IDBI Bank FD Rates
The bank now offers a 3.00% interest rate on deposits that mature in the next 7 to 30 days, while IDBI Bank is now offering a 3.35% interest rate on deposits that mature in the next 31 to 45 days. For deposits maturing in 46 to 90 days, IDBI Bank is now offering an interest rate of 4.25%, while for deposits maturing in 6 months 1 day to 270 days, IDBI Bank is now offering an interest rate of 5.25%. Deposits that mature in 271 days to less than a year will now earn interest at a rate of 5.50%, while those that mature in a year to 2 years will now earn interest at a rate of 6.75%. The bank is now giving an interest rate of 6.50% on FDs maturing in 2 to 3 years, while IDBI Bank is also offering an interest rate of 6.25% on FDs maturing in 3 to 10 years.
For senior citizens, the bank provides the Naman Senior Citizen Deposit special retail term deposit scheme. This program's previous expiration date was set for December 31, 2022, however, IDBI Bank has now extended it to March 31, 2023. Residents who are senior citizens will receive an additional interest rate of 0.25% over and above the existing additional rate of 0.50% each year under this unique fixed deposit programme, giving them a total advantage of 0.75% over the regular rate. The deposit must be made for a time period of more than one year and up to ten years to be eligible for this incredible senior citizen advantage in terms of interest rates.
Meanwhile, today PNB, Indian Bank and UCO Bank also hiked interest rates on retail fixed deposits of less than ₹2 Cr which is in line with the repo rate hike of RBI by 0.35% from 5.9% to 6.25% in its monetary policy meeting held on December 7, 2022. The interest rates on fixed deposits with maturities ranging from one year to 10 years have increased by as much as 25 bps at UCO Bank. With the statement made today, UCO Bank is now offering deposits with a 666-day maturity at a maximum interest rate of 6.75% for the general public and 7.25% for senior citizens.
PNB increased FD rates by 40 bps on tenors longer than 3 years to 10 years and by 95 bps on 666 days. PNB will start giving a maximum interest rate of 7.25% for the general public, 7.75% for the elderly, and 8.05% for super senior citizens on deposits that mature in 666 days. The "IND SHAKTI 555 DAYS" special fixed deposit account, which has a minimum required amount of Rs. 5000 and an applicable tenor of 555 days with an interest rate of 7.00% for the general public and 7.15% for senior citizens, according to a statement from Indian Bank.
