Fixed deposits (FDs) remain one of the safest and most reliable investment options, especially for conservative investors seeking stable returns. Several banks are offering special FD schemes with high interest rates and tax-saving benefits, but the deadline to invest is March 31, 2025.
Special Fixed Deposit (FD) Schemes
| Feature | Details |
|---|---|
| Deadline | March 31, 2025 |
| Best Interest Rate | Up to 8.05% (for senior citizens) |
| Best Special FDs | SBI Amrit Kalash, IDBI Utsav Callable FD, Indian Bank IND Supreme |
| Tax-Saving Option | 5-Year Tax-Saving FD under Section 80C |
| Eligibility | General & Senior Citizens |
Special FD schemes provide a great opportunity to earn higher interest rates, especially for senior citizens and risk-averse investors. If you have idle funds, consider locking them in before March 31, 2025, to take advantage of these limited-period offers.
For tax benefits, opt for 5-year Tax-Saving FDs under Section 80C to reduce your taxable income. However, if you seek higher returns, you may explore alternative tax-saving options like PPF, NPS, and ELSS mutual funds.
What Are Special FD Schemes?
Special FD schemes are limited-period deposit plans offered by banks, typically featuring higher interest rates than regular FDs. These schemes are often introduced during financial year-end periods to attract investors looking to park surplus funds before tax filing deadlines.
Example: If you invest ₹5 lakh in an SBI Amrit Kalash FD offering 7.10% interest, you’ll earn around ₹37,000 in interest within 400 days.
see also: SBI Har Ghar Lakhpati Scheme Build a Big Fund with Small Savings
Best Special FD Schemes Available Until March 31, 2025
1. SBI Amrit Kalash FD
- Tenure: 400 days
- Interest Rate: 7.10% (General), 7.60% (Senior Citizens)
- Minimum Investment: ₹1,000
- Taxation: Regular FD tax rules apply
2. IDBI Utsav Callable FD
- Tenure Options: 300, 375, 444, 555, and 700 days
- Interest Rate: Up to 7.40% (General), 7.90% (Senior Citizens), 8.05% (Super Senior Citizens)
- Minimum Investment: ₹10,000
- Withdrawals: Allowed (Callable)
3. Indian Bank IND Supreme 300 FD
- Tenure: 300 days
- Interest Rate: 7.05% (General), 7.55% (Senior Citizens), 7.80% (Super Senior Citizens)
- Taxation: Regular tax rules apply
- Benefits: Competitive rates for short-term deposits
How to Invest in These Special FD Schemes
Investing in special FD schemes is easy. Follow these steps:
Step 1: Compare Interest Rates & Features
Use an online FD calculator to estimate returns before choosing a scheme.
Step 2: Choose a Bank & Open an FD Account
Visit the official bank website or the nearest branch. Some banks also allow opening FDs via mobile banking apps.
Step 3: Select Investment Amount & Tenure
Decide how much you want to invest and for how long based on your financial goals.
Step 4: Complete KYC & Fund Your FD
Post Office FD: 25 हजार रुपये निवेश करने पर 1 साल से 5 साल तक में कितना मिलेगा रिटर्न, यहाँ देखें पूरी डिटेल
You need to submit PAN, Aadhaar, and bank details to open an FD account. Once done, deposit the amount.
Step 5: Get FD Receipt & Start Earning Interest
Upon completion, the bank issues an FD receipt with details of your investment and maturity date.
Tax Benefits of Fixed Deposits
If you’re looking to save on taxes, opt for a 5-Year Tax-Saving FD, which qualifies under Section 80C of the Income Tax Act.
- Investment Limit: Up to ₹1.5 lakh per year
- Lock-in Period: 5 years (no premature withdrawal)
- Tax Deduction: Can claim up to ₹1.5 lakh deduction
- Interest Taxability: Interest earned is taxable
Example Calculation:
If you invest ₹1.5 lakh in an HDFC Bank Tax-Saving FD at 6.50%, you’ll earn around ₹52,000 in 5 years.
see also: RBI Cash Deposit Rules 2025 What You Need to Know About Large Deposits
Special Fixed Deposit FD Schemes FAQs
1. What is the last date to invest in special FD schemes?
The deadline for these limited-period FD schemes is March 31, 2025.
2. Are these FDs risk-free?
Yes, FDs are one of the safest investment options as they are insured up to ₹5 lakh by DICGC (Deposit Insurance and Credit Guarantee Corporation).
3. Can NRIs invest in these special FD schemes?
Yes, some banks offer NRE and NRO FDs for NRIs, but tax-saving benefits differ.
4. What happens if I withdraw before maturity?
Most banks allow premature withdrawal with a penalty of 0.5% to 1% lower interest rate.
5. Should I invest in a tax-saving FD or ELSS mutual fund for tax benefits?
- FDs offer guaranteed returns but lower growth.
- ELSS mutual funds offer higher returns (12-15%) but have market risk.
