Opportunity to make money, banks are increasing interest rates on FD to get more deposits

Last Updated:January 15, 2025, 03:01 IST

Bank FD Schemes: If you want to earn money through bank FD then you have a golden opportunity. Many banks including SBI and HDFC Bank have also increased the interest rates on FD in recent times.

Bank FD Schemes: With guaranteed returns on investment and high liquidity, fixed deposit i.e. FD is one of the most preferred investment options in our country. If you also want bumper interest on FD then this news is useful for you. Banks are offering higher interest rates on FDs to customers to attract larger volume of deposits. Along with big banks like SBI and HDFC Bank, small banks have also increased the interest rates on FD in recent times.

SBI has recently added a new category Super Senior Citizen (above 80 years). The bank is offering an additional interest rate of 10 basis points to this category of depositors. A similar scheme is also being run by IDBI Bank.

IDBI Bank’s new special FD scheme
IDBI Bank has launched ‘IDBI Chiranjeevi-Super Senior Citizen FD’, a special FD for people aged 80 years and above. In this scheme, 0.65 percent more interest is being provided than the standard FD rates. Under this scheme, 8.05 percent interest is being given for FD for 555 days, 7.9 percent for 375 days, 8 percent for 444 days and 7.85 percent for 700 days.

SBI also launched Har Ghar Lakhpati Scheme
SBI is continuously taking steps to attract investors. Under this, the country’s largest bank has started ‘Har Ghar Lakhpati’ RD scheme. The objective of this scheme is to collect funds of one lakh or more through monthly deposits for 3 to 10 years. In this scheme, any person of 10 years or more can open an account. In this scheme, people below 60 years of age are being given an interest rate of 6.75 percent for a period of 3 and 4 years and 6.50 percent for a period of 5 to 10 years. At the same time, people above 60 years of age are being offered interest rates of 7.25 percent for 3 and 4 years and 7 percent for 5 to 10 years.

Bank of Baroda also started liquid fixed deposits
Apart from this, Bank of Baroda has started Liquid Fixed Deposit, customers can withdraw in units of Rs 1,000 after initial deposit of Rs 5,000.