IDBI Bank special fixed deposit last date extended; hikes FD interest rate by 10 bps on this tenure

According to the IDBI Bank website, the bank has lengthened the validity period for Utsav FDs by 375 days and 444 days, while also increasing the fixed deposit rate by 10 basis points (bps). The extended deadline for these special fixed deposits is now March 31, 2024, previously set at December 31, 2023. As per the IDBI Bank website, it mentioned, “The ‘Utsav FD’ for 375 Days and 444 Days is extended up to March 31, 2024”. The bank offers senior citizens an interest rate of 7.65%.

A 7.10% interest rate is provided to normal, NRE, and NRO customers under the 375-day Amrit Mahotsav FD scheme. Furthermore, premature withdrawal and closure are permissible. The interest rates have been lifted by 10 basis points on this tenure, affording common, NRE, and NRO clients a 7.25% rate, an increase from the previous 7.15% under the 444-day Amrit Mahotsav FD plan. Elderly clients are offered 7.75% in contrast to the former 7.65%. Premature withdrawal and closure are still acceptable.

General citizens can receive fixed deposit interest rates between 3% and 7% for FD periods ranging from 7 days to 10 years at IDBI Bank. For senior citizens, these rates range from 3.50% to 7.50%. The revised rates were implemented from November 12, 2023.