Deadline End in March: The last month of the financial year 2023-2024 is going on. You have many important tasks to complete in the month of March. If you do not complete these important tasks by March 31, then your problems or rather the burden on your pocket may increase.

With the end of the month of March, the new financial year will also begin, so before the end of the month of March, you will have to settle many financial tasks. Forgetting this deadline can land you in trouble. Some are so important that if you do not complete them in March, you may have to pay a penalty and your account may be suspended.

Don’t miss the Aadhaar update deadline

If you want to update your Aadhaar, you can get it updated without any fee till 14th March. After this, you will have to pay a charge to get Aadhaar updated. Let us tell you that it is necessary to update the 10 year old Aadhar card.

Paytm Payment Bank Deadline

The Reserve Bank of India had ordered to stop most of the services of Paytm Payment Bank from March 15. After this you will not be able to use the services of Paytm Payment Bank. If you use the services, account of Paytm Payment Bank or your Paytm wallet is linked to Paytm Payment Bank, then you should immediately link it to another bank. If your salary is received in Paytm Payment Bank, then immediately update another bank account in your account.

Last chance to invest in SBI FD

The last deadline to invest in SBI Amrit Kalash is 31 March 2024. In this FD you have got 7.10 percent interest for 400 days. Whereas senior citizens get interest of 7.60 percent.

Important news for Sukanya Samriddh Yojana and PPF

If you have invested in a small savings scheme like Sukanya Samriddhi Yojana or Public Provident Fund (PPF), then it is important to maintain a minimum amount in it to keep this account active. You have to maintain minimum balance in PPF, Sukanya Scheme accounts till 31st March. Accounts without balance can be deactivated after March 31. To restart it, you may have to visit the bank as well as pay a penalty.

income tax saving deadline

If you want to save to save tax for the financial year 2022-23, then you have time till March 31. By investing in different savings schemes, you can avail tax exemption under Section 80C of Income Tax. For this you will have to invest till 31st March.

Wallet linked to

Paytm Fastag closed

According to the guidelines of Reserve Bank of India, Paytm Fastag will not work after March 15. After March 15, you will not be able to use Paytm’s FASTag. Your Fastag may be deactivated after March 15. If this happens, you may have to pay double toll tax.

KYC of Fastag

Fastag KYC has been made mandatory. If you have not got your Fastag KYC done then get it done immediately. Because after March 31, Fastag without KYC will be deactivated or blacklisted. After this you will not be able to make payment despite having balance in Fastag.

IDBI Bank Special FD

IDBI Bank has kept the deadline for special FD as 31st March. Under this special FD, interest of 7.05 percent, 7.10 percent and 7.25 percent is being given on FDs of 300, 375, 444 days respectively.

SBI Home Loan

If you want to take advantage of the discount on home loan, you have time till March 31. A special scheme is being run by SBI for discount on home loan. However, the benefit of this scheme will be available only to those people whose CIBIL score is more than 700-800. He is getting home loan from the bank at an interest rate of 8.60 percent. SBI home loan without offer is 9.15 percent.

Fourth installment of advance tax

The last date for payment of the fourth installment of advance tax for the financial year 2023-24 is March 15.

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SBI FD: Interest rates on SBI FD

7 days to 45 days – 3.00%

180 days to 210 days – 5.25%

More than 211 days but less than 1 year – 5.75%

More than 1 year but less than 2 years – 6.80%

More than 2 years but less than 3 years – 7.00%

More than 3 years but less than 5 years – 6.50%

Above 5 years and up to 10 years – 6.50%

400 days Amrit Kalash Deposit Scheme – 7.10%

Senior citizens will get extra interest

Senior citizens get 0.50 percent more interest on all these FD schemes. 1 percent more interest is available on schemes for more than 5 years and up to 10 years.

You will get this much return on investment of Rs 5 lakh

If you want to deposit Rs 5 lakh in SBI FD, then your amount will increase by this much in 1, 2, 3, 5 and 10 years. This is the complete calculation..

With 5.75% interest on FD up to 1 year – Rs 5,29,376

With 6.80% interest on FD up to 2 years – Rs 5,72,187

With 7.00% interest on FD up to 3 years – Rs 6,15,720

With 6.50% interest on FD up to 5 years – Rs 6,90,210

With 6.50% interest on FD up to 10 years – Rs 9,52,779

Senior citizens will get this much return on SBI FD

FD up to 1 year with 6.25% interest – Rs 5,31,990

With 7.30% interest on FD up to 2 years – Rs 5,77,837

With 7.50% interest on FD up to 3 years – Rs 6,24,858

With 7.00% interest on FD up to 5 years – Rs 7,07,389

FD up to 10 years with 7.50% interest (SBI Care FD Scheme) – Rs 10,51,175

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SBI FD vs Post Office TD: Despite many options available in the market, investors still prefer to invest money in fixed deposit schemes. In such a situation, if you are thinking of investing in either the FD scheme of Post Office or SBI, then we are telling you about the interest rate available in both the schemes for a period of two years.

SBI is offering 7 percent interest rate to its general customers on fixed deposit scheme for a tenure of 2 to 3 years. During this period, 7.50 percent interest rate is being offered to senior citizens.

Under SBI’s special FD scheme Amrit Kalash Scheme, general customers are getting the benefit of 7.10 percent interest rate on 400 day FD and senior citizens are getting 7.60 percent interest rate.

Under the time deposit scheme of the post office, customers are getting the benefit of 6.90 percent interest rate on the tenure of 1 year.

At the same time, the benefit of 7.00 percent interest rate is available for FD of two years and 7.00 percent for FD of 3 years also.

In such a situation, the same interest rate is available on SBI and Post Office FD for a period of 2 years. Under SBI Amrit Kalash Scheme, you will get the benefit of higher interest rate of 7.10 percent. Along with this, senior citizens are getting the benefit of additional 0.50 percent interest in SBI.

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Fixed Deposit ie FD is considered a better option for safe investment. During the last few months, attractive interest rates on deposits have increased the interest of investors. Today we will tell you on whom it is better to bet in post office and SBI deposits.

Talking about the post office term scheme, it comes under the ambit of small savings scheme. Under this scheme, the interest rates have been increased by the government. The return on the two-year post office time deposit is 6.9 per cent, which is higher than that offered by most banks on similar maturity deposits. The interest rate on the three-year post office time deposit has been increased to 7 percent.

term interest rate
1 year – 6.8%
2 years – 6.9%
3 years – 7.0%
5 years – 7.5 %

State of SBI FD: General customers are getting 3% to 7.1% interest on SBI FD between 7 days to 10 years. Senior citizens get 50 bps additional interest rate on deposits. The interest rate offered by SBI on deposits of one year to less than two years is 6.8 percent. The interest rate on deposits of two years to less than three years is 7 percent. These rates are effective from February 15.

7-45 days – 3% interest
46-179 days – 4.5%
180-210 days – 5.25%
211 days – less than 1 year – 5.75%
1 year – less than 2 years – 6.8%
400 days (Amrit Kalash) – 7.10%
2 years – less than 3 years – 7.00%
3 years – less than 5 years – 6.5%
5 years – up to 10 years – 6.5%

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SBI FD

The 400-day (Amrit Kalash Tenure Scheme) was introduced by the country’s largest lender State Bank of India (SBI) on February 15, 2023, with an interest rate of 7.60 per cent for senior citizens and 7.10 per cent for the general public. According to SBI, this exclusive offer is still available till March 31, 2023.

HDFC FD

HDFC Bank has launched a special Fixed Deposit “Senior Citizen Care FD” for senior citizens on May 18, 2020. This program ends on March 31, 2023. In addition to the current charge of 0.50%, HDFC Bank promises to charge senior citizen customers who register fixed deposits of less than 5 crores at an additional premium of 0.25% for a period of five years and one day to 10 years. Want to. For HDFC Senior Citizen Care FD, the bank offers an interest rate of 7.75% to senior citizens, which is 75 basis points (bps) higher than the standard rate of 7%.

Indian Bank FD

Public sector lender Indian Bank has launched a unique retail fixed deposit called “Ind Shakti 555 Days” with higher interest rates for both general public and senior citizens on December 19, 2022 which is valid till March 31.

IDBI Bank FD

Private sector lender IDBI Bank launched a special fixed deposit “IDBI Naman Senior Citizen Deposit” for senior citizens on April 20, 2022. The duration of the program ranges from more than one year to ten years, and is available till the end of March 2023.

Punjab and Sind Bank FD

This public sector lender is offering customers four exclusive fixed deposit programs namely PSB Fabulous 300 Days, PSB Fabulous Plus 601 Days, PSB e-Advantage Fixed Deposit and PSB-Utkarsh 222 Days. All these programs of Punjab and Sind Bank will come to an end on March 31, 2023, according to the lender’s official website.

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The bank has told that the customers will now get a benefit of Rs 40,088. If you are also an SBI customer, then let us tell you how you can take advantage of this. The bank has recently increased the rates of FD (SBI FD).

Can take advantage till March 31

SBI is giving the benefit of 7.1 percent rate on FD of 400 days. With this, there has been an increase of 25 basis points on the amount less than Rs 2 crore. You can take advantage of this till 31 March. Let us tell you how you will get the benefit of Rs 40,088.

You will get extra Rs 40,088

State Bank of India (SBI) has increased the interest rates on its special scheme. If you deposit Rs 5 lakh, you will get Rs 5,40,088 after maturity. Please tell that in this you will get Rs 40,088 as interest. This is your fixed income. You can avail this benefit through any branch.

Till when you can take advantage, you can take advantage of this scheme of State Bank of India till 31st March. If you have not invested in this scheme yet, then you can take advantage of it by investing in this scheme before it ends.

How much profit is being received in 1 year?

Apart from this, if we talk about deposits of less than Rs 2 crore, then the bank has increased 25 basis points on this. SBI’s first 1 year maturity FD is getting 6.75% benefit. Now there has been an increase of 0.05 per cent on this, after which a profit of 6.80 per cent is being received. At the same time, earlier 6.75 percent interest was being received on FD of 2 years and now the benefit of 7 percent interest is being received.

How much profit is being received on 3 and 5 years?

If we talk about FD with maturity of 3 years, earlier it was getting benefit at the rate of 6.25 per cent, while now it will get benefit of 6.50 per cent interest. At the same time, instead of the earlier 6.25 percent, 6.50 percent interest is now being received on FDs with maturity of 5 years. Let us tell you that the new rates of the bank have come into effect from 15 February.

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SBI customers who want to earn on regular basis every month can invest in SBI Annuity Deposit Scheme. Under this scheme, the customers get the same interest as the customers of term deposits. Accordingly, you must be wondering that what is the difference between SBI Fixed Deposit (SBI FD) and SBI Annuity Scheme? You must think the work of both is same. but it’s not like that. The biggest difference between both the schemes is the disbursal of the maturity amount.

In SBI Fixed Deposit, the customer has to deposit money once and withdraw in one go or get maturity money in one go. On the contrary, in SBI annuity plan, the customer may deposit money in one go, but he can withdraw money at fixed intervals during the period of his choice. On this basis, the customer gets an opportunity to earn on a regular basis. In the annuity scheme, the customer gets the money every month just like EMI.

Difference between Fixed Deposit and Annuity

On the basis of the need of the customer, it will be decided whether SBI Fixed Deposit is good or SBI Annuity Scheme. If after a few years you need a lump sum amount, such as for the education of a child or for marriage, then SBI Fixed Deposit is more suitable. Conversely, if you want to earn for everyday expenses like EMI every month after retirement, then the annuity scheme will be right. As SBI says, in an annuity scheme, money is given to the customer every month in the form of EMI, in which both the principal and interest are shared. In the annuity, money will continue to be deposited in your bank account on the last date of the month.

Benefits of SBI FD

The biggest advantage of SBI Fixed Deposit is that you have to deposit money in lumpsum amount at a time, but when the scheme matures, a huge amount gets deposited in your account. The biggest advantage in Fixed Deposit is this maturity amount. You can use this money for some big work. On the other hand, nothing is available in the form of maturity amount in annuity but a fixed income every month.

SBI Annuity Benefits

Suppose you need Rs 1,000 per month for 5 years, then you need to deposit at least Rs 60,000 in SBI annuity scheme. The same money will continue to be deposited every month in your account as EMI after 5 years. You can also take annuity scheme through internet banking. You can transfer funds from your account for the annuity scheme.

In the annuity scheme, the subscriber gets the same interest as the interest on the term deposit. The return in annuity also depends on the number of years for which the scheme is taken. Keep in mind that interest earned in annuity is subject to TDS.

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Recently SBI had said through a tweet, “Let your finance (money) work hard for you. Introducing ‘Utsav’ Deposits with high interest rates on your Fixed Deposits!” Let us know about the Utsav Deposit Scheme.

Utsav Deposit Scheme Tenure
from August 15, 2022 to October 28, 2022

Deposit tenor
1000 days

Eligibility
>> Domestic Retail Term Deposits including NRO Term Deposits (less than Rs 2 crore)
>> New and Renewal Deposits
>> Only Term Deposits and Special Term Deposits

SBI is offering an interest rate of 6.10 per cent per annum on deposits for 1,000 days on the interest rate festival FD scheme. Senior citizens will be eligible to get an additional interest rate of 0.50% over and above the regular rate.

Interest paid
at monthly/quarterly/half yearly intervals on Special Term Deposits- Maturity

TDS
rate applicable as per Income Tax Act

Premature Withdrawals
Applicable as per Retail Term Deposits

SBI Latest FD Rates
SBI is currently offering depositors with interest up to 5.65% for tenures of 5 to 10 years. For senior citizens, the bank is offering interest up to 6.45%. These interest rates are applicable from 13 August 2022.

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