On January 13, IDBI Bank launched a new Fixed Deposit (FD) scheme called the “Chinrajevi Super Senior Citizen FD Scheme.”
This scheme is specifically designed for senior citizens aged 80 years and above.
It offers four different tenure options with higher interest rates for senior citizens compared to regular FD schemes.
Interest Rates and Tenure Options
The interest rates for this scheme are as follows:
7.90% for a 375-day deposit
8% for a 444-day deposit
8.05% for a 555-day deposit
7.85% for a 700-day deposit
These rates are applicable only for the “Utsav FD” scheme duration, and premature withdrawals are allowed.
Utsav FD Scheme Deadline and Rates
IDBI Bank has extended the deadline for its “Utsav Callable FD” scheme. The new 555-day tenure option can be invested in until February 15, 2025.
For other tenures (375 days, 444 days, and 700 days), investments are allowed until March 31, 2025. The interest rates for regular citizens in the Utsav FD scheme are:
7.05% for a 300-day tenure
7.25% for a 375-day tenure
7.35% for a 444-day tenure
7.40% for a 555-day tenure
7.20% for a 700-day tenure
Senior citizens get an additional 0.50% interest on these rates.
Regular Fixed Deposit Interest Rates
For regular Fixed Deposits with IDBI Bank, the interest rates are:
3% for 7 to 30 days
3.25% for 31 to 45 days
4.50% for 46 to 60 days
4.75% for 61 to 90 days
5.50% for 91 days to 6 months
6% for 6 months 1 day to 270 days
6.25% for 271 days to less than 1 year
6.80% for 1 year to 2 years
7% for 2 years to less than 3 years
6.50% for 3 years to 5 years
6.25% for 5 years to 10 years
4.80% for 10 years to 20 years
6.50% for 5 Year Tax Saver FD
