IDBI Bank offers 7.6% interest rate on this special FD

IDBI Bank has increased the rate of interest on deposits and now offers interest on 700 days tenure, according to a press release issued by the bank.

According to the bank’s press release, “IDBI Bank offers 7.60% interest on Retail Amrit Mahotsav Deposit. IDBI Bank has enhanced rate of interest on deposits and now offers interest up to 7.60% for just 700 days, as a limited period offer, effective from December 26, 2022."

General Terms and Conditions for Amrit Mahotsav deposits

• Premature withdrawal / closure permitted.
• Naman Senior Citizen rates are not allowed.
• Staff & Senior Citizen Rates are not applicable to NRO & NRE term Deposits.
• All other features of term deposit as well as terms and conditions shall remain unchanged and are applicable for the above scheme also.

IDBI Bank FD interest rate
The bank revised its FD interest rates with effect from December 19, 2022 for amounts below Rs 2 crore. After the revision, the interest rate offered for regular citizen varies between 3% to 6.75% for tenure ranging between 7 days to 10 years. For senior citizens, the bank offers interest rate between 3.5% to 7.50% for tenure ranging from 7 days to 10 years.

	General Customers	Sr. Citizen
0-6 Days	NA	NA
07-14 days	3	3.5
15-30 days	3	3.5
31-45 days	3.35	3.85
46- 60 days	4.25	4.75
61-90 days	4.25	4.75
91-6 months	4.5	5
6 months 1 day to 270 days	5.25	5.75
271 days up to< 1 Year	5.5	6
1 Year	6.75	7.25
> 1 Year to 2 Years	6.75	7.50#
> 2 Years to < 3 Years	6.5	7.25#
3 Years to < 5 Years	6.25	7.00#
5 Years	6.25	7.00#
> 5 Years to 7 Years	6.25	7.00#
>7 Years to 10 Years	6.25	7.00#
>10 Years to 20 Years$	4.8	5.30
	Tax Saving FD
5 Years	6.25	7.00#

IDBI Naman Senior Citizen Deposit
Residents who are senior citizens will receive an increased interest rate of 0.25% on top of the existing additional rate of 0.50% per year (total mark-up 0.75% over Card Rate). RTD tenures should be greater than one year and up to ten years. The scheme's validity has been extended until March 31, 2023.

During the scheme term, the higher rate will be offered on new deposits as well as those renewed.