SBI FD Scheme : Every individual dreams of investing in a good scheme and earning handsome profits. To fulfill this, both government and private banks offer several investment options that provide attractive returns. But when it comes to fixed returns and safe investment, most people prefer Fixed Deposits (FDs). This is because FDs provide guaranteed returns and there is no risk of losing money.
For senior citizens, FDs are one of the most popular investment choices, as banks generally offer them higher interest rates compared to regular customers. If you are planning to invest in an FD, the country’s largest public sector bank SBI is offering attractive interest rates on its 444-day FD scheme. Apart from SBI, IDBI Bank also has some special FD schemes worth considering. Note that these schemes are available for investment until 31 March 2025.
SBI Amrit Kalash FD Scheme (400 Days)
SBI is running a special scheme called the Amrit Kalash FD Scheme, which comes with a tenure of 400 days.
- Regular customers are offered an interest rate of 7.10%.
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Senior citizens get an additional 0.50% benefit, which means they can earn 7.60% interest.
If you are looking for a short-term investment option with good profits, this scheme can be an excellent choice.
SBI 444-Day FD Scheme
Another special scheme offered by SBI is for 444 days.
- Regular customers earn 7.25% interest.
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Senior citizens earn 7.75% interest.
For example, if a senior citizen invests ₹10 lakh in this FD, then after 444 days, the maturity amount will be approximately ₹10,77,500. This means a profit of ₹77,500 in just 444 days.
IDBI Bank Utsav Callable FD (555 Days)
Similar to SBI, IDBI Bank is also offering a special FD scheme called the Utsav Callable FD. The tenure for this FD is 555 days.
- Regular customers get an interest rate of 7.40%.
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Senior citizens are offered 7.90% interest.
For instance, if a senior citizen invests ₹10 lakh in this scheme, they will receive a maturity amount of approximately ₹10,90,333 after 555 days. This means a total profit of ₹90,333.
Benefits of Investing in FD
Investing in Fixed Deposits (FDs) comes with multiple advantages:
- Safe & Secure Investment: Unlike other market-linked instruments, FDs are not affected by market volatility.
- Guaranteed Returns : Investors receive assured returns at fixed interest rates.
- Protection under DICGC : Even if a bank defaults, your FD is insured up to a certain limit under the Deposit Insurance and Credit Guarantee Corporation (DICGC).
- Special Rates for Senior Citizens : Almost all banks provide higher interest rates to senior citizens compared to regular investors.
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Flexible Tenure : Investors can choose FD tenure as per their financial goals.
In conclusion, SBI’s 400-day and 444-day FD schemes and IDBI Bank’s 555-day Utsav Callable FD are among the best short-term and medium-term investment options available until 31 March 2025. Especially for senior citizens, these schemes provide excellent returns with complete safety.
