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IDBI Bank has revised its fixed deposit interest rates along with introduction of a new tenure with higher interest rate and extended the deadline to invest in previous special deposits where the deadline to invest was earlier December 31, 2024.

Utsav Callable FD new tenure

According to the IDBI Bank website, “Introduction of new Utsav FD tenure for 555-Day effective from December 23, 2024, valid until February 15, 2025. The existing special tenures under Utsav FD extended up to March 31, 2025”

Utsav Callable FD interest rate

The interest rate on Utsav Callable FDs for general citizens that mature in 300 days is 7.05%; it is 7.25% for FDs maturing in 375 days; it is 7.35% for FDs maturing in 444 days; and it is 7.20% for FDs that mature in 700 days. For the new tenure, it is 7.40% on FDs maturing in 555 days.

Senior citizen Utsav Callable FD interest rate

The interest rate on Utsav Callable FDs for senior people that mature in 300 days is 7.55%; 7.75% for those that mature in 375 days; 7.85% for those that mature in 444 days; and 7.70% for those that mature in 700 days. For the new tenure, it is 7.90% for FDs maturing in 555 days.

IDBI Bank latest FD rates

IDBI Bank offers interest rates between 3% to 7% (excluding special deposits) for general citizens for deposits less than Rs 3 crore. For senior citizens, the bank offers between 3.50% to 7.50% for tenures between 7 days and 10 years. The revised rates are effective from December 23, 2024.

IDBI Bank premature withdrawal rule
According to the IDBI Bank website, “Bank will levy a penalty of 1%, on the applicable rate for deposits closed prematurely. Such closures include the withdrawals through sweep-ins and partial withdrawals as well.”

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