Fixed Deposits (FDs) are still one of the most reliable forms of investment in India, especially when looking for a safe and high-yield investment. Established banks like SBI, IDBI, and Punjab & Sindh Bank have very high interest rates for special FD schemes these days, with up to a maximum of 8.05%.
Imagine earning ₹95,000 in just 777 days by investing ₹5 lakhs! Hurry, though, because these exclusive deals are valid only until March 31, 2025. Keep reading to find out which banks have the highest FD rates and how to best take advantage of them.
Why Invest Now in Fixed Deposits?
Banks’ FD interest rates are being revised regularly. This is why, at present, you see several public and private sector banks announcing special short-term schemes with above-average returns; but not for long, as these would end with the financial year, which is March 31, 2025. After this date, most probably, the rates will drop. Hence, it is an opportune time to lock in such high rates.
Top Bank FD Schemes with Highest Interest Rates (2024-25)
1. SBI Amrit Kalash & Amrit Vrishti Yojana
Amrit Vrishti Yojana (444 Days)
- General Public: 7.25%
- Senior Citizens: 7.75%
Amrit Kalash Scheme (400 Days)
- General Public: 7.10%
- Senior Citizens: 7.60%
Last Date to Invest: March 31, 2025
2. IDBI Bank Utsav Callable FD
IDBI Bank’s Utsav Callable FD offers flexible tenures with varying interest rates. This scheme is available for a limited period, so investors must act fast.
Last Date to Invest: March 31, 2025
3. Indian Bank IND Super FD Scheme (Best for Senior Citizens!)
Indian Bank’s special FD schemes provide senior citizens with up to 8.05% interest, the highest in the market right now!
- IND Supreme 300 Days FD
- IND Super 400 Days FD
Last Date to Invest: March 31, 2025
4. Punjab & Sindh Bank Special FD (333 to 999 Days)
This bank offers multiple tenure options with attractive returns:
- 333 Days: 7.20%
- 444 Days: 7.30%
- 555 Days: 7.45%
- 777 Days: 7.20%
- 999 Days: 6.65%
Senior citizens get an additional 0.50% interest!
Last Date to Invest: March 31, 2025
How Much Can You Make? Sample Calculation
Investing ₹5 lacs in Punjab & Sindh Bank’s 777-day FD:
- General Investors: 7.25%→ Maturity amount ≈ ₹5,86,000
- Senior Citizens: 7.75%→ Maturity amount ≈ ₹5,95,000
- That’s guaranteed profit of ₹95,000 over just 777 days!
Frequently Asked Questions (FAQs)
- How much return can I expect from a 777-day FD?
Investing ₹5 lakh can give you ₹5,86,000 (general) or ₹5,95,000 (senior citizens). - Do senior citizens get higher interest rates?
Yes! Most banks provide 0.50% extra for senior citizens. - Is FD interest taxable?
Yes, FD interest is fully taxable under your income slab. - What is the last date to invest in these schemes?
All special FDs have validity only until March 31, 2025. - Which bank has the highest FD rate?
Currently, it is topped by Indian Bank (8.05%), Punjab & Sindh Bank (7.75%), and SBI (7.75%).
Final Thoughts
Therefore, if banks provide rates for FDs higher than historical levels, it’s a time to save and earn risk-free returns. Be it a salaried person, a retiree, or a conservative investor, this time-limited FD scheme can grow money safely and steadily.
Don’t wait–lock in the best rates before March 31, 2025!