IDBI Bank has revised interest rates on fixed deposit (FD) with effect from 18 March. The bank offers multiple FD schemes to its customers. After the latest revision, FD interest rates in IDBI Bank range from 2.9 to 5.1% for FDs maturing in 7 days to 20 years. IDBI Bank offers a special interest rate on FDs for senior citizens. Current IDBI Bank FD rates for senior citizens range from 3.4% to 5.6%.
For deposits maturing in 7 to 14 days and 15 to 30 days, IDBI Bank gives 2.9% interest. For 31 to 45 days 3% interest, 46-90 days, 3.25% interest, 91 days to 6 months 3.6% interest.
For FDs maturing in 6 months to up to one year, the bank gives 4.3% interest.
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For deposits maturing in one year to 10 years, IDBI Bank will give 5.1%. And for 10 years to 20 years FDs, the bank will give 4.8%.
Term deposits maturing in 5 years will fetch an interest rate of 5.1%. These deposits are also known as tax-saving FD.
IDBI Bank latest FD interest rates for general customers (less than ₹2 crore) with effect from 18 March
7-14 days 2.9%
15-30 days 2.9%
31-45 days 3%
46- 60 days 3.25%
61-90 days 3.25%
91-6 months 3.6%
6 months 1 day - 270 days 4.3%
271 days up to 1 year 4.3%
1 year 5%
More than 1 year-2 years 5.1%
More than 2 years to less than 3 years 5.1%
3 years to less than 5 years 5.1%
5 years 5.1%
> 5 years - 7 years 5.1%
>7 years - 10 years 5.1%
>10 years - 20 years 4.8%
Private sector lender Axis Bank too revised interest rates on fixed deposits (FDs) with effect from 18 March. Axis Bank offers FDs across different tenures, ranging from 7 days to 10 years.
