why FDs with special tenure have attracted investors. However, now the deadline for special FD schemes is about to end.
deadline is ending
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 for a period of 300-444 days. If you are a risk-averse person and want safe returns, then you have to decide on investing 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 interest per annum. At the same time, investors in the general, NRE and NRO (non-resident ordinary) category can earn 7.05 to 7.35 percent interest per annum. Similarly, SBI’s Amrit Kalash FD scheme with a tenure of 400 days also offers interest rates of 7.10 and 7.60 percent 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 percent, while the IND Super scheme with a tenure of 400 days offers an interest rate of 7.25 percent. These rates apply to both normal and NRO investors.
