Special FD Schemes: RBI has cut the repo rate twice this year, which has also affected the FD rates of banks. However, despite this, some banks are still offering special FD schemes to attract investors, which are getting more interest than normal FD.
Special FD Schemes: Many big PSU banks have cut the interest rates of their fixed deposit (FD) scheme in the recent month. RBI has cut the repo rate twice this year, which has also affected the FD rates of banks. However, despite this, some banks are still offering special FD schemes to attract investors, which are getting more interest than normal FD, let’s know…
What is Special FD?
Special FD is a fixed deposit scheme launched for a limited time, whose duration is also very special, like 444 days, 400 days or 300 days. Usually these schemes offer higher interest rates than the regular FD scheme of banks.
SBI’s Amrit Vrishti Yojana
Under the Amrit Vrishti Yojana of State Bank of India (SBI), special FDs of 444 days duration are being offered at an interest rate of 6.85% to general citizens, 7.35% to senior citizens, 7.45% to super senior citizens (80 years or above). This interest rate is effective from May 16, 2025.
Canara Bank 444 days FD
Canara Bank is offering an interest rate of 7.25% to general citizens, 7.75% to senior citizens on 444-day FDs for an amount less than Rs 3 crore. These rates will be applicable from April 10, 2025.
Bank of Baroda Square Drive Deposit Scheme
Bank of Baroda’s Square Drive Deposit Scheme is offering an interest rate of 7.10% per annum to general citizens, 7.60% to senior citizens, 7.70% to super senior citizens for 444 days. These revised rates will be applicable from May 5, 2025.
Indian Bank’s IND SECURE Scheme
Indian Bank’s IND Secure Special FD Scheme is offering an interest rate of 7.15% per annum to general citizens, 7.65% to senior citizens, 7.90% to super senior citizens for 444 days. This scheme is open for investment till 30 September 2025.
Most Read Articles:
- 7th Pay Commission: Good news! Selected government employees will get more pension under this policy, check details
- PPF Investment: You will get a pension of Rs 60,000 for life by investing just Rs12500 per month, check details
- Credit Card Link UPI: Link your credit card to UPI from home, know step-by-step guide
