Winning Bizness Desk

Mumbai. The Reserve Bank of India (RBI) had increased the repo rate in the last few months to curb the rising inflation in the country. After this banks also increased the rate on FD. Interest rates on FDs have increased sharply in recent days. However, the Reserve Bank has not increased the repo rate after inflation has come under some control. In such a way, there is little chance that there will be further increase in interest rates in the coming days. Some FD schemes have given bumper profits to people. These bumper return FD schemes are going to close on 30 June 2023. In this case, if you want to make a profit, you have a chance now. Some banks have also started cutting FD rates. Punjab National Bank has cut its interest rates for FDs on June 1, 2023.

What are those FDs?

Indian Bank's “Ind Super 400 Days” is a special FD scheme. In this, 7.25% interest rate is being given to people and 7.75% to senior citizens. Indian Bank had extended this special FD scheme till June 30, 2023. People have the last chance to invest in it. Amrit Kalash FD Retail Term Deposit Scheme of the country's largest bank State Bank of India (SBI) is going to be closed this month i.e. June. It is valid till 30 June. SBI Amrit Kalash FD Scheme comes with a special tenure of 400 days, on which the general public gets an interest rate of 7.10% and senior citizens get an interest rate of 7.60%. This scheme is valid till 30 June 2023. SBI We Care FD Scheme is exclusively for Senior Citizens only. This scheme comes with a tenure of 5 years to 10 years. SBI is offering an interest rate of 7.50% to senior citizens for a limited period till June 30, 2023 in We Care FD Scheme.