Banks and financial institutions periodically launch special FD schemes to attract customers. These schemes might offer higher interest rates for specific tenures (e.g., 444 days or 500 days), flexible payout options, or additional benefits for targeted groups (such as senior citizens or women depositors). Examples include SBI’s Amrit Vrishti 444‑day scheme (interest rate around 6.60 %), Shriram Finance’s 60‑month FD yielding up to 8.40 %, and post‑office 5‑year deposits at 7.50 %. When choosing an FD scheme, compare the rate, tenure, compounding frequency, and bank’s creditworthiness.
Features to Evaluate in FD Schemes
| Factor | Considerations |
|---|---|
| Interest rate | Check if it is higher than regular FDs and by how much |
| Tenure | Special tenures may not align with your liquidity needs |
| Compounding frequency | Cumulative, monthly or quarterly payout options |
| Bank credibility | Prefer banks and NBFCs with high safety ratings |
Invest only after reading the scheme’s terms, particularly premature withdrawal rules.
