New Delhi: The recent interest rate hikes by the Reserve Bank of India might have taken your EMI burdens higher, but on the bright side, the FD rates have also improved. Several banks have passed on the benefits of better FD returns to customers after the spate of key interest rate hikes by the central bank.
Meanwhile, some banks including SBI, HDFC Bank, Indian Bank, IDBI bank and Punjab & Sind Bank had announced special FD scheme or limited period FD Schemes for its customers which are all ending on 31 March 2023.
Here is looking at 5 special fixed deposit schemes that are going to end on 31st March 2023
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SBI Amrit Kalash Deposit FD Scheme
India’s largest lender State Bank of India (SBI) had recently announced a new Fixed Deposit (FD) Scheme for domestic and NRI customers that comes with ‘attractive interest rates’ and has a tenure of 400 days. The SBI Amrit Kalash Deposit FD scheme offers 7.10 percent interest rates, while senior citizens will get 7.60 interest on the FD. However, the SBI Amrit Kalash Deposit is valid only for a limited period. Customers availing the FD can do so till 31 March 2023.
HDFC Bank Senior citizen Care FD
The HDFC Bank Senior citizen Care FD was launched in 2020 and is valid till 31st March 2023 for the elderly citizens who can avail of attractive rate of interest on fixed deposits. HDFC Bank is offering 0.75% extra interest rate with Senior Citizen Care FD offer. This offer is for resident senior citizens aged 60 years and above, (not applicable to NRI) who wish to book a Fixed Deposit less than 5 crores for a tenure of 5 years one day to 10 years. Offer valid for all new/renewal of Senior Citizens FD < 5 Crore.
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Indian Bank IND SHAKTI 555 DAYS FD Scheme
Indian bank had launched the Special Retail Term Deposit Product “IND SHAKTI 555 DAYS” on 19 December 2022 offering higher rate of interest for investment starting from Rs 5000 to less than 2 Crore for 555 days in the form of FD/MMD with callable options. Indian Bank IND SHAKTI 555 DAYS FD Scheme Scheme is valid till 31 March 2023.
| IND SHAKTI 555 DAYS – RATE OF INTEREST | |
|---|---|
| Public | 7.00% |
| Senior Citizen | 7.15%up to 27.12.2022 |
| 7.50 %w.e.f 28.12.2022 |
IDBI Bank Naman Senior Citizen Deposit
IDBI Bank had launched a special FD scheme for the Senior Citizens to allow them earn extra interest with IDBI Bank Naman Senior Citizen Fixed Deposit. The IDBI Bank Naman Senior Citizen Deposit is a limited period offer which is valid till March 31, 2023. Senior Citizen can earn upto 0.75% additional interest rate. The Minimum Deposit Amount starts at Rs 10,000. Pre-mature withdrawals are permitted in the scheme. Interest payable on prematurely withdrawn deposits will be the rate applicable for the amount and the period for which the deposit remained with the Bank (rate applicable for that tenure on the original date of the deposit). For such premature withdrawals, including sweep-ins and partial withdrawals, the Bank will levy a penalty of 1%, on the applicable rate.
Punjab & Sind Bank Special FD Scheme
Punjab & Sind Bank is offering a host of Special FD Scheme, all of which will be expiring on March 31, 2023. These include the PSB Fabulous 300 Days, PSB Fabulous Plus 601 Days, PSB e-Advantage Fixed Deposit and PSB-Utkarsh 222 Days. PSB Fabulous 300 Days, PSB Fabulous Plus 601 Days, PSB e-Advantage Fixed Deposit and PSB-Utkarsh 222 Days
