IDBI Bank FD Rates: IDBI Bank has revised its fixed deposit (FD) interest rates. The bank has also extended the deadline of its special scheme ‘Utsav Deposit’. Earlier, the last date to invest in this scheme was 30 April 2025, which has now been extended. However, this time the interest rates have been cut some cuts, which will give customers a little lower returns.
Change in ‘Festive Deposit’ scheme
IDBI Bank has closed two FDs of 300 days and 375 days under this special FD scheme. Also, the famous FD scheme of the current time period has also cut interest rates on 444 days, 555 days and 700 days.
444 day FD
Interest rate for normal customers decreased from 7.35% to 7.25%
7.85% to 7.75% for senior citizens
For Super Senior Citizen (IDBI Chiranjeev FD) declined from 8% to 7.90%
555 days FD
The normal customers have come down from 7.40% to 7.30%.
Senior citizens have come down from 7.90% to 7.80%.
Super senior citizens have come down from 8.05% to 7.95%.
700 days FD
For normal customers, it has come down from 7.20% to 7%.
Senior citizens have come down from 7.70% to 7.50%.
Super senior citizens have come down from 7.85% to 7.65%.
Interest rates on general FD (on deposit less than Rs 3 crore)
IDBI Bank is now giving interest rates ranging from 3% to 7% to general customers. Senior citizens will get interest from 3.50% to 7.50% on these periods. These new rates have come into force from 16 April 2025. Senior citizens get 0.50 percent more interest than normal customers.
IDBI Bank’s interest rates on regular FD
91-6 months 4.50%
6 months 1 day to 1 year less than 5.75%
From 1 year to 2 years (except 375 days and 444 days) 6.80%
2 years to 5 years 6.50%
5 years to 10 years 6.25%
10 years to 20 years 4.80%
What is the effect?
It is clear from this revision that the major banks of the country are now moving towards low interest rates. This may cause a slight shock to the customers who expect safe and certain returns in FDs. Also, those who were thinking of investing in IDBI’s special ‘Utsav Deposit’ scheme, now have a little more time, but with a little lower interest rate. In view of RBI’s monetary policy and economic conditions, further changes in interest rates are possible.
Bank Holiday: Banks will be open on Saturday, learn the full list of RBI here tomorrow