Special FD Rates: Forget SBI, Bank Of India; This PSU Offers Big Returns On 300-Days, 400-Days, 555-Days

Special FD Rates: Investors are looking for stable and risk-free investment options amid the market volatility. Fixed deposit schemes, also known as term deposits, offer a favourable option to cautious investors as they offer guaranteed returns on a fixed tenure.

Several public sector undertaking banks are offering fixed deposit schemes at lucrative rates for investors. While certain special schemes were discontinued at the beginning of the new financial year, some are still available, offering higher interest rates. A PSU bank, headquartered in Chennai, is offering higher interest rates to customers, better than State Bank of India, Central Bank of India, Bank of India, etc.

Special FD Scheme: Which PSU Bank Offers Best FD Scheme?

Indian Bank is offering higher interest rates, up to 8%, to customers und is special FD scheme, known as IND Super 400 Days. The popular scheme is still available for customers for a tenure of 400 days, ie 13 months and four days. The special FD scheme offers a maximum interest rate of 8.05% to super senior citizens.

About IND Super 400 Days

The special fixed deposit scheme by Indian Bank is available for 400 days for amounts bigger than Rs 10,000 and less than Rs 3 crore. The general public can get an interest rate of 7.3% on special FD investments for 400 days. The interest rate is higher to 7.8% for senior citizens under the scheme, whereas it is 8.05% for super senior citizens.

IND Super 300 Days

Investors who want to avail higher interest rates for a shorter duration can consider IND Super 300 days. They can make investments for amounts starting from Rs 5,000 and less than Rs 3 crore for 300 days. Under this FD scheme, general customers can get an interest 7.05%, senior citizens can get an interest rate of 7.55%, and super senior citizens can get an interest rate of 7.8%.

IND Super Green FD

The special FD scheme offers higher interest rates and also encourages the spirit of sustainable development among investors. Its investment amount starts from Rs 1,000, and it should be less than Rs 3 crore. It offers an interest rate of 6.8% to general public and 7.3% of interest rate to senior citizens and 7.55% of interest rate to super senior citizens.

What is a Special FD Scheme?

A special fixed deposit scheme is a type of investment instrument that banks offer with better benefits to customers. Special FD schemes offer higher interest rates than regular FDs. Generally, special FD schemes are available for a limited period or target specific investor groups like senior citizens or super senior citizens. These schemes are created in a bid to encourage more number of people to invest in low risk investment instruments like fixed deposits.

Special FD schemes: What are their key benefits?

Key benefits of Special FD schemes include assured returns, stability and safety from stock market volatility. Additionally, it offers higher interest rates to senior citizens compared to other FD schemes. It also offer flexibility in terms of duration of investment. Fixed deposit scheme are available in different categories like special FDs, tax saving FDs, etc.