PSB Special FD Schemes Revised After RBI Repo Rate Cut
Why in the news
State-run banks trimmed or swapped special deposit schemes at the start of the new fiscal year.
| Bank | Scheme | Tenure | Rate | Status |
|---|---|---|---|---|
| Bank of Baroda | Square Drive | 444 days | 7.15% | New, replaces BoB Utsav |
| SBI | Amrit Kalash | 400 days | 7.10% | Withdrawn |
| SBI | Amrit Vrishti | 400 days | 7.10% | Continues |
| Indian Bank | Ind Super | 400 days | 7.30% | Till 30 June 2025 |
| Indian Bank | Ind Supreme | 300 days | 7.05% | Till 30 June 2025 |
| IDBI Bank | Utsav FD | 300/375/444 days | 7.05/7.25/7.35% | Till 30 April 2025 |
Outlook
- Ample liquidity eases pressure to pay top rates; the repo cut makes banks reassess funding costs.
- Short extensions suggest a gradual shift in FY26 deposit strategy.
Exam angle
- Trigger: repo cut, first since 2020.