After the increase in the repo rate by the Reserve Bank, one by one all government and private banks are increasing the interest rate on Fixed Deposits. In this connection, IDBI Bank, which is going to be private, has also increased the interest on FDs.
The bank is now getting a bumper interest of 8 per cent on term deposits of less than 2 years. Recently the bank has updated the interest received on Fixed Deposits. According to the information available on the website of IDBI Bank Bank, interest has increased on Amrit Mahotsav FD from February 13.
Amrit Mahotsav is getting interest up to 8 percent on FD
IDBI Bank’s Amrit Mahotsav FD is of 444 days and 700 days. This is a special FD scheme. For general public, now 7.15 percent interest is being received on term deposits of 444 days. 7.9 percent interest is being given to senior citizens. Now the interest rate for general public on FD of 700 days is 7.25 percent. 8 percent interest is being offered to senior citizens.
How much interest is being received on Retail Term Deposits now
IDBI Bank has also increased the interest rate on Retail Term Deposits from February 13. According to the information available on the website of IDBI Bank, the interest rate has been increased to 3 percent for a period of 7-30 days on retail term deposits of less than 2 crores. The interest rate for 31-45 days has gone up to 3.35 per cent. 4.25% interest on term deposits of 46-90 days, 4.75% interest for 91 days to 6 months, 5.50% interest rate on FDs from 6 months to less than 1 year.
6.25% interest is being received on 5-year FD
6.75% on FDs of 1 year to 2 years (except 444 and 700 days), 6.50% on FDs of more than 2 years and less than 3 years, 6.25% on FDs of 3 years to less than 5 years, 5 Interest is being given on FDs of 6.25 per cent for one year, 6.25 per cent for more than 5 years, 6.25 per cent for more than 7 years and up to 10 years and 4.80 per cent for FDs of more than 10 years and up to 20 years.
Benefits will continue on IDBI Naman Senior Citizen Deposit
The minimum interest rate for senior citizens is 3.50 percent and the maximum rate is 7.50 percent. Senior citizens will continue to get the benefit of additional 75 basis points under IDBI Naman Senior Citizen Deposit. This includes the additional benefit of 50 basis points available to senior citizens. The benefit of 25 basis points will be available separately. This scheme will be valid till 31 March 2023.
