Investors have only 12 days left to take advantage of special fixed deposit (FD) schemes offered by IDBI Bank, Indian Bank, Punjab and Sind Bank, and State Bank of India (SBI). These banks have extended the validity of their unique FD plans till 30 September 2024. Initially set to expire in June 2024, the schemes were extended to give customers more time to invest. If you’re looking for secure and high-return investments, here’s everything you need to know about these superhit FD schemes.
IDBI Bank: Festive FD Scheme
IDBI Bank’s Festive FD scheme has become quite popular, offering good interest rates for both short-term and long-term investors. The plan is available for four specific tenures: 300 days, 375 days, 444 days, and 700 days.
- 300 days FD: Ordinary citizens earn an interest rate of 7.05%, while senior citizens enjoy a slightly higher rate at 7.55%.
- 375 days FD: General investors receive an interest of 7.15%, and senior citizens get a rewarding 7.65%.
This scheme allows customers to earn higher returns while keeping their money safe. Senior citizens especially benefit from the increased rates, making it a great option for retirement savings.
Indian Bank: Ind Super FD Scheme
Indian Bank has extended its Ind Super FD scheme, which offers attractive rates for a tenure of 300 and 400 days. The scheme particularly favors senior and super senior citizens with even higher rates.
- 300 days FD: The interest rate for general citizens is 7.05%, while senior citizens earn 7.55%. Super senior citizens, aged above 80, benefit from an even higher rate of 7.80%.
- 400 days FD: General investors receive 7.25%, senior citizens get 7.75%, and super senior citizens are offered an impressive 8.00%.
This scheme is particularly attractive for retirees, who can lock in high-interest rates and make their savings grow faster.
Punjab and Sind Bank: Special FD Scheme
Punjab and Sind Bank’s Special FD scheme has been extended till September 30, 2024, for those looking to make short-term investments. With competitive interest rates, this FD offers flexibility and better returns for shorter tenures.
- 222 days FD: Customers are offered an interest rate of 6.30%.
- 333 days FD: For a slightly longer duration, investors can earn 7.15% interest.
This FD plan is perfect for investors who prefer short-term investments but still want to enjoy higher interest rates than regular savings accounts.
SBI: Amrit Kalash and WeCare Schemes
SBI has extended two of its most popular FD schemes, Amrit Kalash and WeCare, providing an excellent opportunity for both regular and senior citizens to earn high returns.
- Amrit Kalash FD Scheme: This scheme offers a tenure of 400 days, with general citizens receiving an interest rate of 7.10%, while senior citizens earn a higher rate of 7.60%.
- SBI WeCare Plan: This special scheme is designed exclusively for senior citizens, offering an additional premium of 50 basis points over the current interest rates, which makes it a highly attractive option for retirees.
The WeCare scheme is specifically crafted to provide financial security for senior citizens, giving them a chance to invest their funds and benefit from better returns.
Key Takeaways for Investors
As the September 30 deadline approaches, it’s crucial for investors to act swiftly and secure these high-interest FDs. These schemes offer not just good returns but also security for your savings. Whether you’re looking for short-term gains or a long-term investment strategy, these FDs cater to every type of investor, with special benefits for senior citizens.
