BackLast chance to avail THESE 5 special fixed deposit schemes ending today
Customers who wish to invest in these schemes must do so by the end of 31 March 2023, as the schemes will no longer be available after this date.
PremiumAs interest rates continue to rise, several banks in India are offering special Fixed Deposits (FDs) with irregular tenors in days, rather than in traditional periods of months or years. These FDs offer customers the chance to earn higher interest rates than those available with regular FDs.
Today marks the end of several special Fixed Deposit (FD) schemes offered by major banks in India, such as SBI, HDFC Bank, Indian Bank, IDBI Bank, and Punjab & Sind Bank.
Customers who wish to invest in these schemes must do so by the end of 31 March 2023, as the schemes will no longer be available after this date. Here are five special FD schemes that are set to expire today, 31 March 2023.
State Bank of India (SBI) special FDs
SBI, the largest bank in India, has launched a new Fixed Deposit (FD) scheme called the SBI Amrit Kalash Deposit for both domestic and NRI customers. The scheme has a tenure of 400 days and offers attractive interest rates of 7.10% for regular customers and 7.60% for senior citizens. However, the scheme is valid only for a limited period, and customers can avail the FD only till 31 March 2023.
HDFC Bank special FDs
HDFC Bank's Senior Citizen Care FD, launched in 2020, is set to expire on 31 March 2023. The scheme is aimed at elderly citizens, who can avail of attractive interest rates on fixed deposits. HDFC Bank is offering an extra interest rate of 0.75% with the Senior Citizen Care FD offer, exclusively for resident senior citizens aged 60 years and above (not applicable to NRI customers). The offer is valid for customers who wish to book a Fixed Deposit of less than 5 crores for a tenure of 5 years one day to 10 years. It applies to all new/renewal Senior Citizens FD < 5 Crore.
IDBI Bank
IDBI Bank has introduced a special Fixed Deposit (FD) scheme called the "IDBI Bank Naman Senior Citizen Fixed Deposit," aimed at senior citizens who wish to earn extra interest on their investments. The scheme is a limited-period offer, valid only until 31 March 2023, and offers senior citizens the opportunity to earn up to 0.75% additional interest rate. The minimum deposit amount for the scheme is ₹10,000, making it accessible to a wide range of customers.
Indian Bank
Indian Bank had introduced a Special Retail Term Deposit Product called "IND SHAKTI 555 DAYS" on 19 December 2022. The scheme offered a higher rate of interest for investments ranging from ₹5000 to less than 2 Crore for 555 days, in the form of FD/MMD with callable options. However, the scheme is only valid till 31 March 2023, after which it will no longer be available. Therefore, customers who wish to avail of the benefits of the IND SHAKTI 555 DAYS FD scheme must do so before the deadline.
Punjab & Sind Bank
Punjab & Sind Bank is currently offering several Special FD Schemes, all of which are set to expire on 31 March 2023. These schemes include the PSB Fabulous 300 Days, PSB Fabulous Plus 601 Days, PSB e-Advantage Fixed Deposit, and PSB-Utkarsh 222 Days. Customers who wish to invest in any of these schemes must do so before the deadline, as they will no longer be available after 31 March 2023.
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