SBI withdraws a special fixed deposit plan, continues another ahead of RBI MPC meet

Ahead of the Reserve Bank of India's bi-monthly Monetary Policy Meeting (MPC), the State Bank of India (SBI) has withdrawn its Amrit Kalash Special Fixed Deposit Scheme with effect from April 1, 2025.

The Amrit Kalash special FD offered 7.1% interest to general citizens and 7.6% interest to senior citizens on deposits of 400 days.

However, the public sector bank is still offering another special fixed deposit of 444 days' tenure. Named Amrit Vrishti, this scheme offers 7.25% interest to general citizens and 7.75% interest to senior citizens. The bank offers 7.85% interest to super senior citizens on Amrit Vrishti deposits.

On regular deposits, SBI offers a maximum of 7.5% interest to senior citizens and 7% to others.

Meanwhile, Indian Bank and Punjab & Sind Bank have extended their special fixed deposit schemes till June 30, 2025.

Indian Bank is offering IND Supreme 300 Days and IND Super 400 Days special FD schemes with up to 8.05% interest for super senior citizens.

• IND Super 400 Days offers 7.3% interest to the general public, 7.8% interest to senior citizens, and 8.05% interest to super senior citizens.

• IND Supreme 300 offers 7.05% interest to the general public, 7.55% interest to senior citizens, and 7.8% interest to super senior citizens.

Punjab & Sind Bank has discontinued special FDs of 333 days and 555 days tenures. These schemes offered 7.72% and 7.45% interest rates, respectively.

The bank has extended the deadline for some other special FDs, but at reduced rates. For a special FD of 444 days, the bank is now offering 7.1% interest. On 777 days FD, the new rate is 6.5%, and on a 999-day term deposit, the bank is now offering 6.35% interest.