IDBI Bank provides interest rates ranging from 3% to 7% on FDs maturing in seven days to five years to regular clients, and 3.5% to 7.5% to the senior citizens on callable deposits for amounts below Rs 2 crore

IDBI Bank revises FD rates: These investors can get 7.25% on 444-day fixed deposit tenure

IDBI Bank has revised the interest rates on its term deposits. According to the bank's website, these rates will come into effect on February 15, 2024. IDBI Bank provides interest rates ranging from 3% to 7% on FDs maturing in seven days to five years to regular clients, and 3.5% to 7.5% to the senior citizens on callable deposits for amounts below Rs 2 crore.

IDBI Bank will levy a penalty of 1%, on the applicable rate for deposits closed prematurely. Such closures include the withdrawals through sweep-ins and partial withdrawals as well.

Latest IDBI Bank FD interest rate

Maturity SlabGeneral CustomersSr. Citizen0-6 DaysNANA07-30 days33.531-45 days3.253.7546- 60 days4.254.7561- 90 days4.5591 days to 6 months5.255.756 months 1 day to 270 Days5.756.25271 days to 6.256.75(except 300 Days)1 Year to 2 Years6.87.3(except 375 Days and 444 Days)> 2 Years to 7 7.503 years to 5 years6.57>5 years to 10 years6.256.75>10 years to 20 years$4.8 5.30 Tax Saving FD5 years6.57

Special deposit- Utsav

Utsav Callable FD offers higher interest rates on special tenure of 300 days, 375 days and 444 days offering interest rates of 7.05%, 7.10% and 7.25% respectively. This is valid till March 31, 2024. .live_stock{left:17px;padding:1px 3px 1px 5px;font-size:10px;font-weight:500;line-height:18px;} #sr_widget .sr_desc{margin:0 auto 0;} #sr_widget .sr_desc{color: #024d99;}
Investors looking for twin engines of quality and growth.
Special BucketsGeneral/NRE/NROSenior Citizens300 Days7.057.55 375 Days7.17.6 444 Days7.257.75

Special Non-Callable Retail Term Deposits

On special non-callable retail term deposits, the bank offers interest rate between 5.35% to 7.30% for general citizens for tenure ranging from 91 days to 7 years for deposits between 1 crore to Rs 2 crore.

Special BucketGeneral/NRE/NROSenior Citizens91 days - 6 months5.355.856 month 1 days to 270 days5.856.35271 days 6.356.851 Year7.157.65>1 Year to 2 Years6.957.45(excluding 444 days)444 Days7.37.8>2 Years to 7.17.63 Years to 5 Years6.67.1>5 Years to 7 Years6.356.85

This story originally appeared on: India Times - Author:Faqs of Insurances