IDBI Bank extends two special FD schemes’ deadlines

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IDBI Bank has extended the validity dates for two of its special fixed deposit programmes. IDBI Bank has extended IDBI Naman Senior Citizen Deposit and the Amrit Mahotsav FD schemes, from October 31, 2022 to December 31, 2022, according to its website.
IDBI Naman Senior Citizen Deposit

IDBI Bank offers an additional interest rate of 0.25% over and above the current additional rate of 0.50% per year under the IDBI Naman Senior Citizen Deposit Scheme, for a total benefit of 0.75% above the card rate. This plan’s validity is now extended to December 31, 2022 from October 31, 2022. However, the tenure should be greater than 1 year up to 10 years.. The additional rate will be available on fresh deposits opened as well as deposits renewed during the scheme period.

IDBI Bank Amrit Mahotsav FD

IDBI Bank launched a special fixed deposit scheme called “Amrit Mahotsav FD” in August, with a 500-day maturity duration and a limited time offer. The new plan has an interest rate of up to 6.70 percent for resident senior citizens and 6.10% for regular citizens. The Amrit Mahotsav FD Scheme of 500 days is now extended up to 31st December 2022 from October 31, 2022.

According to the website, “#The normal mark-up of 0.50% ONLY will be available for senior citizens and normal mark-up of 1% will be available for Retired Senior Citizens Staff.

Note that Naman Senior Citizen rates are not allowed for ‘Amrit Mahotsav Fixed Deposit’ of 500 days.
The bank raised the interest rates for fixed deposits under 2 crore rupees by 10 basis points. According to IDBI Bank’s website, the new rates are effective from October 11, 2022.

IDBI Bank FD Rates

IDBI Bank fixed deposit interest rates range from 2.70% to 5.80% for FD tenures of between 7 days and 10 years for general citizens and from 3.20% to 6.55% for senior citizens.

IDBI Bank has increased the interest rates on deposits maturing in one year by ten basis points, from 5.60% to 5.70% for regular citizens and for senior citizens now it offers 6.20%.

idbi-fdooct11

Source: Bank website

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