In a market crowded with fixed deposit (FD) options, two of the State Bank of India’s (SBI) limited-period schemes—Sarvottam Special FD and Amrit Kalash Special FD—are standing out for offering above-average interest rates. These FDs aim to provide both general and senior citizens with competitive returns on investments made for specific durations, with maturity tenures ranging from 1 to 2 years.

SBI Sarvottam Special FD

The SBI Sarvottam Special FD is a non-callable retail term deposit, offering two tenures of one and two years. In this scheme, general citizens receive a 7.10% interest rate for a one-year deposit and 7.40% for two years, while senior citizens are eligible for higher rates: 7.40% for one year and 7.90% for two years.

For those opting for bulk retail deposits, the interest rates are slightly higher for general citizens, with a 7.30% rate for a one-year deposit and 7.80% for two years, while senior citizens benefit from an increased 7.40% and 7.90% rate, respectively.

Example Maturity Calculations

An investment of Rs 6 lakh in SBI Sarvottam Special FD for a two-year term would yield around Rs 8.28 lakh for general citizens at 7.40% interest. Senior citizens would gain approximately Rs 8.36 lakh, thanks to the enhanced rate of 7.90%.

Punjab National Bank 400-Day Special FD

Another option for investors is Punjab National Bank’s (PNB) special 400-day FD, offering interest rates of 7.30% for general citizens, 7.75% for senior citizens, and 8.05% for super seniors (aged 80 and above).

This limited-period scheme provides competitive returns, especially for senior citizens and super seniors looking for a short-term, high-interest FD option.

Summary

With the rising popularity of special FDs, these limited-time offers provide a higher return on investment compared to regular FD schemes. Senior citizens, in particular, benefit from the higher interest rates, making these options attractive for those looking to maximize returns on their savings.