IDBI Bank has launched a fine-tuning announcement regarding fixed deposit (FD) interests, coupled with a new extension on the investment deadline under its specialty ‘Utsav Deposit’ scheme.
The initial investment deadline for this scheme was April 30, 2025, and then this new date was extended, enabling investors more time to think it over. However, there is a slight reduction, which yields marginally lower returns than before for the customers.
Most Important Changes in the ‘Utsav Deposit’ Scheme
Under this exclusive FD scheme, IDBI Bank has abolished two tenures–of 300 days and 375 days. Further, it has cut interest rates on some of its prime FD tenures:
444 Days FD
- General Customers: Reduced from 7.35% to 7.25%
- Senior Citizens: Reduced from 7.85% to 7.75%
- Super Senior Citizens (IDBI Chiranjeev FD): Reduced from 8% to 7.90%
555 Days FD
- General Customers: Reduced from 7.40% to 7.30%
- Senior Citizens: Reduced from 7.90% to 7.80%
- Super Senior Citizens: Reduced from 8.05% to 7.95%
700 Days FD
- General Customers: Reduced from 7.20% to 7%
- Senior Citizens: Reduced from 7.70% to 7.50%
- Super Senior Citizens: Reduced from 7.85% to 7.65%
Revised Interest Rates on Regular FDs (Below ₹3 Crore)
For standard fixed deposits, IDBI Bank now offers 3% to 7% interest for general customers, while senior citizens receive 3.50% to 7.50% on the same tenures. These new rates took effect from April 16, 2025, with senior citizens continuing to enjoy an additional 0.50% interest over regular customers.
IDBI Bank Regular FD Interest Rates (Effective April 2025)
- 7-30 days: 3.00%
- 31-45 days: 3.25%
- 46-90 days: 4.50%
- 91 days to 6 months: 4.50%
- 6 months 1 day to <1 year: 5.75%
- 1 year to 2 years (excluding 375 & 444 days): 6.80%
- 2 years to 5 years: 6.50%
- 5 years to 10 years: 6.25%
- 10 years to 20 years: 4.80%
- 5 Years (Tax-Saving FD): 6.50%