Fixed Deposit: Both IDBI and SBI banks have launched a special fixed deposit scheme for 444 days. This can be a better option for those who want fixed and safe returns. IDBI’s scheme has been named ‘Utsav FD’ and SBI’s scheme has been named ‘Amrit Vrishti FD’
Fixed Deposit: Both IDBI and SBI banks have launched a special fixed deposit scheme for 444 days. This can be a better option for those who want fixed and safe returns. IDBI’s scheme has been named ‘Utsav FD’ and SBI’s scheme has been named ‘Amrit Vrishti FD’. Let’s know what is the difference between the two and in which one investing can be a profitable deal.
IDBI Utsav FD
This FD scheme of IDBI Bank is for 444 days. In this, general investors are being given 6.85 percent and senior citizens are being given 7.35 percent annual interest. This scheme is open till 30 September 2025, that is, investors still have a lot of time.
If a common man invests Rs 5 lakh in this scheme, then after 444 days he will get a total of Rs 5 lakh 41 thousand 685. That is, there will be a benefit of Rs 41 thousand 685 in the form of interest.
At the same time, if a senior citizen invests Rs 5 lakh, then he will get an interest of Rs 44 thousand 720.
SBI Amrit Vrishti FD
This FD scheme of SBI is of 443 days. In this, general investors are getting 6.60 percent interest and senior citizens are getting 7.10 percent interest.
If a general investor invests Rs 5 lakh, then on maturity he gets Rs 5 lakh 40 thousand 145. That is, there is a benefit of Rs 40 thousand 145 in the form of interest.
Senior citizens will get an interest of Rs 43,230 on investing Rs 5 lakh in this scheme.
Which scheme is more beneficial?
The difference between the two schemes is not much, but the interest rate in IDBI’s Utsav FD is slightly higher. Especially senior citizens can get Rs 1000 to Rs 1500 more interest in this as compared to SBI. If you are looking for fixed returns and slightly higher profit, then this scheme of IDBI can be a better option for you. Although both the banks are trustworthy, but this time the scale seems to be slightly heavier on the side of IDBI.
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