FD Schemes: If you’ve been putting off investing because the stock market feels risky, or you just want stable, guaranteed returns without the stress… this is your window.
Two trusted banks—IDBI Bank and Punjab & Sind Bank—are offering special Fixed Deposit (FD) schemes that could give you over 7% interest. But here’s the catch: they’re only available till June 30.
Let’s walk through the details so you can decide if it’s the right fit for you or your loved ones. And if you’re a senior citizen? There’s even more in store.
What’s So Special About These FD Schemes?
Unlike regular fixed deposits, these are limited-period schemes with boosted interest rates—designed to help people lock in higher returns before rates change again.
Here’s a quick look:
| Bank | Tenure | Interest (General) | Interest (Seniors) |
|---|---|---|---|
| IDBI Bank (Utsav FD) | 444 days | 7.10% | 7.60% |
| 555 days | 7.15% | 7.65% | |
| 700 days | 7.00% | 7.50% | |
| Punjab & Sind Bank | 375 days | 7.25% | 7.75% |
| 444 days | 7.10% | 7.60% |
Deadline: June 30, 2025
So if you’re thinking, “I’ll do it later…”don’t wait too long. Once these schemes close, the higher rates might be gone too.
Why These Schemes Might Be Perfect for You
Still unsure if this is for you? Here’s what makes them worth a second look:
- High Interest: Over 7%—which is higher than most regular FDs right now.
- Extra Benefits for Seniors: Up to 0.50% more for those 60+.
- Safe & Secure: Backed by government-regulated banks.
- Short to Medium Term: Lock-in periods range from just over a year to under two years.
If you’re someone who doesn’t want to gamble with your hard-earned savings, this is a low-risk, steady growth option.
How to Invest – Step by Step
You don’t need to be a finance expert to grab this opportunity. Here’s how to get started:
For IDBI Bank’s Utsav FD:
- Visit the nearest IDBI branch or log in to your online banking.
- Choose from the 444, 555, or 700-day options.
- Deposit amount: Anything below ₹3 crore is allowed.
- Select whether you’re a general or senior citizen to get your interest rate.
- Complete the process—it’s quick and hassle-free.
For Punjab & Sind Bank:
- Go to your nearest Punjab & Sind Bank branch.
- Choose either 375 days (7.25%) or 444 days (7.10%).
- Minimum investment: ₹1 lakh. Maximum: less than ₹3 crore.
- Seniors? You automatically get 0.50% extra.