There is excellent news for you if you want to benefit from increasing interest rates on FDs (Bank FD). The unique fixed deposit scheme’s deadline has now been extended by IDBI Bank. Amrit Mahotsav FD, a special program launched by IDBI Bank to provide customers fixed deposits lasting 375 and 444 days, with a deadline of 30 September 2023; however, it has since been extended by one month.
IDBI Bank provided details
Let us inform you that you may now take advantage of higher interest rates on Amrit Mahotsav FDs through October 31. On its website, IDBI Bank announced that the Amrit Mahotsav FD holiday offer has been extended for 375 and 444 days, respectively, through October 31, 2023.
Who is being given how much attention?
The bank has stated that the 7.15 percent interest rate on the 444-day Amrit Mahotsav FD Scheme is available to regular, NRE, and NRO customers. Senior citizens are also receiving interest on this FD at a rate of 7.65% at the same time. Customers also have the option of premature withdrawal and closure.
IDBI Bank FD – Interest on a 375-day period
Interest is paid on fixed deposits with a special term of 375 days to general customers at a rate of 7.10 percent. In addition, fixed deposits from this era pay interest at a rate of 7.60 percent to elderly persons.
Current FD rates at IDBI Bank:
07-30 days – 3%
31-45 days – 3.25%
46- 90 days – 4%
4.5% from 91-6 months
sixty days 5.75% from one day to 270 days
71 days to one year: 6.25 percent
1 to 2 years (with the exception of 375 and 444 days) – 6.8%
> 6.5% from 2 to 5 years
> 6.25% from 5 to 10 years
> 4.8% from 10 to 20 years
5. Year FD Tax Savings: 6.5%
What level of interest is being expressed?
The interest rates on IDBI Bank’s FDs have been modified. The bank’s website states that these rates will be in effect starting on September 15, 2023. On FDs with maturities between seven days and five years, IDBI Bank is providing general consumers 3% to 6.8% interest, and senior citizens 3.5% to 7.3%.
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