IDBI Bank’s Special FD Scheme Update: IDBI Bank has made an announcement about their Special Fixed Deposit (FD) scheme.
Back in July, they introduced a special FD plan called the ‘Amrit Mahotsav FD,’ available for 375 and 444-day periods.
Now, IDBI Bank has extended the deadline for this special deposit scheme from September 30th to October 31st.
The bank has also changed the interest rates for fixed deposits of less than Rs 2 crore, and these new rates became effective from September 15th.
IDBI Bank shared on its website that the special Amrit Mahotsav FD festive offer, which was available for 375 and 444 days, has been extended until October 31, 2023.
Here are the current interest rates for IDBI’s Amrit Mahotsav FD Scheme:
If you deposit your money for 375 days, you can earn an interest rate of 7.10% if you’re a regular customer and 7.60% if you’re a senior citizen.
IDBI Bank revised FD rates
IDBI Bank has made changes to the interest rates for its fixed deposits. These new rates started on September 15, 2023.
The bank offers interest rates between 3% and 6.8% for regular customers and 3.5% to 7.3% for senior citizens on fixed deposits that mature in periods ranging from seven days to five years.
The bank pays interest on deposits through various deposit schemes.
They sometimes change the interest rates and share the new rates with the public.
These new rates apply to deposits that are renewed or newly made. Existing deposits will keep earning interest at the rate they were originally agreed upon.
Latest FD rates of IDBI Bank
1. 07-30 days 3%
2. 31-45 days 3.25%
3. 46- 90 days 4%
4. 91-6 months 4.5%
5. 6 months 1 day to 270 days 5.75%
6. 271 days to <1 year 6.25%
7. 1 year to 2 years (except 375 days and 444 days) 6.8%
8. 2 years to 5 years 6.5%
9. 5 years to 10 years 6.25%
10. 10 years to 20 years 4.8%
11. Tax Saving FD 5 Years 6.5%
IDBI Bank Latest FD Interest Rates
At IDBI Bank, if you put your money in a fixed deposit (FD) for any period between 7 days and 10 years, you can earn interest.
For regular customers, the interest rates start at 3% and go up to 6.80%.
If you’re a senior citizen, the rates are a bit higher, starting at 3.50% and going up to 7.30%. These rates started on September 15, 2023.