IDBI Bank Offers 7.60% Interest On Retail Amrit Mahotsav Deposit

New Delhi: IDBI Bank has increased the rate of interest on deposits and now offers interest on 700 days tenure.

According to the bank’s press release, “IDBI Bank has enhanced the rate of interest on deposits and now offers interest up to 7.60% for just 700 days, as a limited period offer, effective from December 26, 2022.”

Earlier, the bank had hiked the interest rate on retail term deposits of less than ₹2 crores effective 19 December.

Following the revision, the bank is currently offering interest rates on deposits maturing in 7 days to 10 years that range from 3.00% to 6.25% for the general public and 3.50% to 7.00% for senior citizens.

For senior citizens, IDBI Bank provides the Naman Senior Citizen Deposit special retail term deposit scheme. This program’s previous expiration date was set for December 31, 2022, however, IDBI Bank has now extended it to March 31, 2023.