Special FD Schemes: PSU banks like SBI, PNB, Canara Bank are providing these FD interest rates; know maturity amount on Rs 5 lakh investment
Special FD Schemes: In special FDs, if you don't withdraw the money for the specified period, you will earn higher interest than on standard FDs.
Special FD investments mean investing for a limited time. These FDs provide higher interest rates than traditional FDs. Some of these FD schemes include SBI's Amrit Vrishti, Bank of Baroda's BoB Utsav among many others. Other than special FDs, there are regular income FDs, senior citizen FDs, flexi deposit FDs, corporate FDs and tax-saving FDs.
Images: Pixabay, Pexels, Unsplash
Interest on special FDs
In special FDs, if you don't withdraw the money for the specified period, you will earn higher interest than on standard FDs.
Maturity amount on Rs 5 lakh investment
A look at these special FD schemes by banks like SBI, BoB, Canara Bank, ICICI Bank, HDFC Bank, and PNB. Also know, what you can get on maturity if you invest Rs 5 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 5 lakh investment on maturity?
If a senior citizen invests Rs 5 lakh in the Amrit Vrishti scheme, they will get Rs 5,49,648 on maturity while others will get Rs 5,46,330. 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 5 lakh investment on maturity
If a senior citizen invests Rs 5 lakh in the BoB Utsav scheme, they will get Rs 5,44,812 on maturity while others will get Rs 5,41,849.
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 5 lakh investment on maturity
If a senior citizen invests Rs 5 lakh in the PNB FD scheme, they will get Rs 5,44,515 on maturity while others will get Rs 5,41,554.
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 5 lakh investment on maturity
If a senior citizen invests Rs 5 lakh in this HDFC Bank FD scheme, they will get Rs 7,15,629 on maturity while others will get Rs 6,99,717.
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 5 lakh investment on maturity
If a senior citizen invests Rs 5 lakh in this Canara Bank FD scheme for three years, they will get Rs 6,32,258 on maturity while others will get Rs 6,23,021.
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 5 lakh investment on maturity
If a senior citizen invests Rs 5 lakh in this Axis Bank FD scheme for two years, they will get Rs 5,82,964 on maturity while others will get Rs 5,77,270.