Special FD schemes: Know what banks like SBI, PNB, Canara Bank, HDFC Bank are providing on Rs 10 lakh investment in special FDs
SBI Amrit Vrishti Scheme: State Bank of India provides 7.75 per cent interest rate to senior citizens on this special FD scheme while others get a 7.25 per cent interest rate.
Special FDs (fixed deposits) are limited-term plans that pay higher interest rates than traditional FDs. Banks may extend the term of special FDs based on investor interest. Special FDs banks offer include Amrit Vrishti by SBI, and BoB Utsav by Bank of Baroda (BoB), among others.
Images: Pixabay, Pexels, Freepik
Special FD schemes by banks like SBI, BoB and others
A look at these special FD schemes. Also know, what you can get on maturity if you invest Rs 10 lakh.
SBI Amrit Vrishti Scheme
SBI provides 7.75 per cent interest rate to senior citizens on this special FD scheme while others get a 7.25 per cent interest rate.
Amrit Vrishti Scheme: What you can get on the Rs 10 lakh investment on maturity?
If a senior citizen invests Rs 10 lakh in the Amrit Vrishti scheme, they will get 10,99,295 on maturity while others will get Rs 10,92,661. The tenure is 444 days.
BoB Utsav FD scheme
Bank of Baroda provides a 7.80 per cent interest rate to senior citizens on this special FD scheme while others get a 7.30 per cent interest rate. The tenure is 400 days.
BoB Utsav: What you can get on the Rs 10 lakh investment on maturity
If a senior citizen invests Rs 10 lakh in the BoB Utsav scheme, they will get 10,89,624 on maturity while others will get Rs 10,83,699.
PNB 400 days FD scheme
PNB provides a 7.75 per cent interest rate to senior citizens on this special FD scheme while others get a 7.25 per cent interest rate. The tenure is 400 days.
PNB: What you can get on the Rs 10 lakh investment on maturity
If a senior citizen invests Rs 10 lakh in the PNB FD scheme, they will get 10,89,030 on maturity while others will get Rs 10,83,107.
HDFC Bank 4 Year 7 Months (55 months) FD scheme
HDFC Bank provides a 7.90 per cent interest rate to senior citizens on this special FD scheme while others get a 7.40 per cent interest rate.
HDFC Bank: What you can get on the Rs 10 lakh investment on maturity
If a senior citizen invests Rs 10 lakh in this HDFC Bank FD scheme, they will get 14,31,259 on maturity while others will get Rs 13,99,434.
Canara Bank 3 years to less than 5 years FD scheme
Canara Bank provides a 7.90 per cent interest rate to senior citizens on this special FD scheme while others get a 7.40 per cent interest rate.
Canara Bank: What you can get on the Rs 10 lakh investment on maturity
If a senior citizen invests Rs 10 lakh in this Canara Bank FD scheme for three years, they will get 12,64,517 on maturity while others will get Rs 12,64,517.
Axis Bank 15 months to less than 2 years FD scheme
Axis Bank provides a 7.75 per cent interest rate to senior citizens on this special FD scheme while others get a 7.25 per cent interest rate.
Axis Bank: What you can get on the Rs 10 lakh investment on maturity
If a senior citizen invests Rs 10 lakh in this Axis Bank FD scheme for two years, they will get 11,65,928 on maturity while others will get Rs 11,54,540.