Limited Period FD! This Govt. Bank Offers Special Tenure FD Upto 7.90% Ending March & April

Many banks began offering special fixed deposits (FDs) to senior citizens including the general public with higher interest rates than the regular rates offered to both. Following the increase in the repo rate, a number of banks increased the interest rates on their FDs and also introduced a special FD scheme for customers in recent months.

Banks are currently offering higher rates on recently launched fixed deposits for a short period of time, in line with the trend of higher interest rates. Most of the popular banks, both public and private, offer special FD schemes, especially for senior citizen depositors. Though most of these special deposits expire on March 31, 2023, only a small number do so on April 30, 2023.

Among various banks, Indian Bank, a public sector bank, also offers a special FD scheme for their customers. The bank has introduced 2 special FD schemes "IND SUPER 400 DAYS" and "IND SHAKTI 555 DAYS".

Indian Bank Special FD Schemes

IND SUPER 400 DAYS

According to the bank, Special Retail Term Deposit Product "IND SUPER 400 DAYS" has been launched w.e.f 06.03.2023 offering higher rate of interest for investment starting from Rs.10000 to less than 2 Crore for 400 days in the form of FD/MMD with callable options.

Note - Scheme Valid till 30.04.2023

IND SHAKTI 555 DAYS

According to the bank, Special Retail Term Deposit Product "IND SHAKTI 555 DAYS" has been launched w.e.f 19.12.2022 offering higher rate of interest for investment starting from Rs.5000 to less than 2 Crore for 555 days in the form of FD/MMD with callable options.

Interest Rates

Public FD - 7%

Senior Citizens FD

7.15% up to 27.12.2022

7.50 % w.e.f 28.12.2022

Note - Scheme Valid till 31.03.2023

Source - www.indianbank.in