Major Indian banks launch special fixed deposit schemes with higher rates for seniors

Major banks in India, including SBI, IDBI, and Indian Bank, are offering special fixed deposit (FD) schemes with higher interest rates for both general and senior citizens. These schemes are available until March 31, 2025. SBI's new FD options include interest rates of 7.10% for general citizens and 7.60% for senior citizens for a 400-day tenure. IDBI Bank has introduced a 555-day FD with rates of 7.40% for general citizens and 7.90% for seniors. Indian Bank's IND Super 400 Days scheme offers 7.30% for general citizens and 7.80% for senior citizens. Punjab & Sind Bank has various tenures ranging from 222 to 999 days, also valid until March 31, 2025.