With effect from March 18, IDBI Bank has updated its fixed deposit (FD) interest rates. Customers can choose from a variety of FD schemes offered by the bank. Following the most recent amendment, IDBI Bank's FD interest rates extend from 2.9 to 5.1 per cent for FDs maturing in 7 days to 20 years. For senior citizens, IDBI Bank provides a special interest rate on fixed deposits. The current IDBI Bank senior citizen FD rates range from 3.4 per cent to 5.6 per cent. IDBI Bank provides 2.9 per cent interest on deposits maturing in 7 to 14 days and 15 to 30 days. 3 per cent interest for 31 to 45 days, 3.25 per cent interest for 46 to 90 days, and 3.6 per cent interest for 91 to 6 months. IDBI Bank will provide 5.1 per cent on deposits maturing in one year to ten years. The bank will also offer 4.8 per cent on 10- to 20-year FDs. Term deposits for a 5-year maturity period will provide 5.1 per cent interest. Check the latest modified FD rates (less than Rs 2 Cr) of IDBI Bank with effect from 18 March 2021.
|Tenure||ROI in % for non-senior citizens||ROI in % for senior citizens|
|46- 60 days||3.25||3.75|
|6 months 1 day to 270 days||4.3||4.8|
|271 days up to< 1 year||4.3||4.8|
|> 1 year - 2 years||5.1||5.6|
|>2 years to < 3 years||5.1||5.6|
|3 years to < 5years||5.1||5.6|
|> 5 years - 7 years||5.1||5.6|
|>7 years - 10 years||5.1||5.6|
|>10 years - 20 years||4.8||5.3|
|Source: Official website of the bank|
With effect from March 18, private sector lender Axis Bank also amended interest rates on fixed deposits (FDs). Axis Bank provides FDs with terms extending from seven days to ten years. For the same period, Axis Bank is now offering non-senior citizens an interest rate between 2.5 per cent to 5.75 per cent and senior citizens an interest rate between 2.5 per cent to 6.5 per cent. Click here to know more.