Looking for safe returns? Check limited period FD offering 7% till Sep

Special deposit schemes from SBI, Indian Bank and IDBI offer attractive rates, but the investment window is closing soon.

Several banks are currently running limited-period fixed deposit (FD) schemes with attractive interest rates. These products, available for unusual tenures such as 444, 555 and 700 days, are drawing attention from investors looking to park surplus money in a safe option. However, many of these schemes come with September deadlines.

What are special FDs?

Special fixed deposits differ from regular term deposits in two key ways:

 

• Unique tenures: Instead of the usual one-year, two-year or three-year options, banks offer deposits for specific durations such as 444, 555 or 700 days. 
• Higher rates for senior citizens: Banks typically provide an additional interest margin to senior and super senior citizens, making these schemes more attractive for retirees. 
• These products are generally launched for a short window. Once the deadline ends, banks either withdraw them or reintroduce them with revised rates.

 

Indian Bank’s Ind Secure and Ind Green FDs

Indian Bank has introduced two special deposit products:

 

 

Ind Secure (444 days):

 

Public: 6.70 per cent

 

Senior citizens: 7.20 per cent

 

Super senior citizens: 7.45 per cent

 

Ind Green (555 days):

 

Public: 6.60 per cent

 

Senior citizens: 7.10 per cent

 

Super senior citizens: 7.35 per cent

 

Both schemes are open until 30 September 2025, with investments starting from as low as Rs 1,000.

 

IDBI Bank’s Utsav FDs

IDBI Bank is offering special callable deposits under its “Utsav” series for 444, 555 and 700 days. The deadline for all three is 30 September 2025.

 

• 444 days: 6.70 per cent (public), 7.20 per cent (seniors) 
• 555 days: 6.75 per cent (public), 7.25 per cent (seniors) 
• 700 days: 6.60 per cent (public), 7.10 per cent (seniors)

The bank also runs a Chiranjeevi FD exclusively for super senior citizens (80 years and above), offering slightly higher returns, up to 7.40 per cent on the 555-day deposit.

 

SBI’s Amrit Vrishti FD

State Bank of India (SBI) continues to offer its Amrit Vrishti 444-day FD. The rates are:

 

Public: 6.60 per cent

 

Senior citizens: 7.10 per cent

 

Super senior citizens: 7.20 per cent

 

The scheme was earlier extended, but the bank has not specified a closing date, making it an open-ended option for now.

 

Should you invest?

For risk-averse investors, these special FDs provide a safe way to lock into higher returns, particularly at a time when interest rates may be nearing their peak. Senior and super senior citizens stand to benefit the most, given the enhanced rates offered to them.

 

However, before committing, savers should compare the returns with other debt instruments and keep liquidity needs in mind, as premature withdrawals could reduce the effective yield.