Key Financial Deadlines in March 2025: Special FDs, ITR, and More

As the financial year comes to a close on March 31, 2025, it’s essential to complete crucial financial tasks to maximize savings, lock in favorable fixed deposit (FD) rates, and activate your UAN for EPF-linked insurance benefits. Here’s a rundown of the important deadlines you shouldn’t miss this March.

Special Fixed Deposits (FDs)

The recent reduction in the Reserve Bank of India’s (RBI) repo rate from 6.50% to 6.25% has prompted banks to lower their FD interest rates. If you want to secure higher returns, now is the time to invest.

• SBI Amrit Vrishti FD: Offers 7.25% interest for general citizens and 7.75% for senior citizens with a tenure of 444 days.
• Indian Bank’s IND Supreme & IND Super FDs: Super senior citizens can earn up to 8.05% interest on tenures of 300 and 400 days.

The last date to invest in these special FDs is March 31, 2025.

Tax-Saving Investments

For those following the old income tax regime, there’s still time to reduce taxable income by investing in tax-saving instruments before March 31, 2025. Eligible options include:

• National Pension System (NPS)
• Employees’ Provident Fund (EPF)
• Public Provident Fund (PPF)
• Tax-saving Fixed Deposits (5-year lock-in)
• Equity Linked Savings Scheme (ELSS)

Making timely investments can help you optimize tax benefits and boost long-term savings.

ITR Filing or Updation

If you’ve missed reporting income or made errors in your Income Tax Return (ITR), you can still correct them by filing an updated return (ITR-U).

The deadline for submitting ITR-U for the relevant assessment year is March 31, 2025. Ensure compliance to avoid penalties and interest charges.

UAN Activation for EPF-Linked Insurance (ELI)

Your Universal Account Number (UAN) is essential for managing your EPF account online. EPF members are eligible for insurance coverage of up to Rs 7 lakh under the Employees’ Deposit Linked Insurance (EDLI) scheme. However, UAN activation is a prerequisite.

The deadline for activating your UAN to avail of this benefit is March 15, 2025.

Final Thoughts

March 2025 brings several key financial deadlines that can impact your savings and tax obligations. Whether it’s securing high FD rates, investing in tax-saving options, or ensuring compliance with tax and EPF regulations, acting before the deadlines can help you make the most of your finances.

Stay proactive and complete these essential tasks before time runs out!