Leading bank hikes interest rate on fixed deposits

Mumbai: Leading lender in the country, IDBI Bank has increased its interest rate on fixed deposits below Rs 2 crore. The bank now offers 7.60% interest rate on Retail Amrit Mahotsav Deposit.

IDBI Bank is currently offering interest rates to regular citizen ranging from 3% to 6.75% on tenure ranging between 7 days and 10 years. For senior citizens, the bank offers interest rate between 3.5% to 7.50%  for tenure ranging from 7 days to 10 years.

New interest rates:

7 days to 6 days: For General Public – NA; For Senior Citizens – NA

7 days to 14 days: For General Public – 3.00 per cent; For Senior Citizens – 3.50 per cent

15 days to 30 days: For General Public – 3.00 per cent; For Senior Citizens – 3.50 per cent

31 days to 45 days: For General Public – 3.25 per cent; For Senior Citizens – 3.85 per cent

46 days to 60 days: For General Public – 4.25 per cent; For Senior Citizens – 4.75 per cent

61 days to 90 days: For General Public – 4.25 per cent; For Senior Citizens – 4.75 per cent

91 days to 6 months: For General Public – 4.50 per cent; For Senior Citizens – 5.00 per cent

6 months 1 day to 270 days: For General Public – 5.25 per cent; For Senior Citizens – 5.75 per cent

271 days up to less than 1 year: For General Public – 5.5 per cent; For Senior Citizens – 6.00 per cent

1 Year: For General Public – 6.75 per cent; For Senior Citizens – 7.25 per cent

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More than 1 Year to 2 years: For General Public – 6.75 per cent; For Senior Citizens – 7.50 per cent

2 years 1 day to less than 3 years: For General Public – 6.50 per cent; For Senior Citizens – 7.25 per cent

3 years to less than 5 years: For General Public – 6.25 per cent; For Senior Citizens – 7.00 per cent

5 years: For General Public – 6.25 per cent; For Senior Citizens – 7.00 per cent

More Than 5 years to 7 years: 6.25 per cent; For Senior Citizens – 7.00 per cent

More Than 7 years to 10 years: 6.25 per cent; For Senior Citizens – 7.00 per cent

More Than 10 years to 20 years: 4.80 per cent; For Senior Citizens – 5.30 per cent.