Fixed Deposit (FD) schemes have long been a preferred investment option for risk-averse investors. State Bank of India (SBI) and IDBI Bank are offering special FD schemes with high-interest rates, but these lucrative offers are available only until March 31, 2025. If you are looking for secure investment opportunities with guaranteed returns, now is the time to act!
Special FD Schemes
| Feature | SBI Amrit Kalash FD | SBI Amrit Vrishti FD | IDBI Utsav Callable FD |
|---|---|---|---|
| Tenure | 400 days | 444 days | 300 – 555 days |
| Interest Rate (General Public) | 7.10% | 7.25% | 7.05% – 7.40% |
| Interest Rate (Senior Citizens) | 7.60% | 7.75% | 7.55% – 7.90% |
| Last Date to Invest | March 31, 2025 | March 31, 2025 | March 31, 2025 |
The special FD schemes from SBI and IDBI offer one of the highest interest rates in the market, making them an excellent choice for those looking for safe and stable returns. Since these schemes are available only until March 31, 2025, investors should act quickly to maximize their earnings.
Why Consider These Special Fixed Deposit Schemes?
1. Higher Interest Rates Than Regular FDs
The rates on these special FD schemes are significantly higher than standard fixed deposits, making them attractive for both short-term investors and long-term wealth builders.
2. Low-Risk and Guaranteed Returns
Unlike stock market investments, FDs provide fixed interest rates, ensuring capital safety and steady growth.
3. Ideal for Senior Citizens
Senior citizens enjoy an additional 0.50% interest rate, making these schemes particularly lucrative for retirees looking for safe income sources.
see also: SBI vs PNB Which Bank Offers the Best 400-Day FD Returns?
Detailed Breakdown of SBI and IDBI Special FDs
State Bank of India (SBI) Special Fixed Deposits
1. SBI Amrit Kalash FD
- Tenure: 400 days
- Interest Rate (General Public): 7.10% p.a.
- Interest Rate (Senior Citizens): 7.60% p.a.
- Premature Withdrawal: Allowed with penalty
2. SBI Amrit Vrishti FD
- Tenure: 444 days
- Interest Rate (General Public): 7.25% p.a.
- Interest Rate (Senior Citizens): 7.75% p.a.
- Premature Withdrawal: Allowed with penalty
IDBI Utsav Callable FD
1. 300-Day FD
- Interest Rate (General Public): 7.05%
- Interest Rate (Senior Citizens): 7.55%
2. 375-Day FD
- Interest Rate (General Public): 7.25%
- Interest Rate (Senior Citizens): 7.75%
3. 444-Day FD
- Interest Rate (General Public): 7.35%
- Interest Rate (Senior Citizens): 7.85%
4. 555-Day FD
- Interest Rate (General Public): 7.40%
- Interest Rate (Senior Citizens): 7.90%
How to Invest in These Special FD Schemes?
Step 1: Choose the Right Bank and Scheme
Decide between SBI and IDBI based on the tenure and interest rate that suits your financial goals.
Step 2: Open an FD Account
You can open an FD account through:
- Online Banking via SBI or IDBI
- Mobile Banking Apps
- Visiting the Nearest Branch
Step 3: Fund Your FD
Deposit your amount via net banking, mobile banking, cheque, or direct transfer.
Step 4: Receive FD Receipt and Confirmation
After the deposit, you will receive a confirmation email/SMS along with an FD receipt.
Who Should Invest in These Special FDs?
Retirees and Senior Citizens – Higher interest rates ensure better returns on savings. Risk-Averse Investors – Guaranteed returns with zero risk. Individuals with Short-Term Goals – Ideal for parking funds safely. First-Time Investors – Best starting point for low-risk investments.
see also: FD vs SIP Which One Is More Sensible to Invest In?
FAQs
1. What happens if I withdraw the FD before maturity?
Both SBI and IDBI allow premature withdrawals with a penalty (usually 0.50% to 1.00% lower interest rate than agreed).
2. Can I renew the FD after maturity?
Yes, both banks allow automatic renewal. However, the interest rate at renewal will be based on the prevailing FD rates.
3. What are the tax implications of FD interest?
- TDS (Tax Deducted at Source) is applicable if the total interest exceeds ₹40,000 (₹50,000 for senior citizens) per year.
- You can submit Form 15G/15H to avoid TDS deductions if your income is below the taxable limit.
4. Can I take a loan against my FD?
Yes, you can avail of a loan up to 90% of your FD amount at a lower interest rate.
5. How safe are these fixed deposits?
Both SBI and IDBI are government-backed banks, making them highly secure investment options.
