Following the rate hikes by lenders, IDBI Bank has also raised its interest rate on fixed deposits below Rs 2 crore, with effect from December 19. It offers 7.60 per cent interest on Retail Amrit Mahotsav Deposit, the bank said in a statement.
According to the statement, “IDBI Bank offers 7.60 per cent interest on Retail Amrit Mahotsav Deposit. IDBI Bank has enhanced rate of interest on deposits and now offers interest up to 7.60 per cent for just 700 days, as a limited period offer, effective from December 26, 2022.”
After the revision, IDBI Bank is currently offering interest rates to regular citizen ranging from 3 per cent to 6.75 per cent on tenure ranging between 7 days and 10 years. For senior citizens, the bank offers interest rate between 3.5 per cent to 7.50 per cent for tenure ranging from 7 days to 10 years.
Here are the revised interest rates on fixed deposits less than Rs 2 crore at IDBI Bank (per annum) effective from December 19:
7 days to 6 days: For General Public – NA; For Senior Citizens – NA
7 days to 14 days: For General Public – 3.00 per cent; For Senior Citizens – 3.50 per cent
15 days to 30 days: For General Public – 3.00 per cent; For Senior Citizens – 3.50 per cent
31 days to 45 days: For General Public – 3.25 per cent; For Senior Citizens – 3.85 per cent
46 days to 60 days: For General Public – 4.25 per cent; For Senior Citizens – 4.75 per cent
61 days to 90 days: For General Public – 4.25 per cent; For Senior Citizens – 4.75 per cent
91 days to 6 months: For General Public – 4.50 per cent; For Senior Citizens – 5.00 per cent
6 months 1 day to 270 days: For General Public – 5.25 per cent; For Senior Citizens – 5.75 per cent
271 days up to less than 1 year: For General Public – 5.5 per cent; For Senior Citizens – 6.00 per cent
1 Year: For General Public – 6.75 per cent; For Senior Citizens – 7.25 per cent
More than 1 Year to 2 years: For General Public – 6.75 per cent; For Senior Citizens – 7.50 per cent
2 years 1 day to less than 3 years: For General Public – 6.50 per cent; For Senior Citizens – 7.25 per cent
3 years to less than 5 years: For General Public – 6.25 per cent; For Senior Citizens – 7.00 per cent
5 years: For General Public – 6.25 per cent; For Senior Citizens – 7.00 per cent
More Than 5 years to 7 years: 6.25 per cent; For Senior Citizens – 7.00 per cent
More Than 7 years to 10 years: 6.25 per cent; For Senior Citizens – 7a.00 per cent
More Than 10 years to 20 years: 4.80 per cent; For Senior Citizens – 5.30 per cent.
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