Fixed Deposit Interest Rates at Peak: Opportunity for Strong Returns

Fixed Deposit (FD) interest rates have reached their peak and are not expected to increase further with the rate freeze by RBI. This presents a great opportunity for those seeking strong returns. Some banks have even started cutting their FD rates following the RBI’s freeze. However, there are some special FD schemes that are set to close on June 30, 2023, which have proved to be very useful for customers and have given huge profits. Let’s take a look at some of these schemes.

SBI Amrit Kalash

The Amrit Kalash FD Retail Term Deposit Scheme of State Bank of India (SBI), the country’s largest lender, is valid till the end of June. The scheme comes with a special tenor of 400 days, on which the general public gets an interest rate of 7.10% and senior citizens an interest rate of 7.60%.

Indian Bank Special FD

Indian Bank had extended the “Ind Super 400 Days” special fixed deposit till June 30, 2023. Through this, Indian Bank will offer 7.25% interest rate to the general public and 7.75% to senior citizens.

SBI We Care

SBI Wecare FD scheme is exclusively for senior citizens only and the scheme comes with a tenure of 5 years to 10 years. SBI is offering an interest rate of 7.50% to senior citizens under the Wecare FD scheme for a limited time period till June 30, 2023.

With these special FD schemes set to close at the end of June, customers should act fast to take advantage of the attractive interest rates they offer.

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