As of this month, five guaranteed schemes will be discontinued, including three schemes from State Bank of India (SBI) and two from IDBI Bank and Indian Bank. These schemes offer various investment plans with different tenures and interest rates. Here’s a summary of each scheme:
1. SBI Amrit Vrishti – 444-day investment plan: This scheme offers 7.25% interest for the general public and 7.75% interest for senior citizens.
2. SBI Amrit Kalash – 400-day fixed deposit plan: This scheme offers 7.10% interest for the general public and 7.60% interest for senior citizens.
3. Mahila Samman Savings Certificate: This government-backed scheme for women offers an interest rate of 7.50% with a tenure of 2 years.
4. IDBI Bank Utsav Callable FD: This scheme offers tenures ranging from 300 to 700 days and interest rates between 7.05% to 8.05%.
5. Indian Bank Special FD: This scheme offers two tenures – 300 days (interest rates between 7.05% to 7.80%) and 400 days (interest rates between 7.30% to 8.05%).
These schemes offer attractive interest rates, making them a viable option for investors looking for a fixed return on their investment. However, it is essential to consider the fees, taxes, and other associated with each scheme before investing. As the number of these schemes declines, investors are advised to take advantage of these offers before they become unavailable.