IDBI Bank hikes FD rates by 25 bps, promising up to 7.15% effective from today
The private sector lender IDBI Bank has hiked its interest rates on domestic fixed deposits (FDs) of less than ₹2 Cr. After the adjustment, the bank raised the interest rates on a variety of tenors ranging from 3 years to 5 years by up to 25 bps. The bank is currently providing interest rates on deposits maturing in 7 days to 10 years that range from 3.00% to 6.25% for the general public and from 3.50% to 6.75% for senior citizens. IDBI Bank promises a maximum interest rate of 7.15% for the general public and 7.65% for senior citizens on a deposit tenor of 444 days. According to the bank’s official website, the new FD rates take effect on April 12, 2023.
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