FD interest rate: Earn 8% return on this private bank's fixed deposit - Check details

IDBI Bank FD Interest Rate 2023: Private sector lender IDBI Bank has hiked the interest rate on Fixed Deposits (FD) in line with the repo rate hike announced by Reserve Bank of India (RBI) last week. The bank is now offering 7.25 per cent for the general public and 8 per cent for senior citizens on special deposits with a 700-day term. 

Also read:THESE 4 tips can help you repay dues faster

IDBI Bank FD rate

For retail deposits below Rs 2 crore the bank is offering an interest rate of 3 per cent on fixed deposits maturing in the next 7 to 30 days, for 31 to 45 days, IDBI Bank is now promising an interest rate of 3.35 per cent. The Bank is offering an interest rate of 4.25 per cent on deposits held for 46 to 90 days and pays an interest rate of 4.75 per cent on deposits held for 91 days to 6 months.

Further, for deposits maturing in 6 months 1 day to 1 year will now get an interest rate of 5.50 per cent and those maturing in 1 year to 2 years (except 444 Days and 700 Days) will now fetch an interest rate of 6.75 per cent. Interest rate of 6.50 per cent is provided on fixed deposits maturing in 2 to 3 years, and an interest rate of 6.25 per cent on deposits maturing in 3 to 10 years. IDBI Bank is now guaranteeing an interest rate of 6.25 per cent for the general public and 7 per cent for senior citizens on tax saver fixed deposits for 5 years.

IDBI Bank FD rate: 444 days scheme 

As a special bucket scheme under Amrit Mahotsav FD the bank is providing interest rate 7.15 per cent to the general public for a tenure of 444 days and for the same scheme senior citizens will get 7.90 per cent interest.

IDBI Bank FD rate: 700 days scheme 

If depositors choose the 700 days scheme, then people below the age of 60 years will get an interest rate of 7.25 per cent and senior citizens will get 8 per cent interest on the same scheme. 

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