State Bank of India (SBI) and IDBI Bank had floated special fixed deposit (FD) schemes, whose tenure will end this month
SBI's special FD Amrit Kalash Deposit scheme and IDBI's FD scheme Amrit Mahotsav will end on August 15 as per information available on both the bank websites
SBI initiated the Amrit Kalash Deposit scheme in February for a specific tenor scheme of 400 days
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The special FD offers an interest rate of 7.6% to senior citizens and 7.1% to general customers. Premature and loan facilities will also be available on the new Amrit Kalash Deposit scheme
IDBI introduced the Amrit Mahotsav special fixed deposit (FD) scheme of 375 days
On a special maturity bucket of 375 days, IDBI Bank offers an interest rate of 7.1% for the general public and 7.6% for senior citizens
Under the Amrit Mahotsav FD scheme of 444 Days, the lender offers interest rate of 7.15% to general, NRE and NRO. For senior citizens, the bank offers 7.65%
SBI offers an interest rate ranging from 3% to 7% for regular citizens and 3.5% to 7.5% for senior citizens on term deposits maturing in seven days to ten years
IDBI Bank offers interest rates between 3% and 6.8% to general citizens for deposits below Rs 2 crore. For senior citizens, the rates range from 3.5% to 7.3%