IDBI Bank cuts FD rates across special deposit, extends Utsav fixed deposit deadline Interest rates have been reduced for general depositors, senior citizens, and super senior citizens across key tenures like 444, 555, and 700 days
IDBI Bank has announced a revision in its fixed deposit (FD) interest rates and extended the deadline for its special fixed deposit scheme - Utsav Deposit. Earlier, the last date to invest in this scheme was April 30, 2025, but now investors have additional time to take advantage of the offering, albeit at slightly reduced interest rates.#sr_widget.onDemand p, #stock_pro.onDemand p{font-size: 14px;line-height: 1.28;} .onDemand .live_stock{left:17px;padding:1px 3px 1px 5px;font-size:12px;font-weight:600;line-height:18px;top:9px} #sr_widget.onDemand .sr_desc{margin:0 auto 0;} #sr_widget.onDemand .sr_desc{color: #024d99;margin-top:10px;} #sr_widget.onDemand .crypto .live_stock .lb-icon{8px 6px 5px 3px !important} #sr_widget.crypto.onDemand a.text{border-bottom:1px solid #ccc;padding-bottom:5px;display:block;width:100%} #sr_widget.onDemand .sr_desc .text p, #stock_pro.onDemand .sr_desc .text p{font-size:12px;font-weight:400;}
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As part of the latest update, the bank has discontinued two special FD tenures—300 days and 375 days—under the Utsav Deposit scheme. Simultaneously, it has reduced interest rates across key tenures, affecting general depositors, senior citizens, and super senior citizens under its IDBI Chiranjeev FD plan.
Also read: Now ICICI Bank cuts FD, savings account interest rates; check details
For the 444-day tenure, the rate for general customers has been reduced from 7.35% to 7.25%, for senior citizens from 7.85% to 7.75%, and for super senior citizens (under the IDBI Chiranjeev FD) from 8% to 7.90%. For the 555-day tenure, the rate for general customers is now 7.30%, down from 7.40%. Senior citizens will get 7.80%, reduced from 7.90%, and super senior citizens will receive 7.95%, down from 8.05%. On the 700-day tenure, the interest rate for general customers has been cut from 7.20% to 7%, for senior citizens from 7.70% to 7.50%, and for super senior citizens from 7.85% to 7.65%.
SBI cuts FD interest rates on select tenures; introduces revised ‘Amrit Vrishti’ scheme with lower interest rates
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Latest IDBI Bank FD interest rates
Interest Rate (% p.a.)Special BucketsGeneral/NRE/NROSenior Citizens444 Days7.257.75555 Days7.37.8700 Days77.5
IDBI Bank latest FD rates
IDBI Bank offers interest rates between 3% to 7% (excluding special deposits) for general citizens for deposits less than Rs 3 crore. For senior citizens, the bank offers between 3.50% to 7.50% for tenures between 7 days and 10 years. The revised rates are effective from April 16, 2025.
Interest Rate (% p.a.)Retail Term Deposits (Maturity SlabGeneral CustomersSr. Citizen0-6 DaysNANA07-30 days33.531-45 days3.253.7546- 60 days4.5561- 90 days4.755.2591 days to 6 months5.566 months 1 day to 270 Days66.5271 days to 6.256.751 Year to 2 Years6.87.3(except 444 Days, 555 days & 700 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
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This story originally appeared on: India Times - Author:Faqs of Insurances
