Several banks have offered higher interest rates to encourage more people to save money in fixed deposits. Recently, IDBI Bank IDBI Bank has increased its fixed deposit interest rates for certain periods under the Utsav Fixed Deposit scheme. IDBI Bank is offering interest rates up to 7.85% on fixed deposits for certain periods. This Fixed Deposit scheme is an attractive alternative to the SBI Fixed Deposit scheme. Amrit Kalash Scheme which offers interest rates of 7.10%, and 7.60% for seniors.
IDBI Utsav Fixed Deposit Scheme with Call Option
The bank offers interest rates of 7.05% for a certain amount of fixed deposits with a tenor of 300 days (7.55% for senior citizens). Customers can avail interest rates of 7.25% for 375 days tenor (7.75% for senior citizens). IDBI Utsav FD scheme offers interest rates of 7.05% to 7.20% for adults and 7.55% to 7.70% for Elderly people under different ownerships.
Clients can also make early withdrawals and close their accounts. FD Scheme before completion of tenure. Senior citizens are not eligible to avail NRO and NRE term deposits. Customers can open their Utsav Fixed Deposit by visiting the IDBI website or logging in through the mobile banking app.
SBI Amrit Kalash FD Rates
“The specific term plan of “400 days” (Amrit Kalash) at an interest rate of 7.10% with effect from April 12, 2023. Senior citizens are eligible for an interest rate of 7.60%. The plan will be valid till September 30, 2024.”
Below is a comparison between the two FD interest rate schemes.
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