Many banks have launched special fixed deposits (FDs) with higher interest rates but for a limited time with deadlines. Some other banks have also introduced new tenures with higher interest rates.Banks including SBI, IDBI Bank, Indian Bank have special fixed deposit with deadlines. Banks such as Bank of India, Canara bank and HDFC Bank has introduced new tenures with higher interest rates.Bank of India
The bank has introduced a new fixed deposit tenure of 400 days (Monsoon Deposit) with the highest interest rate, according to the Bank of India website. Following the revision, the bank offers a rate of interest in the range of 3 per cent to 7.25 per cent to general customers for deposits maturing between 7 days and 10 years. The bank has introduced new tenure of 400 days, which offers highest interest rate of 7.25%.
MIN. TENOR IS 1 YEAR AND MAX. 10 YEARS) | REVISED W.E.F 28.07.2023 |
7 days to 14 days | 3 |
15 days to 30 days | 3 |
31 days to 45 days | 3 |
46 days to 90 days | 4.5 |
91 days to 179 days | 4.5 |
180 days to 269 days | 5 |
270 days to less than 1 year | 5.5 |
1 Year | 6 |
Above 1 Year to 399 Days | 6 |
400 days (Monsoon Deposit) | 7.25 |
401 days to less than 2 Years | 6 |
2 Years to less than 3 Years | 6.75 |
3 Years to less than 5 Years | 6.50# |
5 Years to less than 8 Years | 6.00# |
8 years & above to 10 Years | 6.00# |
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HDFC Bank
The bank launched two special edition fixed-rate deposits (FDs) with terms of 35 and 55 months and interest rates of 7.20 percent and 7.25 percent, respectively for general citizens. For senior citizens, the bank offers 7.60 and 7.75 percent.According to the HDFC Bank website, “Enjoy HIGHER FD Rates @7.20% on tenure 35 months and @7.25% on tenure 55 months. What’s more? Senior Citizen benefits 0.50% EXTRA!…So Hurry! Valid for Limited Period only!”
Tenure | Interest Rate | Senior Citizen Rates |
7 – 14 days | 3.00% | 3.50% |
15 – 29 days | 3.00% | 3.50% |
30 – 45 days | 3.50% | 4.00% |
46 – 60 days | 4.50% | 5.00% |
61 – 89 days | 4.50% | 5.00% |
90 days = 6 months | 4.50% | 5.00% |
6 months 1 days = 9 months | 5.75% | 6.25% |
9 months 1 day to 1 year | 6.00% | 6.50% |
1 year to 15 months | 6.60% | 7.10% |
15 months to 18 months | 7.10% | 7.60% |
18 months to 21 months | 7.00% | 7.50% |
21 months – 2 years | 7.00% | 7.50% |
2 Years 1 day to 2 Year 11 Months | 7.00% | 7.50% |
2 Years 11 Months – 35 Months | 7.20% | 7.70% |
2 Years 11 Months 1 day = 3 Year | 7.00% | 7.50% |
3 Years 1 day to 4 Years 7 Months | 7.00% | 7.50% |
4 Year 7 Months – 55 months | 7.25% | 7.75% |
4 Year 7 Months 1 day = 5 Years | 7.00% | 7.50% |
5 Years 1 day – 10 Years | 7.00% | 7.75%* |
Special FDs with deadline
SBI special FD Amrit Kalash will end on August 15, 2023. IDBI Bank special fd dubbed as Amrit Mahotsav FD with 444 days tenure and 375 days tenure will also end on August 15, 2023. Indian Bank special FD termed as IND SUPER 400 DAYS, IND SUPREME 300 DAYS will end on August 31, 2023. Punjab and Sindh offer higher interest rate on 400 days and 601 days tenure, and last date to invest is September 30, 2023. Source Link