Special Schemes by Indian Banks: Two exclusive FD schemes offered by the Indian Government Banks are set to close in August. These special FD schemes include IND SUPER 400 DAYS and IND SUPREME 300 DAYS. Both schemes offer returns of up to 8 percent. So, if you’re looking to invest and secure substantial returns, this is your final opportunity. Investors can capitalize on significant gains through these schemes.
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Investment Period of 400 Days in FD
According to Indian Bank, the investment deadline for IND SUPER 400 DAYS is August 30, 2023. Under this FD, an amount ranging from less than Rs 10,000 up to Rs 2 crore can be invested for a duration of 400 days. For regular citizens, the bank offers an interest rate of 7.25 percent on this special FD.
Investment Benefits for Senior Citizens
Simultaneously, senior citizens are provided with an interest rate of 7.75 percent, and super senior citizens are offered an interest rate of 8.00 percent. If you want to capitalize on substantial gains through this investment, this is your final opportunity.
Investment Period of 300 Days in FD
As per Indian Bank, IND SUPREME 300 DAYS was launched on July 1, 2023, and investments can be made until August 31. Investors can deposit amounts ranging from less than 5000 to 2 crores in this FD scheme with a tenure of 300 days. Indian Bank has announced an interest rate of 7.05 percent for regular citizens and 7.55 percent for senior citizens on this special FD. Hence, senior citizens will enjoy the highest interest rate of 7.80 percent.
Other FD Interest Rates by Indian Bank
Indian Bank offers the general public the opportunity to invest in FDs with periods ranging from 7 days to 10 years. These FD schemes provide interest rates ranging from 2.80 percent to 6.70 percent. Indian Bank states that premature withdrawal of FD amounts incurs a 1 percent penalty based on the applicable rate for the deposit period at the bank.