IDBI Hikes Fixed Deposit Interest Rates On THESE Tenures; Check Comparison With SBI Special FD Schemes

Those who want to invest their hard-earned money in a safe avenue with zero risk often find fixed deposits as their go-to choice. Banks have been offering interest rates of up to 8 per cent on certain tenures. Amid increasing competition, IDBI Bank has increased its FD rates.  

IDBI Bank now offers a peak rate of 7.85 per cent and 7.75 per cent per annum on tenures of 444 days and 375 days, respectively. This offer is valid until September 30, 2024.

Customers can open an Utsav Fixed Deposit conveniently through the bank's website, mobile banking application, or at any branch of the bank. 

IDBI Bank continues to offer competitive rates on other special tenures under the Utsav Fixed Deposit scheme. The 700-day tenure offers a peak rate of 7.70 per cent, while the 300-day tenure provides 7.55 per cent. 

At SBI, the "400 days" Amrit Kalash scheme offers an interest rate of 7.10%, effective from April 12, 2023. Senior citizens can benefit from a higher rate of 7.60%. This scheme is available until September 30, 2024. 

For deposits with a tenure of 1 year to less than 2 years, the interest rate offered to the general public is 6.80%. Meanwhile, senior citizens enjoy a higher interest rate of 7.30% for the same tenure. (Image Credit: Pixabay)