The deadline for Special Fixed Deposit (FD) Schemes of several banks –State Bank Of India, IDBI and Indian Bank, Punjab and Sindh Bank will come to an end on September 30. Interested senior citizen investors can put their money in the schemes to earn a higher interest rate on FD policies. 

Banks had earlier introduced the scheme for a select period to provide senior citizens and regular customers with a chance to get better returns on their investments. However, Banks later revised the deadlines a few times, considering demand from public. 

IDBI Utsav Callable FD (Revised Rates w.e.f. August, 15, 2024)

Validity is up to September 30, 2024. The interest rate structure is as follows:

Indian Bank Special FD

The Deadline for Indian Bank Special Ind Super 300 Days Fixed Deposit scheme is 30 September 2024. The details of the special FD scheme, interest rates are as follows:

Punjab and Sind Bank Special FD

Punjab and Sind Bank’s special Fixed Deposit deadline ends on 30 September, 2024. Under the special FD customers get interest rates of up to 7.15% for 333 days.

SBI AMRIT KALASH FD

SBI’s Retail Term Deposit ‘AMRIT KALASH’ scheme of 400 days tenor offers @7.10% p.a interest. SBI AMRIT KALASH FD is available up to 30 September 2024. Eligible Deposits are Domestic Retail Term Deposits including NRI Rupee Term Deposits (< Rs 2 crore); ii) New and Renewal Deposits and iii) Term Deposit and Special Term Deposit only. Interest rate is 7.10%. Senior Citizens, Staff and Staff Pensioners are eligible for additional interest rate applicable to them.

SBI Deposit Scheme “SBI WECARE’

SBI’s Deposit Scheme “SBI WECARE’ is valid till 30 September 2024. The Scheme is available on fresh deposit and renewal of maturing deposits. SBI Wecare Senior Citizen FD Scheme will fetch interest rate of 7.50 percent. Senior Citizen will get additional premium of 30 bps (over and above existing premium of 50 bps) over card rate for Public i.e. 80 bps over card rate for Public.