IDBI Bank offers a unique “Utsav FD” scheme, which will end on December 31, 2024. This scheme allows customers to invest up to Rs 3 crore and offers four tenure options: 300, 375, 444, and 700 days. The interest rates vary for regular and senior citizens, with senior citizens earning slightly higher rates. Under the Utsav FD Scheme, regular customers can earn 7.05%-7.20% interest, while senior citizens can earn 7.55%-7.70% interest.
In comparison, IDBI Bank’s regular fixed deposit (FD) rates range from 3% to 6.80% depending on the tenure. For example, a 7-30 day FD earns 3% interest, while a 1-year FD earns 6.25%. The bank also offers tax-saving FDs, including a 5-year tax-saving FD that earns 6.50% interest.
The IDBI Bank Utsav FD scheme is a unique opportunity for customers to earn attractive interest rates on their deposits. With its flexible tenure options and competitive interest rates, this scheme is suitable for individuals looking to grow their savings over a fixed period.