IDBI Launches New Amrit Mahotsav FD Scheme - Check Interest Rate, Maturity Period, And Other Details

New Delhi: The private sector lender IDBI Bank has adjusted its interest rates for fixed deposits under 2 crore. On April 1st, 2023, the new rates will take effect, according to the bank's official website. The "Amrit Mahotsav FD" scheme, which offers yields of 7.65 percent for senior people and 7.15 percent for the general public, was introduced by the bank.

For deposits expiring in 7 days to 10 years, the bank now guarantees interest rates of 3 percent to 6.25 percent for the general public and 3.5 percent to 6.75 percent for senior citizens. (Also Read: Latest FD Rates 2023: HDFC vs ICICI vs Axis Bank Fixed Deposit Rates Compared)

The bank now offers a 3.0 percent interest rate on fixed deposits with maturities between 7 and 30 days, while IDBI Bank now offers a 3.3 percent interest rate on deposits with maturities between 31 and 45 days. (Also Read: ICICI Bank Special FD Ending On This Date Of April; Check Calculator And Other Key Details)

For deposits maintained for 46 to 90 days, IDBI Bank now offers an interest rate of 4.25 percent, and for deposits held for 91 to 6 months, the interest rate is 4.75 percent.

Deposits with maturities of 6 months, 1 day to 1 year will earn interest at a rate of 5.5 percent, and those with maturities of 1 year to 2 years (apart from 444 Days) will earn interest at a rate of 6.75 percent.

Currently, the bank offers a 6.5 percent interest rate on fixed deposits with a maturity of two to three years, while IDBI Bank offers a 6.25 percent interest rate on deposits with a maturity of three to ten years.

IDBI Bank promises an interest rate of 6.25 percent for the general public and 6.75 percent for elderly persons on tax-saving fixed deposits of five years.