New Delhi: The Reserve Bank of India has urged banks to devise special products for retail customers to raise funds for lending. The central bank has warned banks against resorting to newer market products to raise funds. Several lenders have announced special FDs to entice borrowers with lucrative returns on longer tenure deposits.
The special FD rates announced by different lenders apply to both callable and non-callable deposits of up to Rs 3 crore. Check special FDs announced by Union Bank of India, Punjab National Bank, and IDBI Bank for 300-day FD tenures.
Union Bank special FD rate
Union Bank of India launched its 333-day special FD offering up to 8.15 per cent interest rates. The special FD is available on deposits between Rs 1,000 and Rs 3 crore. The bank is offering 7.40 per cent interest to general depositors, 7.90 per cent returns to senior citizens and 8.15 per cent interest rate to super senior citizens.
IDBI Bank special FD rate
IDBI Bank is offering a 7.05 per cent interest rate on Utsav Callable FDs of 300-day tenure. Senior citizens can earn up to 7.55 per cent interest rates on 300-day Utsav Callable FDs offered by the LIC-majority-owned lender. The last date for investing in this FD is September 30, 2024.
PNB 300-tenure FD Rates
PNB Uttam non-callable FDs apply to deposits of Rs 1-3 crore. Punjab National Bank is offering 7.10 per cent interest to general depositors on 300-day tenure fixed deposits. The country’s second largest lender offers 7.60 per cent interest on the same tenure to senior citizens. PNB Uttam non-callable FD offers 7.90 per cent interest rate to super senior citizens.
PNB Uttam (Non-Callable) Fixed Deposit Scheme( for Deposit above Rs. 1 Crore to less than Rs 3 Crore)
Sl. No
Period
Revised Rates For Public w.e.f. 01.08.2024
*Revised Rates for Senior Citizens w.e.f. 01.08.2024
#Revised Rates for Super Senior Citizens w.e.f. 01.08.2024
1
91 to 179 days
4.55
5.05
5.35
2
180 days to 270 days
6.30
6.80
7.10
3
271 days to 299 Days
6.55
7.05
7.35
4
300 Days
7.10
7.60
7.90
5
301 Days to <1 Year
6.55
7.05
7.35
6
1 Year
6.85
7.35
7.65
7
>1 Year to 399 Days
6.85
7.35
7.65
8
400 days
7.30
7.80
8.10
9
401 days to 2 years
6.85
7.35
7.65
10
> 2 year to 3 years
7.05
7.55
7.85
11
> 3 year to 1203 days
6.55
7.05
7.35
12
1204 days**
6.45
6.95
7.25
13
1205 days to 5 years
6.55
7.05
7.35
14
> 5 years to 1894 days
6.55
7.35
7.35
15
1895 days**
6.40
7.20
7.20
16
1896 days to 10 years
6.55
7.35
7.35
Union Bank of India announced special FD rates for 333-day fixed deposit tenures. Check FD rates on similar tenure offered by other banks. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
