March 31: Your last chance to invest in Special FDs

While a bearish stock market often entices many investors, the uncertainty in geopolitics prompts those with a lower risk appetite to seek safer options for their savings.

With an increasing number of individuals turning to the stock market and mutual funds for investment, banks are offering limited-time Special Fixed Deposit (FD) schemes with higher returns.

FDs are considered one of the safest investment options, where you deposit a lump sum of money with a bank for a fixed period at a predetermined interest rate, guaranteed upon maturity. Special FDs, while functioning similarly to regular FDs, offer more competitive interest rates.

However, this may be your last opportunity to invest in Special FDs and take advantage of higher returns, as these schemes are likely to be discontinued or have their interest rates reduced after March 31, 2025.

According to a report by Business Today, experts have advised investors to place their savings in FDs, if they wish to, before the end of the financial year. This recommendation comes as the Reserve Bank of India (RBI) is expected to announce another rate cut in mid-2025, depending on inflation data, the US Federal Reserve’s rate decision, and various global factors.

Here’s a guide to which banks are offering special FDs and their respective interest rates:

SBI Amrit Vrishti
This 444-day FD is available to both Indian and NRI customers. It offers an interest rate of 7.25% for general citizens and 7.75% for senior citizens. Launched in July 2024, the last date to invest in this scheme is March 31, 2025.

SBI Amrit Kalash
This 400-day FD offers an interest rate of 7.10% for general citizens and 7.60% for senior citizens. Introduced in February 2023, the scheme was initially open until September 30, 2024, but SBI has extended the deadline to March 31, 2025.

HDFC Bank Special FD
HDFC Bank’s special fixed deposit offers higher returns but is available for a limited term of 35 months. General citizens can earn 7.35% interest, while senior citizens receive 7.85%.

Indian Bank’s IND Supreme FD
This 300-day special FD offers 7.05% interest for general citizens, 7.55% for senior citizens, and 7.80% for super senior citizens (aged 80 and above).

Indian Bank’s IND Super FD
A 400-day FD, the IND Super FD is particularly attractive for super senior citizens (aged 80 and above). It offers 7.30% interest for general citizens, 7.80% for senior citizens, and 8.05% for super senior citizens. The last date to invest is March 31, 2025.