It is offering the highest interest to customers on FD of 1 year to 2 years. The interest rate for ordinary citizens is 6.80 percent. Whereas the interest rate for senior citizens is 7.30 percent.
Bank FD: Fixed deposit is considered a safe and better option for investment. Many people prefer to invest in FD rather than savings account. This interest also continues to be received, which is determined by the bank. As the festive season approaches, banks have started revising the interest rates on FD. Private sector IDBI Bank has also been included in this list.
Senior citizens are getting more interest
IDBI Bank has changed the interest rate for deposits less than Rs 2 crore. Also a new FD scheme has been launched. Senior citizens are getting 0.50% more interest than ordinary citizens. However, on tenure of 31 to 45 days, ordinary citizens and senior citizens are getting equal interest.
Highest interest being received on deposits for so many days
The bank is offering the highest interest on FD of 1 year to 2 years. The interest rate for ordinary citizens is 6.80 percent. Whereas the interest rate for senior citizens is 7.30 percent. Whereas on fixed deposits of 2 to 5 years, general citizens are getting 6.50% interest and senior citizens are getting 7% interest.
Interest rates for other FDs
3% on FDs of 7 to 30 days, 4% on FDs of 46 to 90 days, 4.50% on tenures from 91 days to 6 months, 5.75% on Fixed Deposits of 6 months 1 day to 270 days, 271 days to 1 Ordinary citizens are getting 6.25% interest on fixed deposits of less than Rs 1000 and 6.25% interest on FD of 5 to 10 years.
