Special FD: SBI's special FD will be closed in 12 days, money is deposited for only one year and you get great interest..

Higher interest in short-term FDs, if you also want to take advantage of this scheme, then only 12 days are left. This special FD of 3 government banks including SBI will be closed on 30 September. These government banks had launched this special FD to attract customers. SBI, IDBI, and Indian Bank offer interest ranging from 7.05 percent to 7.35 percent on their special FDs.

The biggest thing is that the tenure of these FDs is only 300 days to 444 days. This means that by depositing money for about a year, you get more than 7 percent interest. Usually, one-year FDs get interest of around 6 percent. So if you do not like to take more risk and want to get more interest, then you can invest in the FDs of these three banks before September 30, 2024.

Interest on FDs is going to decrease.
It is being speculated that the US central bank Federal Reserve may reduce interest rates for the first time in 4.5 years after inflation and other figures come under control. After this, RBI can also decide to reduce the repo rate in India. In such a situation, it is expected that banks will also reduce the interest rate on FDs in the future. You can also get less interest in FD in the future. In such a situation, it would be better to take advantage of this special FD.

How much interest in IDBI FD
IDBI Bank's Utsav FD scheme has been launched for 300, 375, 444, and 700 days. Under this scheme, senior citizens get interest ranging from 7.55 to 7.85 percent, while other general investors are given interest ranging from 7.05 percent to 7.35 percent. This interest is decided based on the tenure of the FD.

How much will SBI pay?
SBI also launched a special FD named Amrit Kalash. This FD of 400 days is getting 7.10 percent interest, while senior citizens are given 7.60 percent interest. The validity of this FD is also ending on 30 September. Indian Bank is also offering 7.05 percent interest to general citizens, 7.55 percent to senior citizens, and 7.80 percent to super senior citizens on its 300-day super FD. The interest on 400-day FD starts from 7.25 percent and goes up to 8 percent.