Kolkata: Over the past few years, fixed tenure fixed deposits have been increasingly launched by banks with slightly higher rate of interest to attract depositors. About half a dozen such FD schemes are coming to an end at the end of FY25. Therefore, the deadline to take advantage of these higher rates of interest is March 31, 2025, which is only seven days away.
Significantly, despite the much higher returns by equities and mutual fund and even precious metals such as gold and silver (especially as demonstrated in 2025 by the two metals), a large section of Indians repose a lot of trust on bank FDs. Personal investment strategists too recommend that a part of any portfolio should consist of fixed-income securities, a space in which FDs have prominent presence. All those who are risk-averse (such as retirees, senior citizens) park a large share of their funds into FDs. Let’s have a look which are the bank FDs that are coming to a close on March 31, 2025.
State Bank of India FD
Two of the FDs that are coming to a close on March 31, 2025 are from India’s largest bank State Bank of India (SBI). SBI Amrit Vrishti is an FD with a maturity period of 444 days and it pays 7.25% rate of interest for general customers and 7.75% for senior citizens.
The other fixed tenure FD from SBI is Amrit Kalash, which has a maturity period of 400 days and offers 7.10% for general customers and 7.60% for senior citizens. This special FD scheme, too, in ending on March 31, 2025.
HDFC Bank FD
India’s biggest private sector lender, HDFC Bank, has a special FD that offers a rate of 7.35% to general depositors and 7.85%. This special FD has a fixed tenure of 35 months.
Indian Bank FDs
PSU lender Indian Bank has special FD schemes that are called IND Supreme 300 Days and IND Super 400 Days. These schemes offer preferential interest rates — the peak rate being 8.05% for super senior citizens (those above 80 years). These schemes are also coming to an end on March 31, 2025.
Punjab and Sindh Bank special FD
Punjab and Sindh Bank’s has a few FDs with fixed tenures. These come with maturity periods of 333 days (interest rate 7.20% for general customers, 7.70% for senior citizens), 444 days (7.30% and 7.80%), 555 days (7.45% and 7.95%), 777 days (7.20% and 7.70%) and 999 days (6.65% and 7.15%). These schemes will be available till March 31, 2025.
IDBI Bank FDs
March 31, 2025 is also the late date to invest in Utsav Callable FDs from IDBI Bank. These are special FDs that have interest rates varying with the tenures of the schemes. For example, FDs with 300 days maturity period offer 7.05% for general customers, 7.55% for senior citizens, while the rates are 7.25%, 7.75% and 7.9% on FDs for general cutomers, senior citizens and super senior citizens.
One important point to note is that India is stepping into what experts term a declining interest rate cycle. Therefore, new rates applicable on fixed term FDs could be declining and these seven days could be a opportunity to get the benefit of the existing rates. However, it must be remembered that it is always advisable to consult a qualified personal finance expert before committing your hard-earned money in any scheme.
A number of banks have floated fixed tenure Fixed Deposits (FD) in the past few years and they became popular due to the higher rate of interest they offered to the depositors. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
