IDBI Bank extends special FD deadline, hikes interest rate, adds new fixed deposit tenure

IDBI Bank has extended the special deposit fixed deposit dubbed as Utsav Callable FD deadline from June 30, 2024. The bank has also added new tenure and increased FD interest rate by 5 basis points on select special FDs.

What is the latest deadline for Utsav Callable FD

IDBI Bank has extended the validity date for special FD deadline to September 30 from June 30, 2024. IDBI Bank has extended the validity date for Utsav FDs for special buckets tenures of 300 Days, 375 Days, and 444 Day. The new tenure added to the list is 700 days.

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Interest rate of Utsav callable fixed deposits

To general citizens, the bank offers 7.05% on Utsav FDs maturing in 300 days. Meanwhile, senior citizens get 7.55% on Utsav FDs of 300 days. For Utsav FDs maturing in 375 days, the bank offers an interest rate of 7.15% (earlier 7.1%). Senior citizens can earn 7.65% for Utsav FDs maturing in 375 days (earlier 7.6%).

Special Buckets	General/NRE/NRO	Senior Citizens
300 Days	7.05	7.55
375 Days	7.15	7.65
444 Days	7.25	7.75
700 Days	7.2	7.7

UTSAV FD details

Tenure of 300 Days not applicable for NRE Deposits. Premature withdrawal and closure is allowed under the scheme. All other features of term deposit as well as terms and conditions shall remain unchanged and are applicable for the above scheme also.

Latest IDBI Bank FD interest rates

IDBI Bank has revised fixed deposits interest rates for amounts less than Rs 3 crore. The rates are effective from June 18.

Retail Term Deposits (< 3 Cr)
Maturity Slab	General Customers	Sr. Citizen
0-6 Days	NA	NA
07-30 days	3	3.5
31-45 days	3.25	3.75
46- 60 days	4.5	5
61- 90 days	4.75	5.25
91 days to 6 months	5.5	6
6 months 1 day to 270 Days	6	6.5
271 days to < 1 year	6.25	6.75
(except 300 Days)
1 Year to 2 Years	6.8	7.3
(except 375 Days,444 Days & 700 Days)
> 2 Years to <3years	7	7.50
3 years to 5 years	6.5	7
>5 years to 10 years	6.25	6.75
>10 years to 20 years$	4.8	5.30
Tax Saving FD
5 Years	6.5	7