Senior Citizens FD Rate: IDBI Bank has introduced special rates on FDs and revised fixed deposit interest rates for amounts below Rs 2 crore, according to the IDBI Bank website.
According to the IDBI Bank press release, “IDBI Bank has introduced a special bucket of “Amrit Mahotsav FD for 375 days” offering a peak rate of 7.60% p.a. valid till August 15, 2023. Besides this, existing “Amrit Mahotsav FD for 444 days” under callable option offers a peak rate of 7.65% p.a. and under non-callable option offers a peak rate of 7.75% p.a.”
Amrit Mahotsav FD” for 375 Days
The new scheme of 375 days is effective from July 14, 2023 and valid up to August 15, 2023. The interest rate structure is as under:
| Special Buckets | General/NRE/NRO | Senior Citizens | |
| 375 Days | 7.1 | 7.6 | |
| 444 Days | 7.15 | 7.65 | |
Note that premature withdrawal, closure is permitted
IDBI Special Non-callable option FD” scheme for 444 Days
The interest rate structure of special limited period offers of Non-Callable variants in 444 days:
| Special Bucket | General/NRE/NRO | Senior Citizens |
| 444 Days | 7.25 | 7.75 |
Non-callable FD Terms and Conditions
- Non-Callable Deposits- “No early withdrawal or closure permitted.
- Premature withdrawal may be permissible under unusual circumstances, such as when directed by judicial, statutory, or regulatory authorities, or when settling a deceased claim.
- NRO and NRE term deposits do not qualify for staff or senior citizen rates.
IDBI Bank revises FD interest rates
IDBI Bank revised fixed deposit interest rate for deposits below Rs 2 crore. It offers interest rate between 3% to 6.80% to general citizens.
| Maturity | General Customers | Sr. Citizen |
| 0-6 Days | NA | NA |
| 07-30 days | 3 | 3.5 |
| 31-45 days | 3.25 | 3.75 |
| 46- 90 days | 4 | 4.5 |
| 91-6 months | 4.5 | 5 |
| 6 months 1 day to < 1 year | 5.75 | 6.25 |
| 1 Year to 2 Years | 6.8 | 7.3 |
| (except 375 Days and 444 Days) | ||
| > 2 Years to 5years | 6.5 | 7.00 |
| > 5 years to 10 years | 6.25 | 6.75 |
| >10 years to 20 years$ | 4.8 | 5.30 |
| Tax Saving FD | ||
| 5 years | 6.5 | 7 |
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