If you're considering a Fixed Deposit (FD) investment, now's the time to seize an excellent opportunity. The special FD schemes offered by two major public sector banks in India, Indian Bank and IDBI Bank, will close for new investments on October 31. These special FDs offer more attractive interest rates compared to regular tenures. Let's delve into the details of these FD schemes.
IDBI Bank Special FD Scheme
IDBI Bank is offering two unique FD schemes with tenures of 375 and 444 days, available for investment until October 31, 2023. The 375-day FD, known as the "Amrit Mahotsav FD Scheme," offers a 7.10 percent interest rate for the general public and 7.60 percent for senior citizens. In the case of the 444-day FD scheme, the general public can avail of a 7.15 percent interest rate, while senior citizens are offered a 7.65 percent interest rate.
Indian Bank's Special FD Scheme
Ind Super 400 Days FD Scheme
Indian Bank's special FD scheme, known as the "Ind Super 400 Days FD Scheme," boasts a 400-day tenure. You can invest in this scheme with amounts ranging from Rs 10,000 to Rs 2 crore. During this period, the bank is offering a 7.25 percent interest rate to the general public and a higher rate of 7.75 percent to senior citizens. Super senior citizens enjoy the highest interest rate at 8.00 percent on their deposit.
Ind Super 300 Days FD Scheme
In addition to the 400-day FD, Indian Bank has introduced a special FD scheme with a 300-day tenure, effective from July 1. Investors can deposit amounts ranging from Rs 5,000 to Rs 2 crore. This FD scheme offers general customers an attractive 7.05 percent interest rate, while senior citizens receive 7.55 percent. Super senior citizens can reap a substantial 7.80 percent interest rate. The scheme remains open for investment until October 31, 2023.
