Special fixed deposits offering up to 8.5% – Compare interest rates

financialexpress.com:

Fixed deposits have long been a popular investment choice for risk-averse investors. A variation of this traditional financial instrument is known as special fixed deposits. These deposits offer unique features and potential benefits.

Special fixed deposits (SDFs) are a type of fixed deposit offered by banks that typically give higher interest rates than regular fixed deposits. These are often customised to cater to specific groups of investors such as senior citizens or those with large deposits. SDFs may also have other features, such as the option to choose your interest payment frequency or the ability to withdraw your money before maturity without penalty. However, this may vary from bank to bank.

Some common characteristics of special fixed deposits include:

Special fixed deposits often provide higher interest rates compared to standard fixed deposits. This can be particularly attractive to investors seeking enhanced returns on their savings. For those seeking a regular income stream, special fixed deposits with customised interest payout frequencies might be suitable.

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Banks may offer special fixed deposits with flexible tenure options, allowing investors to choose the duration that best aligns with their financial goals.

Depending on the bank’s terms, investors might have the option to receive interest payouts on a monthly, quarterly, or annual basis, providing a regular income stream.

Some special fixed deposit schemes may offer additional interest rates or benefits for senior citizens, catering to their specific needs. Seniors looking for higher returns and specific benefits might find certain special fixed deposit schemes tailored