FD Interest Rates: Invest in THESE 5 Special Fixed Deposit Schemes Before 31 March

Fixed deposit schemes: Several fixed deposit schemes offering interest rates up to 8.05% are available till the end of the financial year 2024-25, i.e. 31 March. Banks have launched multiple special fixed deposit schemes against traditional FD schemes to encourage people to park their money in traditional investment options.

Fixed deposit schemes are a lucrative investment option for risk-averse investors who are looking for a long-term investment option with guaranteed returns. Many special FD schemes will no longer be available for investment after 31 March 2025. Fixed deposit schemes also provide an option for income taxpayers to get tax exemptions under Section 80C. The option is available only for those who have opted for the old tax regime. As the financial year 2025 deadline inches closer, let's take a look at special FD schemes with higher interest rates.

SBI Amrit Vrishti scheme

State Bank of India is offering interest of up to 7.25% per annum to all customers and 7.75% to senior citizen customers on fixed deposits for 444 days under its Amrit Vrishti scheme. SBI Amrit Vrishti scheme will be available for investment till 31 March 2025.

SBI Amrit Kalash scheme

State Bank of India is running a special fixed deposit scheme as Amrit Kalash till 31 March 2025. People can invest their money for 400 days to get an interest rate of up to 7.10%. Senior citizens can get an interest rate of up to 7.6% for investment under this FD scheme.

IDBI Bank-Utsav Callable FD

The Utsav Callable FD schemes, by IDBI Bank, are available for fixed deposit investment for varied tenures ranging from 300 to 700. FD interest rates can go as high as 8.01% for super senior citizen customers if they opt for a longer duration fixed deposit scheme.
People can invest in Utsav FD till March 31, 2025.

Under IDBI Bank's Utsav FD scheme for a 300-day tenure, regular customers can get 7.05% interest on their FD, whereas senior citizens and super senior citizens can get an interest rate of up to 7.55%. Utsav Callable Fixed Deposit Scheme of 444-day tenure offers interest rate of 7.35% for regular customers, 7.85% for senior citizens, and 8% for super senior citizens.

IDBI Bank's Utsav FD scheme also offers a fixed deposit investment offer for 555 day tenure as well. Under a 555-day tenure, super senior citizen customers can get an investment of up to 8.05% on fixed deposits. Senior citizens and regular customers can get FD interest rates of 7.9% and 7.4%, respectively.

Indian Bank Special FD

Under the IND Supreme 300 days and IND Super 400 Days FD scheme, by Indian Bank, customers can get an interest rate of up to 7.3%. Senior citizens and super senior citizens can get interest rates of up to 7.8% and 8.05%, respectively.

Apart from the four mentioned fixed deposit schemes, there is a special option for female investors looking to invest their money for stable and assured returns. Government-backed Mahila Samman Savings Certificates offer an attractive 7.5% interest rate to female investors for a fixed deposit of two years' tenure.