FD Scheme: Several banks are set to discontinue their special Fixed Deposit (FD) schemes. Currently, some FD options offer an interest rate of 8.05%, but this rate is not guaranteed for an extended period. Therefore, if you are considering investing in an FD, it is advisable to take advantage of these schemes while the interest rates are favorable. Let us explore some of these schemes and their respective deadlines.

IDBI Bank’s Utsav Callable FD

IDBI Bank’s Utsav Callable FD Scheme provides an attractive interest rate, but the investment window closes on March 31. To benefit from this scheme, you must invest before this date. The interest rates vary for regular and senior citizens based on different tenures.

For instance, for a tenure of 300 days, a regular citizen can earn an interest rate of 7.05%, while senior citizens receive 7.55%. For a tenure of 375 days, both regular and senior citizens earn an interest rate of 7.25%. Additionally, super senior citizens can enjoy an interest rate of up to 8%. Specifically, if a super senior citizen invests for 555 days, they can secure an interest rate of 8.05%.

SBI Amrit Kalash FD scheme

The deadline for investing in SBI’s Amrit Kalash FD scheme is also March 31. SBI offers another option, the Amrit Vrishti FD scheme. Under the Amrit Vrishti scheme, for a tenure of 444 days, regular citizens receive an interest rate of 7.25%, while senior citizens benefit from a rate of 7.75%. In contrast, the Amrit Kalash FD scheme offers regular citizens an interest rate of 7.10% for a tenure of 400 days, with senior citizens receiving 7.60%.

You can submit your application for this SBI scheme through both online and offline methods. For offline applications, a visit to the bank branch is required. Additionally, investments can be made online via net banking or the SBI YONO app. In addition to the Amrit Kalash Fixed Deposit, the ‘Amrit Vrishti’ Fixed Deposit is another excellent investment option, offering an annual interest rate of 7.25 percent. Senior citizens benefit from a higher interest rate of 7.75 percent. Investments in this scheme can be made until March 31, 2025. Furthermore, SBI’s ‘WeCare’ is a specialized term deposit scheme that provides an extra interest of 50 basis points for fixed deposits exceeding five years.