These special bank FDs with higher interest rates have been extended: Check last date, rates, other details The banks offering exceptional deposits and extended dates are listed below briefly
Banks are offering special fixed deposits along with regular deposits. These special deposits are offered for a short duration with higher interest rates to attract customers. Some banks have stopped offering special deposits and some banks have extended the date. Here is a quick list of banks offering special deposits along with extended dates.Since last year many banks have revised bank FDs in tandem with the Reserve Bank of India’s repo rate.
SBI Amrit kalash
The State Bank of India has reintroduced the "AMRIT KALASH" retail term deposit. It is a unique 400-day tenor scheme. This retail term deposit programme was previously introduced by the bank with a set expiration date of February 15, 2023, through March 31, 2023. The reintroduced scheme is valid from April 12, 2023 to June 30, 2023. The interest rate on this term is 7.10% for regular people and 7.60% for elderly citizens. The deposit is valid for 400 days.
SBI Sarvottam (Non-Callable) domestic retail term deposits
A special scheme for deposits beyond Rs 15 lakh is offered by SBI under the name "Sarvottam" (Non-Callable) term deposits for residents and non-residents. The SBI website states that this deposit plan offers a higher rate of interest with no early withdrawal option. This plan offers 1 year and 2 year fixed-rate deposits to investors at interest rates that are 30 basis points and 40 basis points higher than the card rate.
IDBI Bank Amrit Mahotsav FD scheme
Under the Amrit Mahotsav FD scheme of 444 Days, the bank offers an interest rate of 7.15% to general, NRE and NRO. For senior citizens, the bank offers 7.65%.
Indian Bank Special FD
Indian Bank has extended the special fixed deposit dubbed “IND SUPER 400 DAYS” and has increased its interest rates by 10 basis points. The revised rates are effective from April 20, 2023, as per the bank’s website.
Indian Bank introduced the "IND SUPER 400 DAYS" retail term deposit product in March 2023, with an April 19 deadline. It has now been extended until June 30, 2023. The minimum investment is Rs.10,000 and the maximum investment is Rs.2 crore for 400 days in the form of an FD/MMD with callable options.
Punjab & Sindh Bank special FD
Punjab & Sindh Bank has closed previous special deposits such as PSB Fabulous 300 Days, PSB Fabulous Plus 601, PSB UTKARSH 222 DAYS, PSB e-Advantage Fixed Deposit.
Now, it has introduced new deposits dubbed as Special Rate for Special Days (SRSD-1051), PSB Grih Lakshmi Fixed Deposit Scheme.
PSB Grih Lakshmi Fixed Deposit Scheme
This account can be opened in the name of any female resident, including minors. The initial account holder in a joint account must be a woman. The deposit has a duration of 551 days with an additional 25 basis points as applicable for term deposit schemes for the stipulated time. This deposit will be valid until June 30, 2023. The account requires a minimum deposit of Rs 5000/- in multiples of Rs 1000/-.
Special rate for special days (SRSD-1051)
The deposit has a duration of 1051 days and an additional 25 basis points for the term deposit plan for the stated time. This deposit will be valid until June 30, 2023. The minimum deposit amount is Rs 25000 and must be in multiples of Rs 5000. If the maturity amount reaches Rs 2.00 crore or more at any time, it would be treated as a bulk deposit, and the rate of interest benefit will be different.
Special senior citizen FDs
SBI has extended its senior citizen special fixed deposit SBI WeCare offering higher interest rate of 7.50% with no extended date. ICICI bank has also extended the Golden Years FD Interest Rates, with no end date.
HDFC Bank has stopped offering Senior Citizen Care FD from March 31, 2023 and even IDBI Bank has not continued its senior citizen FD.
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This story originally appeared on: India Times - Author:Faqs of Insurances
