Fixed Deposit: Special Fixed Deposit is going to end on March 31, know the last chance to invest

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Special Fixed Deposits were introduced by major banks in India to offer higher interest rates to senior citizens and general citizens as compared to Special Fixed Deposits. However, with banks increasing interest rates on special fixed deposits for senior citizens, these special fixed deposits are being discontinued. After March 31, 2023, these will not be special FDs.

For individuals looking to invest in fixed deposits for higher interest rates, here is a list of interest rates offered by some banks through their special fixed deposits.

State Bank of India (SBI) offers two special FDs that expire after March 31, 2023. Vcare FD offers additional interest ranging from 30 basis points (bps) to 50 bps with interest rates of 7.50 per cent. Meanwhile, senior citizens can avail an interest rate of 7.60 per cent on the Amit Kailash Special FD for 400 days.

HDFC Bank offers a special FD for senior citizens which was launched in May 2020, which offers an additional interest rate of 0.25 per cent. The tenure of FD is 10 years with an interest rate of 7.75 percent.

IDBI Bank offers Special FDs with tenures of 400 days and 700 days. General public investors can avail an additional interest rate of 0.25 percent, while senior citizens can earn an additional 0.50 percent interest rate on this FD with an interest rate of 7.50 percent for senior citizens. In addition, an interest rate of 7 percent is available on FD of 10 years term.

Indian Bank offers a special FD with a tenure of 555 days, offering an interest rate of 7 percent to general public and 7.50 percent to senior citizens. Rs 5,000 to Rs 2 crore can be invested in this FD.

Punjab and Sind Bank offers three types of special FDs, with the first offering an interest rate of 8.85 percent on 222-day FDs, the second offering up to 7.85 percent interest rates on 601-day FDs and the third offering 300-day term FDs. She goes.

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