Special FDs with higher interest rates: Check when these special fixed deposits are closing

The State Bank of India (SBI) has extended the deadline to invest in SBI WeCare special FD, which offers higher interest rates to senior citizens for maturities ranging from 5 to 10 years. SBI Wecare was established with the goal of safeguarding older adults’ incomes by providing additional interest.

According to the SBI website, “Additional premium of 50 bps (over and above existing premium of 50 bps) over card rate for Public i.e., 100 bps over card rate for Public.”

SBI Senior citizen FD rates
For SBI senior citizens, the bank offers interest rate between 4% to 7.50%. Note that highest interest rate of 7.50% on tenure of 2 years to less than 3 years.

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The bank extended Amrit Kalash deadline to September 30, 2024 from March 31, 2024. The special fixed deposit scheme for retail customers offers higher interest rates for regular and senior citizens.

As per the website, “The specific tenor scheme of “400 days” (Amrit Kalash) at Rate of Interest of 7.10 % w.e.f. 12- April- 2023. Senior Citizens are eligible for rate of interest of 7.60%. The Scheme will be valid till 30-September-2024.”

According to the SBI website, “The interest shall be 0.50% to 1% below the rate applicable at the time of Deposits for the period Deposit has remained with the Bank or 0.50% or 1% below the contracted rate, whichever is lower.”

SBI FD interest rates
State Bank of India has increased fixed deposit interest rates on certain tenures. Now interest rates ranges between 3.5% and 7% (except Amrit kalash) for general citizens for amounts below Rs 2 crore and for senior citizens, interest rates offered are between 4% and 7.50%.

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The last date to invest in HDFC Bank Senior Citizen Care FD is April 15, 2024, according to the HDFC Bank website. HDFC Bank offers higher interest rates on its special fixed deposit offered only to senior citizens known as Senior Citizen Care FD.

The bank offers 0.75%* extra interest rate with Senior Citizen Care FD offer. Note that This offer is for resident senior citizens aged 60 years and above, (not applicable to NRI) who wish to book a Fixed Deposit less than 5 crores for a tenure of 5 years one day to 10 years. Offer valid for all new/renewal of Senior Citizens FD less than 5 crore.

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There is no deadline mentioned on the website and earlier deadlines have been removed. Indian Bank offers interest rates between 2.80% to 7.25% (including special deposit rates) interest rates for general citizens.

Indian Bank offers special fixed deposits offering higher interest rates called “Ind Super 400” and “Ind Supreme 300 days”. These special FDs come with interest rates up to 8% per annum. These schemes had a deadline by which investors had to invest. Indian Bank kept extending this deadline.

Ind super 400 days
The “IND SUPER 400 DAYS” Special Retail Term Deposit Product offers a higher interest rate for investments ranging from Rs. 10,000 to less than Rs. 2 crore over a 400-day period in the form of callable options on FDs.

Ind super 300 days
With callable options, the “IND SUPREME 300 DAYS” special retail term deposit product offers an enticing interest rate for investments ranging from Rs. 5,000 to less than Rs. 2 crore over a 300-day period in the form of FD.

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